U.S. Bancorp $USB Position Reduced by CORDA Investment Management LLC.

CORDA Investment Management LLC. decreased its position in shares of U.S. Bancorp (NYSE:USB) by 0.9% during the second quarter, Holdings Channel.com reports. The firm owned 912,358 shares of the financial services provider’s stock after selling 8,346 shares during the period. U.S. Bancorp comprises 3.4% of CORDA Investment Management LLC.’s investment portfolio, making the stock its 8th biggest holding. CORDA Investment Management LLC.’s holdings in U.S. Bancorp were worth $55,106,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Financial Life Planners purchased a new stake in U.S. Bancorp during the first quarter worth $27,000. Main Street Group LTD purchased a new position in U.S. Bancorp in the first quarter valued at $28,000. JPL Wealth Management LLC acquired a new position in shares of U.S. Bancorp in the third quarter worth about $28,000. Archer Investment Corp acquired a new position in shares of U.S. Bancorp in the second quarter worth about $29,000. Finally, Parvin Asset Management LLC purchased a new stake in shares of U.S. Bancorp during the 2nd quarter worth about $30,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at U.S. Bancorp

In other news, CEO Gunjan Kedia sold 27,267 shares of the company’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $62.37, for a total transaction of $1,700,642.79. Following the completion of the sale, the chief executive officer owned 426,262 shares of the company’s stock, valued at $26,585,960.94. This represents a 6.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Stephen L. Philipson sold 36,906 shares of the stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $63.08, for a total transaction of $2,328,030.48. Following the completion of the sale, the insider owned 74,969 shares of the company’s stock, valued at $4,729,044.52. This trade represents a 32.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is currently owned by corporate insiders.

U.S. Bancorp Price Performance

USB stock traded down $0.85 during trading on Tuesday, hitting $62.52. The stock had a trading volume of 5,584,586 shares, compared to its average volume of 9,376,383. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.83 and a quick ratio of 0.82. U.S. Bancorp has a twelve month low of $45.02 and a twelve month high of $66.07. The stock has a market capitalization of $97.41 billion, a P/E ratio of 12.48, a PEG ratio of 1.13 and a beta of 0.95. The company’s 50-day moving average price is $63.11 and its two-hundred day moving average price is $57.91.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Thursday, July 16th. The financial services provider reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.07. The business had revenue of $7.69 billion during the quarter, compared to analysts’ expectations of $7.58 billion. U.S. Bancorp had a return on equity of 13.69% and a net margin of 18.49%.During the same quarter in the prior year, the firm earned $1.11 earnings per share. As a group, research analysts predict that U.S. Bancorp will post 5.22 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Tuesday, June 30th. U.S. Bancorp’s dividend payout ratio is currently 41.52%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on USB. CLSA set a $67.50 price target on U.S. Bancorp in a research note on Monday, July 20th. Robert W. Baird raised their price objective on U.S. Bancorp from $64.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, July 17th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $68.00 target price on shares of U.S. Bancorp in a research note on Monday, August 24th. Stephens increased their target price on U.S. Bancorp from $63.00 to $67.00 and gave the company an “equal weight” rating in a research report on Friday, July 17th. Finally, UBS Group lifted their price target on shares of U.S. Bancorp from $58.00 to $66.00 and gave the company a “neutral” rating in a research note on Tuesday, July 7th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, U.S. Bancorp has a consensus rating of “Moderate Buy” and an average target price of $67.06.

U.S. Bancorp Company Profile

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.