International Assets Investment Management LLC Reduces Stock Holdings in U.S. Bancorp $USB

International Assets Investment Management LLC reduced its holdings in U.S. Bancorp (NYSE:USB) by 22.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,225 shares of the financial services provider’s stock after selling 7,321 shares during the period. International Assets Investment Management LLC’s holdings in U.S. Bancorp were worth $1,141,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Saudi Central Bank purchased a new stake in shares of U.S. Bancorp in the 1st quarter valued at $26,000. Westend Capital Management LLC purchased a new stake in shares of U.S. Bancorp in the 1st quarter valued at $27,000. YANKCOM Partnership boosted its holdings in U.S. Bancorp by 59.4% during the first quarter. YANKCOM Partnership now owns 698 shares of the financial services provider’s stock worth $29,000 after buying an additional 260 shares in the last quarter. Alpine Bank Wealth Management purchased a new stake in U.S. Bancorp during the first quarter worth $30,000. Finally, Cornerstone Planning Group LLC boosted its holdings in U.S. Bancorp by 118.0% during the first quarter. Cornerstone Planning Group LLC now owns 776 shares of the financial services provider’s stock worth $31,000 after buying an additional 420 shares in the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

USB has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “buy (b-)” rating on shares of U.S. Bancorp in a report on Wednesday, October 8th. Morgan Stanley reissued a “positive” rating on shares of U.S. Bancorp in a report on Friday. The Goldman Sachs Group set a $52.00 price target on shares of U.S. Bancorp and gave the stock a “neutral” rating in a report on Friday. Evercore ISI increased their price target on shares of U.S. Bancorp from $49.00 to $54.00 and gave the stock an “in-line” rating in a report on Tuesday, September 30th. Finally, Bank of America increased their price target on shares of U.S. Bancorp from $54.00 to $55.00 and gave the stock a “buy” rating in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $54.48.

U.S. Bancorp Stock Performance

NYSE:USB opened at $45.66 on Monday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.82 and a current ratio of 0.82. The company has a fifty day moving average of $47.93 and a two-hundred day moving average of $44.86. The stock has a market capitalization of $71.06 billion, a PE ratio of 10.45, a P/E/G ratio of 1.31 and a beta of 1.06. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two week high of $53.98.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.11. The company had revenue of $7.34 billion during the quarter, compared to analysts’ expectations of $7.17 billion. U.S. Bancorp had a net margin of 16.89% and a return on equity of 13.34%. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.03 earnings per share. As a group, research analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.6%. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.50. The ex-dividend date was Tuesday, September 30th. U.S. Bancorp’s dividend payout ratio (DPR) is currently 47.60%.

About U.S. Bancorp

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.