Cetera Investment Advisers Sells 13,656 Shares of U.S. Bancorp $USB

Cetera Investment Advisers trimmed its position in shares of U.S. Bancorp (NYSE:USB) by 1.6% during the 1st quarter, Holdings Channel reports. The fund owned 825,796 shares of the financial services provider’s stock after selling 13,656 shares during the period. Cetera Investment Advisers’ holdings in U.S. Bancorp were worth $42,950,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Clayton Financial Group LLC purchased a new position in shares of U.S. Bancorp in the fourth quarter valued at $25,000. Financial Life Planners purchased a new stake in U.S. Bancorp during the first quarter valued at $27,000. Main Street Group LTD purchased a new stake in U.S. Bancorp during the first quarter valued at $28,000. JPL Wealth Management LLC bought a new position in U.S. Bancorp during the third quarter valued at $28,000. Finally, Binnacle Investments Inc lifted its position in U.S. Bancorp by 77.8% during the third quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 273 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors.

U.S. Bancorp Price Performance

Shares of USB stock opened at $63.91 on Friday. The stock has a 50 day moving average price of $58.89 and a 200 day moving average price of $56.42. U.S. Bancorp has a 52-week low of $43.46 and a 52-week high of $64.84. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.82 and a current ratio of 0.83. The firm has a market capitalization of $99.14 billion, a P/E ratio of 12.76, a P/E/G ratio of 1.05 and a beta of 0.96.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Thursday, July 16th. The financial services provider reported $1.35 EPS for the quarter, beating the consensus estimate of $1.28 by $0.07. U.S. Bancorp had a return on equity of 13.69% and a net margin of 18.49%.The company had revenue of $7.71 billion for the quarter, compared to the consensus estimate of $7.58 billion. During the same quarter in the prior year, the company posted $1.11 EPS. As a group, sell-side analysts predict that U.S. Bancorp will post 5.22 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on USB shares. Wells Fargo & Company lifted their price objective on shares of U.S. Bancorp from $66.00 to $69.00 and gave the stock an “overweight” rating in a research note on Friday, July 17th. Oppenheimer upped their target price on shares of U.S. Bancorp from $73.00 to $77.00 and gave the company an “outperform” rating in a research report on Friday, July 17th. Stephens increased their price target on shares of U.S. Bancorp from $63.00 to $67.00 and gave the company an “equal weight” rating in a report on Friday, July 17th. Morgan Stanley lifted their price target on U.S. Bancorp from $64.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Monday, June 29th. Finally, Robert W. Baird boosted their price objective on U.S. Bancorp from $64.00 to $68.00 and gave the stock a “neutral” rating in a research note on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $67.00.

Insider Activity at U.S. Bancorp

In other news, EVP Venkatachari Dilip sold 34,522 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total value of $1,916,661.44. Following the transaction, the executive vice president directly owned 51,292 shares in the company, valued at approximately $2,847,731.84. This represents a 40.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.21% of the company’s stock.

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.