Dorsey & Whitney Trust CO LLC Reduces Position in U.S. Bancorp $USB

Dorsey & Whitney Trust CO LLC lowered its holdings in U.S. Bancorp (NYSE:USB) by 14.3% in the second quarter, HoldingsChannel reports. The firm owned 429,374 shares of the financial services provider’s stock after selling 71,540 shares during the period. U.S. Bancorp comprises about 1.0% of Dorsey & Whitney Trust CO LLC’s portfolio, making the stock its 17th largest holding. Dorsey & Whitney Trust CO LLC’s holdings in U.S. Bancorp were worth $19,429,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of USB. Curbstone Financial Management Corp boosted its stake in shares of U.S. Bancorp by 0.6% during the 2nd quarter. Curbstone Financial Management Corp now owns 39,982 shares of the financial services provider’s stock valued at $1,809,000 after buying an additional 222 shares during the last quarter. Crestwood Advisors Group LLC raised its holdings in U.S. Bancorp by 3.5% in the second quarter. Crestwood Advisors Group LLC now owns 7,021 shares of the financial services provider’s stock valued at $318,000 after acquiring an additional 237 shares in the last quarter. Mechanics Financial Corp boosted its stake in U.S. Bancorp by 5.3% during the 2nd quarter. Mechanics Financial Corp now owns 4,806 shares of the financial services provider’s stock valued at $217,000 after acquiring an additional 240 shares during the last quarter. Northern Financial Advisors Inc increased its position in shares of U.S. Bancorp by 5.0% in the 2nd quarter. Northern Financial Advisors Inc now owns 5,033 shares of the financial services provider’s stock worth $228,000 after purchasing an additional 241 shares during the last quarter. Finally, Lawson Kroeker Investment Management Inc. NE increased its position in shares of U.S. Bancorp by 0.5% in the 2nd quarter. Lawson Kroeker Investment Management Inc. NE now owns 46,109 shares of the financial services provider’s stock worth $2,086,000 after purchasing an additional 249 shares during the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other U.S. Bancorp news, EVP James L. Chosy sold 26,909 shares of the company’s stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $46.86, for a total value of $1,260,955.74. Following the transaction, the executive vice president directly owned 226,375 shares of the company’s stock, valued at $10,607,932.50. This represents a 10.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Andrew Cecere sold 140,445 shares of U.S. Bancorp stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $46.34, for a total value of $6,508,221.30. Following the sale, the chairman owned 1,360,414 shares of the company’s stock, valued at approximately $63,041,584.76. This represents a 9.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of U.S. Bancorp in a research note on Wednesday, October 8th. UBS Group boosted their price target on U.S. Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a report on Tuesday, October 7th. DA Davidson raised their price objective on U.S. Bancorp from $57.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, October 17th. Deutsche Bank Aktiengesellschaft upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $52.50 target price for the company in a research note on Thursday, October 23rd. Finally, Bank of America lifted their price target on shares of U.S. Bancorp from $54.00 to $55.00 and gave the company a “buy” rating in a report on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, U.S. Bancorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.55.

U.S. Bancorp Price Performance

Shares of NYSE:USB opened at $47.09 on Monday. The company has a market cap of $73.19 billion, a P/E ratio of 10.78, a price-to-earnings-growth ratio of 1.25 and a beta of 1.10. The company’s fifty day moving average is $47.83 and its two-hundred day moving average is $46.14. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.10. U.S. Bancorp has a 12-month low of $35.18 and a 12-month high of $53.98.

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

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were issued a dividend of $0.52 per share. The ex-dividend date was Tuesday, September 30th. This represents a $2.08 annualized dividend and a dividend yield of 4.4%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.50. U.S. Bancorp’s dividend payout ratio is presently 47.60%.

U.S. Bancorp Profile

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.