Studio Investment Management LLC Sells 6,176 Shares of U.S. Bancorp $USB

Studio Investment Management LLC decreased its holdings in U.S. Bancorp (NYSE:USB) by 17.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,873 shares of the financial services provider’s stock after selling 6,176 shares during the period. Studio Investment Management LLC’s holdings in U.S. Bancorp were worth $1,367,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in USB. Curbstone Financial Management Corp grew its holdings in U.S. Bancorp by 0.6% in the second quarter. Curbstone Financial Management Corp now owns 39,982 shares of the financial services provider’s stock worth $1,809,000 after purchasing an additional 222 shares during the last quarter. Mechanics Financial Corp grew its holdings in U.S. Bancorp by 5.3% in the second quarter. Mechanics Financial Corp now owns 4,806 shares of the financial services provider’s stock worth $217,000 after purchasing an additional 240 shares during the last quarter. Northern Financial Advisors Inc grew its holdings in U.S. Bancorp by 5.0% in the second 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. Lawson Kroeker Investment Management Inc. NE grew its holdings in U.S. Bancorp by 0.5% in the second 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. Finally, Bestgate Wealth Advisors LLC grew its holdings in U.S. Bancorp by 3.3% in the first quarter. Bestgate Wealth Advisors LLC now owns 8,031 shares of the financial services provider’s stock worth $339,000 after purchasing an additional 253 shares during the last quarter. Institutional investors own 77.60% of the company’s stock.

Insiders Place Their Bets

In other U.S. Bancorp news, Chairman Andrew Cecere sold 140,445 shares of U.S. Bancorp stock in a transaction on 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 completion of the transaction, the chairman owned 1,360,414 shares of the company’s stock, valued at approximately $63,041,584.76. The trade was a 9.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP James L. Chosy sold 26,909 shares of U.S. Bancorp stock in a transaction on Monday, October 20th. The shares were sold at an average price of $46.86, for a total transaction of $1,260,955.74. Following the completion of the transaction, the executive vice president directly owned 226,375 shares of the company’s stock, valued at $10,607,932.50. The trade was a 10.62% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.23% of the company’s stock.

U.S. Bancorp Trading Up 1.1%

NYSE USB opened at $47.64 on Wednesday. The company has a market capitalization of $74.14 billion, a PE ratio of 10.90, a P/E/G ratio of 1.27 and a beta of 1.06. The company has a fifty day moving average of $48.02 and a 200 day moving average of $44.95. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $53.98. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.82 and a quick ratio of 0.82.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Thursday, October 16th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.11. The company had revenue of $7.34 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.03 earnings per share. Research analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Raymond James Financial raised shares of U.S. Bancorp from an “outperform” rating to a “strong-buy” rating and lifted their price target for the stock from $51.00 to $57.00 in a report on Monday, July 7th. TD Cowen lifted their price objective on shares of U.S. Bancorp from $59.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday. Oppenheimer lowered their price objective on shares of U.S. Bancorp from $67.00 to $66.00 and set an “outperform” rating for the company in a research note on Tuesday, September 23rd. Wall Street Zen upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. Finally, Morgan Stanley reiterated a “positive” rating on shares of U.S. Bancorp in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, U.S. Bancorp has an average rating of “Moderate Buy” and a consensus price target of $54.48.

U.S. Bancorp Company 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.