U.S. Bancorp $USB Shares Sold by Bridges Investment Management Inc.

Bridges Investment Management Inc. lessened its stake in shares of U.S. Bancorp (NYSE:USB) by 0.2% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,494,949 shares of the financial services provider’s stock after selling 2,473 shares during the period. Bridges Investment Management Inc.’s holdings in U.S. Bancorp were worth $67,646,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of USB. Saudi Central Bank purchased a new position in shares of U.S. Bancorp during the 1st quarter worth $26,000. Westend Capital Management LLC purchased a new position in shares of U.S. Bancorp during the 1st quarter worth $27,000. YANKCOM Partnership raised its holdings in shares of U.S. Bancorp by 59.4% during the 1st quarter. YANKCOM Partnership now owns 698 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 260 shares during the period. Alpine Bank Wealth Management purchased a new position in shares of U.S. Bancorp during the 1st quarter worth $30,000. Finally, Cornerstone Planning Group LLC raised its holdings in shares of U.S. Bancorp by 118.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 776 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 420 shares during the period. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Down 1.4%

Shares of USB opened at $46.43 on Thursday. The stock has a market capitalization of $72.26 billion, a PE ratio of 11.11, a P/E/G ratio of 1.38 and a beta of 1.06. 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 1.16, a quick ratio of 0.81 and a current ratio of 0.81. The company’s 50-day simple moving average is $47.88 and its 200-day simple moving average is $44.76.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Thursday, July 17th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.04. The business had revenue of $7.06 billion for the quarter, compared to analysts’ expectations of $7.07 billion. U.S. Bancorp had a net margin of 16.30% and a return on equity of 13.08%. The business’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.98 earnings per share. 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 declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders 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 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend was Tuesday, September 30th. U.S. Bancorp’s dividend payout ratio is currently 49.76%.

Insider Activity

In other news, EVP Souheil Badran sold 23,727 shares of the stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $46.34, for a total transaction of $1,099,509.18. Following the sale, the executive vice president owned 70,346 shares of the company’s stock, valued at approximately $3,259,833.64. This represents a 25.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.23% of the company’s stock.

Analyst Ratings Changes

USB has been the topic of several research analyst reports. UBS Group boosted their price objective on shares of U.S. Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a report on Tuesday, October 7th. Raymond James Financial raised shares of U.S. Bancorp from an “outperform” rating to a “strong-buy” rating and upped their target price for the company from $51.00 to $57.00 in a research report on Monday, July 7th. Citigroup upped their target price on shares of U.S. Bancorp from $59.00 to $65.00 and gave the company a “buy” rating in a research report on Friday, September 19th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of U.S. Bancorp in a research report on Wednesday, October 8th. Finally, Oppenheimer decreased their target price on shares of U.S. Bancorp from $67.00 to $66.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 23rd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, U.S. Bancorp has a consensus rating of “Moderate Buy” and a consensus target price of $53.11.

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.