U.S. Bancorp (NYSE:USB) Shares Sold by Perpetual Ltd

Perpetual Ltd decreased its position in U.S. Bancorp (NYSE:USB) by 98.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,205 shares of the financial services provider’s stock after selling 590,860 shares during the quarter. Perpetual Ltd’s holdings in U.S. Bancorp were worth $350,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. CGC Financial Services LLC acquired a new position in shares of U.S. Bancorp during the 4th quarter valued at about $25,000. BKM Wealth Management LLC acquired a new position in shares of U.S. Bancorp during the 4th quarter valued at about $26,000. Planned Solutions Inc. acquired a new position in shares of U.S. Bancorp during the 4th quarter valued at about $27,000. Naples Money Management LLC acquired a new position in shares of U.S. Bancorp during the 4th quarter valued at about $30,000. Finally, Pineridge Advisors LLC acquired a new position in shares of U.S. Bancorp during the 4th quarter valued at about $41,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on USB. DA Davidson decreased their target price on U.S. Bancorp from $45.00 to $44.00 and set a “neutral” rating for the company in a report on Thursday, April 18th. Compass Point upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $46.00 to $49.00 in a report on Friday, March 22nd. Royal Bank of Canada reiterated an “outperform” rating and set a $47.00 target price on shares of U.S. Bancorp in a report on Thursday, May 16th. JPMorgan Chase & Co. decreased their target price on U.S. Bancorp from $45.00 to $43.50 and set an “overweight” rating for the company in a report on Wednesday, May 1st. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $45.00 target price on shares of U.S. Bancorp in a report on Friday. Fifteen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $46.02.

U.S. Bancorp Price Performance

Shares of NYSE USB opened at $39.71 on Friday. U.S. Bancorp has a 1-year low of $30.47 and a 1-year high of $45.85. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.82 and a quick ratio of 0.81. The business’s fifty day moving average price is $40.40 and its two-hundred day moving average price is $41.69. The firm has a market capitalization of $61.97 billion, a PE ratio of 13.15, a P/E/G ratio of 3.77 and a beta of 1.04.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.01. U.S. Bancorp had a return on equity of 13.93% and a net margin of 12.13%. The firm had revenue of $6.72 billion for the quarter, compared to analyst estimates of $6.71 billion. During the same period last year, the company earned $1.16 earnings per share. The firm’s revenue for the quarter was down 6.4% on a year-over-year basis. On average, research analysts expect that U.S. Bancorp will post 3.85 EPS for the current year.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a $0.49 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.96 annualized dividend and a dividend yield of 4.94%. U.S. Bancorp’s payout ratio is 64.90%.

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.