Plimoth Trust Co. LLC Lowers Position in U.S. Bancorp (NYSE:USB)

Plimoth Trust Co. LLC cut its stake in shares of U.S. Bancorp (NYSE:USB) by 7.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,526 shares of the financial services provider’s stock after selling 375 shares during the period. Plimoth Trust Co. LLC’s holdings in U.S. Bancorp were worth $202,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. CGC Financial Services LLC purchased a new position in U.S. Bancorp during the fourth quarter valued at $25,000. BKM Wealth Management LLC purchased a new position in U.S. Bancorp during the fourth quarter valued at $26,000. Planned Solutions Inc. purchased a new position in U.S. Bancorp during the fourth quarter valued at $27,000. Financial Synergies Wealth Advisors Inc. purchased a new position in U.S. Bancorp during the first quarter valued at $30,000. Finally, Naples Money Management LLC purchased a new position in U.S. Bancorp during the fourth quarter valued at $30,000. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on USB shares. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $45.00 price target (down from $52.00) on shares of U.S. Bancorp in a report on Thursday, April 18th. Evercore ISI raised their price target on U.S. Bancorp from $45.00 to $48.00 and gave the company an “in-line” rating in a report on Tuesday, June 25th. Morgan Stanley reissued an “equal weight” rating and set a $45.00 price target on shares of U.S. Bancorp in a report on Friday, June 21st. Jefferies Financial Group decreased their price target on U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating on the stock in a report on Wednesday. Finally, DA Davidson decreased their price target on U.S. Bancorp from $45.00 to $44.00 and set a “neutral” rating on the stock in a report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $45.84.

U.S. Bancorp Stock Down 1.1 %

Shares of NYSE USB opened at $39.53 on Thursday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.81 and a current ratio of 0.82. The firm has a market capitalization of $61.68 billion, a price-to-earnings ratio of 13.09, a PEG ratio of 3.82 and a beta of 1.04. The stock has a 50 day moving average price of $40.30 and a 200 day moving average price of $41.62. U.S. Bancorp has a 52-week low of $30.47 and a 52-week high of $45.85.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. The company had revenue of $6.72 billion during the quarter, compared to the consensus estimate of $6.71 billion. U.S. Bancorp had a net margin of 12.13% and a return on equity of 13.93%. U.S. Bancorp’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.16 earnings per share. Sell-side analysts expect that U.S. Bancorp will post 3.84 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 4.96%. The ex-dividend date of this dividend is Friday, June 28th. U.S. Bancorp’s dividend payout ratio (DPR) 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.