Amalgamated Bank Sells 5,803 Shares of U.S. Bancorp (NYSE:USB)

Amalgamated Bank reduced its position in shares of U.S. Bancorp (NYSE:USB) by 1.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 315,063 shares of the financial services provider’s stock after selling 5,803 shares during the quarter. Amalgamated Bank’s holdings in U.S. Bancorp were worth $12,508,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of USB. Confluence Investment Management LLC bought a new position in U.S. Bancorp in the first quarter valued at approximately $92,192,000. National Bank of Canada FI lifted its stake in shares of U.S. Bancorp by 313.8% in the 2nd quarter. National Bank of Canada FI now owns 2,698,642 shares of the financial services provider’s stock valued at $105,903,000 after purchasing an additional 2,046,522 shares during the period. BNP Paribas Financial Markets boosted its position in shares of U.S. Bancorp by 88.9% in the 1st quarter. BNP Paribas Financial Markets now owns 2,331,050 shares of the financial services provider’s stock worth $104,198,000 after purchasing an additional 1,097,179 shares during the last quarter. Clearbridge Investments LLC grew its stake in shares of U.S. Bancorp by 16.2% during the first quarter. Clearbridge Investments LLC now owns 6,941,466 shares of the financial services provider’s stock worth $310,284,000 after purchasing an additional 967,143 shares during the period. Finally, American Century Companies Inc. increased its holdings in U.S. Bancorp by 15.6% in the second quarter. American Century Companies Inc. now owns 6,846,497 shares of the financial services provider’s stock valued at $271,806,000 after purchasing an additional 925,073 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Wall Street Analyst Weigh In

USB has been the topic of a number of recent analyst reports. DA Davidson raised their target price on U.S. Bancorp from $44.00 to $49.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Royal Bank of Canada restated an “outperform” rating and set a $48.00 price objective on shares of U.S. Bancorp in a report on Friday, September 13th. Evercore ISI increased their target price on shares of U.S. Bancorp from $45.00 to $48.00 and gave the stock an “in-line” rating in a report on Tuesday, June 25th. Wells Fargo & Company lifted their price target on shares of U.S. Bancorp from $48.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, July 18th. Finally, JPMorgan Chase & Co. cut shares of U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price objective for the company. in a research report on Thursday, June 27th. Thirteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $48.18.

U.S. Bancorp Trading Up 1.1 %

NYSE USB opened at $45.19 on Thursday. U.S. Bancorp has a 52 week low of $30.47 and a 52 week high of $47.31. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.80 and a current ratio of 0.81. The stock’s 50 day moving average price is $44.22 and its two-hundred day moving average price is $42.27. The stock has a market capitalization of $70.52 billion, a price-to-earnings ratio of 14.96, a PEG ratio of 4.36 and a beta of 1.04.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.04. The business had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.81 billion. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.12 earnings per share. As a group, analysts anticipate that U.S. Bancorp will post 3.87 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.43%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Monday, September 30th. U.S. Bancorp’s dividend payout ratio is currently 66.23%.

Insider Activity

In related news, Director Aleem Gillani purchased 10,000 shares of U.S. Bancorp stock in a transaction that occurred on Thursday, July 18th. The stock was purchased at an average cost of $44.99 per share, with a total value of $449,900.00. Following the completion of the transaction, the director now owns 10,000 shares of the company’s stock, valued at approximately $449,900. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.23% of the stock is owned by corporate insiders.

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.