Moors & Cabot Inc. Sells 601 Shares of U.S. Bancorp (NYSE:USB)

Moors & Cabot Inc. cut its position in U.S. Bancorp (NYSE:USB) by 2.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,703 shares of the financial services provider’s stock after selling 601 shares during the quarter. Moors & Cabot Inc.’s holdings in U.S. Bancorp were worth $901,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Excalibur Management Corp raised its position in U.S. Bancorp by 4.2% in the second quarter. Excalibur Management Corp now owns 10,325 shares of the financial services provider’s stock valued at $410,000 after purchasing an additional 415 shares during the last quarter. Renaissance Technologies LLC bought a new position in U.S. Bancorp in the second quarter valued at about $9,198,000. Citizens Financial Group Inc. RI raised its position in U.S. Bancorp by 251.2% in the second quarter. Citizens Financial Group Inc. RI now owns 20,485 shares of the financial services provider’s stock valued at $813,000 after purchasing an additional 14,652 shares during the last quarter. Bcwm LLC raised its position in U.S. Bancorp by 6.5% in the second quarter. Bcwm LLC now owns 118,118 shares of the financial services provider’s stock valued at $4,689,000 after purchasing an additional 7,249 shares during the last quarter. Finally, Brown Brothers Harriman & Co. raised its position in U.S. Bancorp by 4.9% in the second quarter. Brown Brothers Harriman & Co. now owns 119,282 shares of the financial services provider’s stock valued at $4,735,000 after purchasing an additional 5,603 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors.

U.S. Bancorp Stock Performance

Shares of USB opened at $45.19 on Thursday. The stock has a 50 day moving average of $44.22 and a 200 day moving average of $42.27. The company 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 has a 12 month low of $30.47 and a 12 month high of $47.31. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.05.

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

U.S. Bancorp Increases Dividend

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

Insider Buying and Selling

In related news, Director Aleem Gillani bought 10,000 shares of the business’s stock in a transaction on Thursday, July 18th. The stock was acquired at an average price of $44.99 per share, for a total transaction of $449,900.00. Following the purchase, the director now directly owns 10,000 shares in the company, valued at $449,900. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.23% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. StockNews.com raised U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. Citigroup raised their target price on U.S. Bancorp from $45.00 to $49.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. JPMorgan Chase & Co. cut U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price objective for the company. in a research note on Thursday, June 27th. Morgan Stanley raised their price objective on U.S. Bancorp from $47.00 to $54.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. Finally, Wells Fargo & Company raised their price objective on U.S. Bancorp from $48.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday, July 18th. Thirteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $48.18.

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.