U.S. Bancorp (NYSE:USB) Shares Sold by Watch Point Trust Co

Watch Point Trust Co trimmed its holdings in U.S. Bancorp (NYSE:USB) by 1.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 74,538 shares of the financial services provider’s stock after selling 1,255 shares during the quarter. U.S. Bancorp makes up about 2.2% of Watch Point Trust Co’s holdings, making the stock its 16th biggest position. Watch Point Trust Co’s holdings in U.S. Bancorp were worth $4,125,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in USB. Daily Journal Corp increased its holdings in shares of U.S. Bancorp by 9,900.0% in the 2nd quarter. Daily Journal Corp now owns 14,000,000 shares of the financial services provider’s stock valued at $7,336,000 after acquiring an additional 13,860,000 shares during the period. Nuveen Asset Management LLC increased its holdings in shares of U.S. Bancorp by 17,492.7% in the 2nd quarter. Nuveen Asset Management LLC now owns 12,734,464 shares of the financial services provider’s stock valued at $667,286,000 after acquiring an additional 12,662,079 shares during the period. APG Asset Management N.V. increased its holdings in shares of U.S. Bancorp by 115.2% in the 2nd quarter. APG Asset Management N.V. now owns 3,824,226 shares of the financial services provider’s stock valued at $175,965,000 after acquiring an additional 2,046,900 shares during the period. Acadian Asset Management LLC increased its holdings in shares of U.S. Bancorp by 140.8% in the 2nd quarter. Acadian Asset Management LLC now owns 2,005,750 shares of the financial services provider’s stock valued at $105,104,000 after acquiring an additional 1,172,955 shares during the period. Finally, CIBC Private Wealth Group LLC increased its holdings in shares of U.S. Bancorp by 40.2% in the 2nd quarter. CIBC Private Wealth Group LLC now owns 3,974,817 shares of the financial services provider’s stock valued at $208,279,000 after acquiring an additional 1,140,289 shares during the period. 75.50% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have recently commented on USB. JPMorgan Chase & Co. lifted their target price on shares of U.S. Bancorp from $55.50 to $58.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Credit Suisse Group reaffirmed a “hold” rating and issued a $55.00 target price on shares of U.S. Bancorp in a report on Thursday, September 12th. Wedbush lifted their target price on shares of U.S. Bancorp from $46.00 to $49.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. Piper Jaffray Companies set a $59.00 price objective on shares of U.S. Bancorp and gave the company a “buy” rating in a research report on Friday, September 13th. Finally, Macquarie lowered shares of U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $59.00 price objective on the stock. in a research report on Thursday, August 1st. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $56.67.

NYSE:USB traded down $0.20 during midday trading on Friday, reaching $58.90. The stock had a trading volume of 3,152,308 shares, compared to its average volume of 5,770,772. The firm has a fifty day simple moving average of $55.56 and a two-hundred day simple moving average of $53.63. U.S. Bancorp has a 12-month low of $43.14 and a 12-month high of $59.71. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.86. The stock has a market cap of $92.33 billion, a P/E ratio of 14.37, a P/E/G ratio of 2.25 and a beta of 1.11.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, October 16th. The financial services provider reported $1.15 EPS for the quarter, topping the consensus estimate of $1.11 by $0.04. The company had revenue of $5.92 billion for the quarter, compared to analyst estimates of $5.81 billion. U.S. Bancorp had a net margin of 26.54% and a return on equity of 15.39%. The business’s revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.06 EPS. On average, sell-side analysts anticipate that U.S. Bancorp will post 4.33 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $0.42 per share. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.37. This represents a $1.68 annualized dividend and a dividend yield of 2.85%. The ex-dividend date was Friday, September 27th. U.S. Bancorp’s payout ratio is presently 40.98%.

In other news, insider Gillern Jeffry H. Von sold 5,357 shares of U.S. Bancorp stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $56.67, for a total transaction of $303,581.19. Following the completion of the transaction, the insider now owns 89,301 shares of the company’s stock, valued at approximately $5,060,687.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director David B. Omaley sold 10,133 shares of U.S. Bancorp stock in a transaction on Friday, September 13th. The stock was sold at an average price of $55.76, for a total value of $565,016.08. Following the transaction, the director now directly owns 191,754 shares of the company’s stock, valued at approximately $10,692,203.04. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by insiders.

U.S. Bancorp Profile

U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.

Further Reading: How Important is Technical Analysis of Stocks

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Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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