U.S. Bancorp (NYSE:USB) Shares Sold by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd lowered its holdings in shares of U.S. Bancorp (NYSE:USB) by 7.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,261 shares of the financial services provider’s stock after selling 451 shares during the period. Harvest Fund Management Co. Ltd’s holdings in U.S. Bancorp were worth $228,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of USB. Mufg Bank LTD. grew its holdings in shares of U.S. Bancorp by 54.1% during the third quarter. Mufg Bank LTD. now owns 68,374,155 shares of the financial services provider’s stock worth $2,260,450,000 after buying an additional 24,000,000 shares during the last quarter. Aristotle Capital Management LLC grew its stake in shares of U.S. Bancorp by 266.6% in the 3rd quarter. Aristotle Capital Management LLC now owns 23,467,699 shares of the financial services provider’s stock valued at $775,842,000 after purchasing an additional 17,066,479 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of U.S. Bancorp by 5.0% in the third quarter. Vanguard Group Inc. now owns 136,513,206 shares of the financial services provider’s stock valued at $4,513,127,000 after purchasing an additional 6,479,642 shares during the period. Barclays PLC raised its stake in shares of U.S. Bancorp by 120.4% during the third quarter. Barclays PLC now owns 8,810,834 shares of the financial services provider’s stock worth $291,285,000 after purchasing an additional 4,813,976 shares during the last quarter. Finally, Ceredex Value Advisors LLC purchased a new position in U.S. Bancorp in the 3rd quarter valued at $79,642,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on USB shares. Jefferies Financial Group raised their target price on shares of U.S. Bancorp from $44.00 to $46.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. UBS Group lowered their price objective on U.S. Bancorp from $47.00 to $43.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. Oppenheimer decreased their price target on U.S. Bancorp from $55.00 to $54.00 and set an “outperform” rating on the stock in a research note on Thursday, April 18th. DA Davidson cut their price objective on U.S. Bancorp from $45.00 to $44.00 and set a “neutral” rating for the company in a research report on Thursday, April 18th. Finally, Evercore ISI boosted their target price on shares of U.S. Bancorp from $46.00 to $48.00 and gave the stock an “in-line” rating in a research report on Thursday, March 28th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $46.14.

U.S. Bancorp Stock Performance

NYSE USB opened at $41.56 on Thursday. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 1.07. The stock has a market cap of $64.76 billion, a price-to-earnings ratio of 13.58, a price-to-earnings-growth ratio of 2.12 and a beta of 1.05. U.S. Bancorp has a fifty-two week low of $27.27 and a fifty-two week high of $45.85. The business has a fifty day moving average of $42.36 and a 200-day moving average of $40.04.

U.S. Bancorp (NYSE:USB) last released its earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. U.S. Bancorp had a net margin of 12.13% and a return on equity of 13.93%. The company had revenue of $6.72 billion for the quarter, compared to analyst estimates of $6.71 billion. During the same period in the prior year, the firm earned $1.16 EPS. The firm’s quarterly revenue was down 6.4% on a year-over-year basis. As a group, analysts predict that U.S. Bancorp will post 3.86 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were paid a $0.49 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.96 annualized dividend and a yield of 4.72%. U.S. Bancorp’s payout ratio is currently 64.90%.

Insider Buying and Selling at U.S. Bancorp

In other news, insider Terrance R. Dolan sold 26,583 shares of U.S. Bancorp stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $43.37, for a total value of $1,152,904.71. Following the completion of the sale, the insider now owns 144,236 shares of the company’s stock, valued at $6,255,515.32. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP James L. Chosy sold 21,582 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $41.47, for a total value of $895,005.54. Following the completion of the sale, the executive vice president now directly owns 164,880 shares in the company, valued at approximately $6,837,573.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Terrance R. Dolan sold 26,583 shares of U.S. Bancorp stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $43.37, for a total transaction of $1,152,904.71. Following the sale, the insider now owns 144,236 shares in the company, valued at approximately $6,255,515.32. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by 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.