Traders Sell Shares of U.S. Bancorp (USB) on Strength After Analyst Downgrade

Investors sold shares of U.S. Bancorp (NYSE:USB) on strength during trading on Wednesday after J P Morgan Chase & Co lowered their price target on the stock from $55.50 to $50.00. $33.24 million flowed into the stock on the tick-up and $54.81 million flowed out of the stock on the tick-down, for a money net flow of $21.57 million out of the stock. Of all companies tracked, U.S. Bancorp had the 26th highest net out-flow for the day. U.S. Bancorp traded up $0.10 for the day and closed at $54.48

Other equities analysts have also recently issued reports about the stock. Wells Fargo & Company assumed coverage on shares of U.S. Bancorp in a research note on Wednesday, August 9th. They issued a “market perform” rating and a $56.00 price objective on the stock. BidaskClub cut shares of U.S. Bancorp from a “buy” rating to a “hold” rating in a research note on Sunday, July 16th. Zacks Investment Research raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Monday. Bank of America Corporation cut shares of U.S. Bancorp from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $56.00 to $54.00 in a research note on Monday, October 2nd. Finally, Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of U.S. Bancorp in a research note on Thursday, October 19th. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the company’s stock. U.S. Bancorp currently has an average rating of “Hold” and an average target price of $53.82.

A number of large investors have recently added to or reduced their stakes in the stock. Portland Global Advisors LLC grew its holdings in U.S. Bancorp by 1.6% during the third quarter. Portland Global Advisors LLC now owns 82,006 shares of the financial services provider’s stock worth $4,395,000 after acquiring an additional 1,315 shares during the period. Gabelli Funds LLC grew its holdings in U.S. Bancorp by 100.0% during the third quarter. Gabelli Funds LLC now owns 130,000 shares of the financial services provider’s stock worth $6,967,000 after acquiring an additional 65,000 shares during the period. Blue Granite Capital LLC acquired a new position in U.S. Bancorp during the third quarter worth about $451,000. Norris Perne & French LLP MI grew its holdings in U.S. Bancorp by 72.7% during the third quarter. Norris Perne & French LLP MI now owns 10,377 shares of the financial services provider’s stock worth $556,000 after acquiring an additional 4,369 shares during the period. Finally, Nwam LLC grew its holdings in U.S. Bancorp by 57.2% during the third quarter. Nwam LLC now owns 156,246 shares of the financial services provider’s stock worth $8,373,000 after acquiring an additional 56,875 shares during the period. 74.20% of the stock is currently owned by hedge funds and other institutional investors.

U.S. Bancorp (NYSE:USB) last released its earnings results on Wednesday, October 18th. The financial services provider reported $0.88 earnings per share for the quarter, meeting the consensus estimate of $0.88. U.S. Bancorp had a return on equity of 13.91% and a net margin of 25.46%. The firm had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.60 billion. During the same quarter in the prior year, the firm posted $0.84 earnings per share. The company’s quarterly revenue was up 4.1% on a year-over-year basis.

The firm also recently declared a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Friday, September 29th were issued a $0.30 dividend. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.28. This represents a $1.20 annualized dividend and a dividend yield of 2.21%. The ex-dividend date was Thursday, September 28th. U.S. Bancorp’s dividend payout ratio is 35.61%.

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About U.S. Bancorp

U.S. Bancorp is a multi-state financial services holding company. The Company provides a full range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services. It also engages in credit card services, merchant and automated teller machine (ATM) processing, mortgage banking, insurance, brokerage and leasing.

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