Skandinaviska Enskilda Banken AB publ cut its holdings in shares of U.S. Bancorp (NYSE:USB) by 4.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 256,898 shares of the financial services provider’s stock after selling 12,300 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in U.S. Bancorp were worth $13,567,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Horan Capital Management bought a new stake in shares of U.S. Bancorp during the second quarter worth about $109,000. Integrated Investment Consultants LLC purchased a new position in U.S. Bancorp during the second quarter worth about $135,000. Field & Main Bank boosted its holdings in U.S. Bancorp by 49.9% during the second quarter. Field & Main Bank now owns 3,004 shares of the financial services provider’s stock worth $159,000 after purchasing an additional 1,000 shares during the last quarter. NEXT Financial Group Inc purchased a new position in U.S. Bancorp during the third quarter worth about $181,000. Finally, Polaris Greystone Financial Group LLC purchased a new position in U.S. Bancorp during the third quarter worth about $185,000. 74.42% of the stock is owned by institutional investors.
USB opened at $53.15 on Friday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.84 and a current ratio of 0.85. The stock has a market capitalization of $84.97 billion, a price-to-earnings ratio of 13.45, a P/E/G ratio of 1.71 and a beta of 0.91. U.S. Bancorp has a twelve month low of $48.49 and a twelve month high of $58.50.
The business also recently announced a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Friday, September 28th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 2.78%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.30. The ex-dividend date was Thursday, September 27th. U.S. Bancorp’s payout ratio is presently 43.27%.
Several research firms recently weighed in on USB. CIBC upgraded shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating in a report on Thursday, October 18th. ValuEngine cut shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, October 16th. Zacks Investment Research upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a report on Friday, October 12th. Macquarie upgraded shares of U.S. Bancorp from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $56.00 to $62.00 in a report on Wednesday, October 10th. Finally, UBS Group set a $56.00 price target on shares of U.S. Bancorp and gave the stock a “hold” rating in a report on Monday, October 22nd. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company’s stock. U.S. Bancorp has a consensus rating of “Hold” and a consensus target price of $59.36.
In other U.S. Bancorp news, Chairman Andrew Cecere sold 183,374 shares of the business’s stock in a transaction dated Thursday, November 8th. The shares were sold at an average price of $52.95, for a total value of $9,709,653.30. Following the transaction, the chairman now directly owns 892,517 shares in the company, valued at $47,258,775.15. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Gillern Jeffry H. Von sold 17,508 shares of the business’s stock in a transaction dated Wednesday, October 24th. The shares were sold at an average price of $50.81, for a total transaction of $889,581.48. Following the completion of the transaction, the insider now owns 121,137 shares in the company, valued at $6,154,970.97. The disclosure for this sale can be found here. Over the last quarter, insiders sold 216,406 shares of company stock worth $11,420,610. Corporate insiders own 0.43% of the company’s stock.
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U.S. Bancorp Profile
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. The company operates through five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.
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