Greylin Investment Management Inc Cuts Stake in U.S. Bancorp (NYSE:USB)

Greylin Investment Management Inc cut its holdings in U.S. Bancorp (NYSE:USB) by 4.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 159,766 shares of the financial services provider’s stock after selling 7,665 shares during the quarter. U.S. Bancorp makes up about 1.1% of Greylin Investment Management Inc’s investment portfolio, making the stock its 15th largest position. Greylin Investment Management Inc’s holdings in U.S. Bancorp were worth $7,142,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. CGC Financial Services LLC purchased a new stake in shares of U.S. Bancorp in the 4th quarter worth approximately $25,000. BKM Wealth Management LLC bought a new position in U.S. Bancorp in the fourth quarter worth approximately $26,000. Planned Solutions Inc. purchased a new stake in U.S. Bancorp during the fourth quarter worth $27,000. Naples Money Management LLC bought a new stake in U.S. Bancorp during the 4th quarter valued at $30,000. Finally, Financial Synergies Wealth Advisors Inc. purchased a new position in shares of U.S. Bancorp in the 1st quarter valued at $30,000. 77.60% of the stock is currently owned by institutional investors.

U.S. Bancorp Stock Performance

USB traded down $0.75 during midday trading on Thursday, hitting $40.02. 7,397,561 shares of the company were exchanged, compared to its average volume of 8,409,191. The company’s 50 day simple moving average is $42.02 and its 200 day simple moving average is $41.29. The firm has a market capitalization of $62.45 billion, a price-to-earnings ratio of 13.25, a price-to-earnings-growth ratio of 3.97 and a beta of 1.05. U.S. Bancorp has a 1-year low of $29.33 and a 1-year high of $45.85. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 1.07.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, April 17th. The financial services provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. U.S. Bancorp had a return on equity of 13.93% and a net margin of 12.13%. The firm had revenue of $6.72 billion for the quarter, compared to the consensus estimate of $6.71 billion. During the same quarter in the prior year, the business earned $1.16 earnings per share. The company’s revenue was down 6.4% compared to the same quarter last year. As a group, sell-side analysts predict that U.S. Bancorp will post 3.84 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were paid a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 4.90%. The ex-dividend date of this dividend was Wednesday, March 27th. U.S. Bancorp’s dividend payout ratio is currently 64.90%.

Analysts Set New Price Targets

USB has been the topic of a number of recent research reports. Compass Point raised U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their price objective for the company from $46.00 to $49.00 in a research report on Friday, March 22nd. Wells Fargo & Company lowered their price target on shares of U.S. Bancorp from $50.00 to $48.00 and set an “overweight” rating on the stock in a report on Thursday, April 18th. DA Davidson reduced their price objective on shares of U.S. Bancorp from $45.00 to $44.00 and set a “neutral” rating for the company in a research note on Thursday, April 18th. Jefferies Financial Group increased their target price on shares of U.S. Bancorp from $44.00 to $46.00 and gave the company a “hold” rating in a research report on Monday, April 8th. Finally, Evercore ISI lifted their price target on shares of U.S. Bancorp from $46.00 to $48.00 and gave the stock an “in-line” rating in a report on Thursday, March 28th. Fifteen investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, U.S. Bancorp presently has an average rating of “Hold” and a consensus price target of $46.02.

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.