U.S. Bancorp (NYSE:USB) Shares Sold by South State CORP.

South State CORP. lessened its holdings in shares of U.S. Bancorp (NYSE:USB) by 3.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 84,153 shares of the financial services provider’s stock after selling 3,366 shares during the quarter. South State CORP.’s holdings in U.S. Bancorp were worth $4,655,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Bay Harbor Wealth Management LLC bought a new position in U.S. Bancorp during the 1st quarter worth approximately $26,000. Vantage Consulting Group Inc bought a new position in U.S. Bancorp during the 4th quarter worth approximately $27,000. Field & Main Bank bought a new position in U.S. Bancorp during the 4th quarter worth approximately $27,000. Salem Investment Counselors Inc. lifted its holdings in U.S. Bancorp by 92.3% during the 4th quarter. Salem Investment Counselors Inc. now owns 600 shares of the financial services provider’s stock worth $28,000 after buying an additional 288 shares during the last quarter. Finally, Goodwin Investment Advisory bought a new position in U.S. Bancorp during the 1st quarter worth approximately $29,000. Hedge funds and other institutional investors own 74.31% of the company’s stock.

Shares of USB stock traded down $0.17 during mid-day trading on Thursday, hitting $59.08. 153,716 shares of the stock traded hands, compared to its average volume of 7,327,093. U.S. Bancorp has a twelve month low of $34.01 and a twelve month high of $62.47. The stock has a market capitalization of $88.01 billion, a price-to-earnings ratio of 15.59, a price-to-earnings-growth ratio of 2.20 and a beta of 1.16. The stock’s 50-day simple moving average is $59.11. The company has a current ratio of 0.76, a quick ratio of 0.74 and a debt-to-equity ratio of 0.81.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Wednesday, April 14th. The financial services provider reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.49. U.S. Bancorp had a return on equity of 12.52% and a net margin of 24.16%. The company had revenue of $5.47 billion for the quarter, compared to analysts’ expectations of $5.53 billion. During the same period last year, the firm earned $0.72 EPS. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. Equities analysts forecast that U.S. Bancorp will post 4.57 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, April 15th. Stockholders of record on Wednesday, March 31st were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.84%. The ex-dividend date was Tuesday, March 30th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 54.90%.

USB has been the topic of a number of research analyst reports. Jefferies Financial Group increased their target price on U.S. Bancorp from $55.00 to $66.00 and gave the stock a “buy” rating in a report on Friday, April 9th. Stephens raised their price target on U.S. Bancorp from $52.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday, March 30th. Bank of America raised U.S. Bancorp from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $58.00 to $62.00 in a report on Monday, April 12th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised their price target on U.S. Bancorp from $63.00 to $65.00 in a report on Wednesday, April 21st. Finally, Barclays raised their price target on U.S. Bancorp from $61.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, April 7th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. U.S. Bancorp presently has an average rating of “Buy” and a consensus target price of $60.10.

In related news, EVP Mark G. Runkel sold 9,058 shares of U.S. Bancorp stock in a transaction on Wednesday, April 21st. The stock was sold at an average price of $56.85, for a total value of $514,947.30. Following the transaction, the executive vice president now directly owns 36,572 shares in the company, valued at approximately $2,079,118.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Andrew Cecere sold 184,187 shares of U.S. Bancorp stock in a transaction on Thursday, April 22nd. The stock was sold at an average price of $56.48, for a total value of $10,402,881.76. Following the completion of the transaction, the chief executive officer now owns 1,037,110 shares in the company, valued at $58,575,972.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 312,153 shares of company stock worth $18,005,134. 0.23% of the stock is owned by insiders.

U.S. Bancorp Company Profile

U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments. The company offers depository services, including checking accounts, savings accounts, and time certificate contracts; lending services, such as traditional credit products; and credit card services, lease financing and import/export trade, asset-backed lending, agricultural finance, and other products.

Further Reading: How is diluted EPS different from basic EPS?

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

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