Northeast Investment Management Sells 1,923 Shares of U.S. Bancorp (NYSE:USB)

Northeast Investment Management trimmed its holdings in shares of U.S. Bancorp (NYSE:USB) by 10.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,206 shares of the financial services provider’s stock after selling 1,923 shares during the quarter. Northeast Investment Management’s holdings in U.S. Bancorp were worth $775,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. State Street Corp boosted its position in U.S. Bancorp by 1.2% during the third quarter. State Street Corp now owns 67,282,970 shares of the financial services provider’s stock valued at $3,110,115,000 after acquiring an additional 819,805 shares during the last quarter. FMR LLC boosted its position in shares of U.S. Bancorp by 32.7% during the 3rd quarter. FMR LLC now owns 63,913,931 shares of the financial services provider’s stock valued at $2,922,784,000 after purchasing an additional 15,746,852 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in U.S. Bancorp by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 47,328,880 shares of the financial services provider’s stock worth $2,164,350,000 after purchasing an additional 1,796,336 shares during the period. Geode Capital Management LLC increased its holdings in U.S. Bancorp by 1.8% in the third quarter. Geode Capital Management LLC now owns 33,086,597 shares of the financial services provider’s stock worth $1,507,616,000 after purchasing an additional 599,852 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in U.S. Bancorp by 4.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,235,426 shares of the financial services provider’s stock valued at $513,796,000 after buying an additional 436,252 shares during the period. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Royal Bank of Canada set a $53.00 price objective on U.S. Bancorp in a research note on Thursday, October 17th. Morgan Stanley decreased their price target on shares of U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Evercore ISI raised their price objective on shares of U.S. Bancorp from $51.00 to $54.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Wells Fargo & Company boosted their target price on shares of U.S. Bancorp from $60.00 to $62.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Finally, Raymond James upgraded U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price target for the company in a research note on Thursday, December 19th. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $54.21.

Insider Activity at U.S. Bancorp

In related news, EVP James L. Chosy sold 21,451 shares of U.S. Bancorp stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $47.65, for a total transaction of $1,022,140.15. Following the transaction, the executive vice president now directly owns 198,127 shares in the company, valued at approximately $9,440,751.55. The trade was a 9.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Andrew Cecere sold 102,044 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $47.25, for a total value of $4,821,579.00. Following the completion of the sale, the chief executive officer now owns 1,230,316 shares of the company’s stock, valued at approximately $58,132,431. The trade was a 7.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 219,812 shares of company stock valued at $10,385,665 over the last 90 days. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Down 1.1 %

Shares of U.S. Bancorp stock opened at $47.22 on Friday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81. U.S. Bancorp has a 52-week low of $37.81 and a 52-week high of $53.98. The company’s 50 day moving average price is $49.09 and its 200-day moving average price is $47.44. The stock has a market capitalization of $73.66 billion, a price-to-earnings ratio of 12.46, a P/E/G ratio of 1.77 and a beta of 1.04.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The business had revenue of $7.01 billion for the quarter, compared to analyst estimates of $7 billion. During the same quarter last year, the firm earned $0.99 EPS. The company’s revenue was up 3.7% on a year-over-year basis. Equities research analysts forecast that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date of this dividend was Tuesday, December 31st. U.S. Bancorp’s payout ratio is 52.77%.

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.