King Luther Capital Management Corp Has $19.36 Million Stake in U.S. Bancorp (NYSE:USB)

King Luther Capital Management Corp reduced its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 4.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 404,847 shares of the financial services provider's stock after selling 16,877 shares during the quarter. King Luther Capital Management Corp's holdings in U.S. Bancorp were worth $19,364,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in USB. FMR LLC lifted its position in U.S. Bancorp by 32.7% in the 3rd quarter. FMR LLC now owns 63,913,931 shares of the financial services provider's stock worth $2,922,784,000 after buying an additional 15,746,852 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of U.S. Bancorp by 153.0% in the third quarter. Franklin Resources Inc. now owns 7,949,347 shares of the financial services provider's stock worth $374,573,000 after acquiring an additional 4,807,662 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of U.S. Bancorp during the fourth quarter worth $184,733,000. Charles Schwab Investment Management Inc. boosted its position in U.S. Bancorp by 5.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 49,789,725 shares of the financial services provider's stock valued at $2,381,443,000 after purchasing an additional 2,460,845 shares during the last quarter. Finally, Alecta Tjanstepension Omsesidigt purchased a new position in U.S. Bancorp in the fourth quarter valued at about $111,274,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on USB. DA Davidson raised U.S. Bancorp from a "neutral" rating to a "buy" rating and raised their price target for the stock from $58.00 to $60.00 in a research note on Thursday, January 2nd. Compass Point raised their price objective on shares of U.S. Bancorp from $49.00 to $60.00 and gave the company a "buy" rating in a research report on Tuesday, December 10th. Citigroup raised shares of U.S. Bancorp from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $49.00 to $65.00 in a research report on Monday, November 25th. Barclays raised their price target on shares of U.S. Bancorp from $57.00 to $61.00 and gave the company an "overweight" rating in a report on Monday, January 6th. Finally, Morgan Stanley decreased their price objective on shares of U.S. Bancorp from $60.00 to $59.00 and set an "overweight" rating for the company in a report on Friday, January 17th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $54.21.

Remove Ads

U.S. Bancorp Stock Down 1.8 %

Shares of USB stock opened at $41.60 on Wednesday. The stock has a 50 day moving average of $47.29 and a 200-day moving average of $47.89. The firm has a market cap of $64.81 billion, a PE ratio of 10.98, a price-to-earnings-growth ratio of 1.73 and a beta of 1.02. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. U.S. Bancorp has a 12 month low of $37.81 and a 12 month high of $53.98.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, beating analysts' consensus estimates of $1.06 by $0.01. The firm had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $7 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The business's revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.99 EPS. On average, equities analysts predict that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.81%. U.S. Bancorp's dividend payout ratio (DPR) is presently 52.77%.

Insiders Place Their Bets

In other news, insider Jodi L. Richard sold 30,000 shares of the stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $47.59, for a total value of $1,427,700.00. Following the completion of the transaction, the insider now owns 99,790 shares in the company, valued at approximately $4,749,006.10. This represents a 23.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP James L. Chosy sold 21,451 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at $9,440,751.55. The trade was a 9.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 219,812 shares of company stock worth $10,385,665. 0.23% of the stock is currently owned by company insiders.

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.

Want to see what other hedge funds are holding USB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for U.S. Bancorp (NYSE:USB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.