Rhumbline Advisers Cuts Position in U.S. Bancorp (NYSE:USB)

Rhumbline Advisers decreased its position in shares of U.S. Bancorp (NYSE:USB - Free Report) by 2.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 3,082,955 shares of the financial services provider's stock after selling 61,375 shares during the quarter. Rhumbline Advisers owned approximately 0.20% of U.S. Bancorp worth $147,458,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State Street Corp boosted its stake 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 buying an additional 819,805 shares during the period. FMR LLC grew its holdings in shares of U.S. Bancorp by 32.7% during the third quarter. FMR LLC now owns 63,913,931 shares of the financial services provider's stock worth $2,922,784,000 after purchasing an additional 15,746,852 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of U.S. Bancorp by 3.9% in 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 last quarter. Geode Capital Management LLC raised its stake 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 valued at $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 grew its stake in U.S. Bancorp by 4.0% in the 3rd 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 worth $513,796,000 after buying an additional 436,252 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors.

U.S. Bancorp Trading Down 1.7 %

Shares of U.S. Bancorp stock traded down $0.84 during trading on Wednesday, hitting $47.10. The stock had a trading volume of 10,942,888 shares, compared to its average volume of 9,220,181. The stock has a market cap of $73.48 billion, a PE ratio of 12.43, a PEG ratio of 1.77 and a beta of 1.04. U.S. Bancorp has a 12 month low of $37.81 and a 12 month high of $53.98. The firm's fifty day simple moving average is $48.47 and its 200-day simple moving average is $47.62. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.80.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.01. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The business had revenue of $7.01 billion during the quarter, compared to analyst estimates of $7 billion. During the same quarter in the previous year, the business earned $0.99 earnings per share. The company's revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, sell-side analysts expect that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date was Tuesday, December 31st. U.S. Bancorp's payout ratio is presently 52.77%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on USB shares. Wells Fargo & Company increased their price target on shares of U.S. Bancorp from $60.00 to $62.00 and gave the company an "overweight" rating in a research report on Friday, November 15th. Compass Point upped their price target 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. DA Davidson upgraded U.S. Bancorp from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $58.00 to $60.00 in a report on Thursday, January 2nd. Raymond James upgraded U.S. Bancorp from a "market perform" rating to an "outperform" rating and set a $57.00 price target on the stock in a research report on Thursday, December 19th. Finally, Morgan Stanley reduced their price target on U.S. Bancorp from $60.00 to $59.00 and set an "overweight" rating on the stock in a report on Friday, January 17th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $54.21.

Insider Buying and Selling

In other news, insider Jodi L. Richard sold 30,000 shares of the firm's stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $47.59, for a total transaction of $1,427,700.00. Following the transaction, the insider now directly owns 99,790 shares of the company's stock, valued at approximately $4,749,006.10. This trade represents a 23.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Terrance R. Dolan sold 66,317 shares of U.S. Bancorp stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $46.96, for a total value of $3,114,246.32. Following the sale, the insider now directly owns 209,482 shares of the company's stock, valued at approximately $9,837,274.72. This trade represents a 24.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 219,812 shares of company stock valued at $10,385,665 in the last 90 days. Company insiders own 0.23% of the company's stock.

U.S. Bancorp Company Profile

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.