Procyon Advisors LLC Sells 587 Shares of U.S. Bancorp (NYSE:USB)

Procyon Advisors LLC trimmed its holdings in shares of U.S. Bancorp (NYSE:USB) by 2.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 20,269 shares of the financial services provider’s stock after selling 587 shares during the period. Procyon Advisors LLC’s holdings in U.S. Bancorp were worth $969,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of USB. Winch Advisory Services LLC boosted its position in shares of U.S. Bancorp by 1,088.9% during the fourth quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock valued at $26,000 after buying an additional 490 shares during the last quarter. Frazier Financial Advisors LLC lifted its stake in U.S. Bancorp by 222.7% during the 3rd quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 441 shares during the period. Global Wealth Strategies & Associates boosted its holdings in shares of U.S. Bancorp by 70.8% during the 4th quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 250 shares during the last quarter. FNY Investment Advisers LLC bought a new stake in shares of U.S. Bancorp in the fourth quarter worth approximately $38,000. Finally, Kimelman & Baird LLC bought a new position in U.S. Bancorp during the second quarter valued at approximately $40,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on USB shares. Deutsche Bank Aktiengesellschaft downgraded shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 target price for the company. in a research report on Thursday, October 24th. Compass Point lifted their price objective on U.S. Bancorp from $49.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Barclays increased their target price on U.S. Bancorp from $57.00 to $61.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Robert W. Baird set a $54.00 price target on U.S. Bancorp in a research note on Thursday, October 17th. Finally, Evercore ISI increased their price objective on shares of U.S. Bancorp from $51.00 to $54.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 30th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $54.21.

U.S. Bancorp Stock Performance

NYSE USB opened at $48.40 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04. U.S. Bancorp has a twelve month low of $37.81 and a twelve month high of $53.98. The business has a 50-day moving average price of $50.22 and a 200-day moving average price of $46.72. The firm has a market cap of $75.50 billion, a price-to-earnings ratio of 14.80, a price-to-earnings-growth ratio of 2.47 and a beta of 1.05.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.01. The business had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $7 billion. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.99 EPS. As a group, equities research analysts predict that U.S. Bancorp will post 3.91 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. Shareholders of record on Tuesday, December 31st were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.13%. The ex-dividend date was Tuesday, December 31st. U.S. Bancorp’s payout ratio is currently 61.16%.

U.S. Bancorp 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.