Meritage Portfolio Management Has $216,000 Stake in U.S. Bancorp (NYSE:USB)

Meritage Portfolio Management decreased its holdings in shares of U.S. Bancorp (NYSE:USB) by 78.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,519 shares of the financial services provider’s stock after selling 16,428 shares during the quarter. Meritage Portfolio Management’s holdings in U.S. Bancorp were worth $216,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in USB. AMF Tjanstepension AB raised its position in U.S. Bancorp by 16.9% during the third quarter. AMF Tjanstepension AB now owns 532,105 shares of the financial services provider’s stock worth $24,401,000 after acquiring an additional 76,914 shares in the last quarter. Czech National Bank raised its position in U.S. Bancorp by 6.9% during the third quarter. Czech National Bank now owns 317,882 shares of the financial services provider’s stock worth $14,537,000 after acquiring an additional 20,522 shares in the last quarter. Brookstone Capital Management raised its position in U.S. Bancorp by 4.7% during the third quarter. Brookstone Capital Management now owns 228,395 shares of the financial services provider’s stock worth $10,445,000 after acquiring an additional 10,163 shares in the last quarter. Hoxton Planning & Management LLC raised its position in U.S. Bancorp by 5.3% during the third quarter. Hoxton Planning & Management LLC now owns 6,597 shares of the financial services provider’s stock worth $302,000 after acquiring an additional 333 shares in the last quarter. Finally, Hexagon Capital Partners LLC raised its position in U.S. Bancorp by 13.3% during the third quarter. Hexagon Capital Partners LLC now owns 4,672 shares of the financial services provider’s stock worth $214,000 after acquiring an additional 550 shares in the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on USB shares. Oppenheimer upped their price target on shares of U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Deutsche Bank Aktiengesellschaft cut 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 note on Thursday, October 24th. Citigroup upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their target price for the stock from $49.00 to $65.00 in a research note on Monday, November 25th. Evercore ISI raised their target price 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. Finally, Robert W. Baird set a $54.00 target price on shares of U.S. Bancorp in a research note on Thursday, October 17th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.21.

U.S. Bancorp Price Performance

Shares of NYSE:USB opened at $47.69 on Friday. The firm has a 50 day moving average of $49.33 and a 200-day moving average of $47.42. The stock has a market capitalization of $74.40 billion, a PE ratio of 12.58, a PEG ratio of 1.77 and a beta of 1.04. The company has a current ratio of 0.81, a quick ratio of 0.80 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) last issued its earnings results on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, beating the consensus estimate of $1.06 by $0.01. The company had revenue of $7.01 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 3.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.99 EPS. On average, equities research analysts predict that U.S. Bancorp will post 4.37 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. Investors of record on Tuesday, December 31st were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.19%. The ex-dividend date was Tuesday, December 31st. U.S. Bancorp’s dividend payout ratio (DPR) is presently 52.77%.

Insider Activity at U.S. Bancorp

In related news, CEO Andrew Cecere sold 102,044 shares of U.S. Bancorp stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $47.25, for a total transaction of $4,821,579.00. Following the sale, the chief executive officer now directly 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Terrance R. Dolan sold 66,317 shares of U.S. Bancorp stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $46.96, for a total transaction of $3,114,246.32. Following the sale, the insider now directly owns 209,482 shares in the company, valued at $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. 0.23% of the stock is currently owned by insiders.

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.