Elo Mutual Pension Insurance Co Decreases Holdings in U.S. Bancorp (NYSE:USB)

Elo Mutual Pension Insurance Co reduced its stake in U.S. Bancorp (NYSE:USB) by 4.0% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 142,410 shares of the financial services provider’s stock after selling 5,895 shares during the period. Elo Mutual Pension Insurance Co’s holdings in U.S. Bancorp were worth $6,811,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in USB. Franklin Resources Inc. lifted its position in shares of U.S. Bancorp by 153.0% during the 3rd quarter. Franklin Resources Inc. now owns 7,949,347 shares of the financial services provider’s stock valued at $374,573,000 after buying an additional 4,807,662 shares during the last quarter. Raymond James Financial Inc. bought a new stake in U.S. Bancorp in the 4th quarter valued at about $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 worth $2,381,443,000 after purchasing an additional 2,460,845 shares during the period. Alecta Tjanstepension Omsesidigt purchased a new position in shares of U.S. Bancorp in the fourth quarter worth about $111,274,000. Finally, Madison Investment Advisors LLC bought a new stake in shares of U.S. Bancorp in the fourth quarter valued at approximately $96,560,000. Institutional investors own 77.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on USB. Morgan Stanley reduced 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 research note on Friday, January 17th. Oppenheimer boosted their price objective on U.S. Bancorp from $62.00 to $63.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Bank of America cut their target price on U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating for the company in a research note on Monday, March 17th. Raymond James raised U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 target price for the company in a report on Thursday, December 19th. Finally, Compass Point increased their price target on shares of U.S. Bancorp from $49.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Ten analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.48.

U.S. Bancorp Price Performance

Shares of U.S. Bancorp stock opened at $43.25 on Friday. The firm has a market capitalization of $67.39 billion, a PE ratio of 11.41, a price-to-earnings-growth ratio of 1.73 and a beta of 1.02. 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. The business’s 50-day moving average price is $45.87 and its 200-day moving average price is $47.57.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. The business had revenue of $7.01 billion for 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 quarterly revenue was up 3.7% on a year-over-year basis. During the same period last year, the business earned $0.99 earnings per share. Sell-side analysts forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.62%. The ex-dividend date of this dividend is Monday, March 31st. U.S. Bancorp’s dividend payout ratio is presently 52.77%.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, CEO Andrew Cecere sold 102,044 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $58,132,431. The trade was a 7.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Terrance R. Dolan sold 66,317 shares of the stock in a transaction that occurred 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 position. The disclosure for this sale can be found here. Insiders sold a total of 219,812 shares of company stock worth $10,385,665 over the last three months. Company insiders own 0.23% of the company’s stock.

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.