Park National Corp OH Cuts Stock Position in U.S. Bancorp (NYSE:USB)

Park National Corp OH lessened its holdings in U.S. Bancorp (NYSE:USB) by 19.2% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 68,483 shares of the financial services provider’s stock after selling 16,251 shares during the period. Park National Corp OH’s holdings in U.S. Bancorp were worth $3,061,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. CGC Financial Services LLC purchased a new stake in U.S. Bancorp in the 4th quarter worth $25,000. BKM Wealth Management LLC purchased a new stake in U.S. Bancorp in the 4th quarter worth $26,000. Planned Solutions Inc. purchased a new stake in U.S. Bancorp in the 4th quarter worth $27,000. Naples Money Management LLC purchased a new stake in U.S. Bancorp in the 4th quarter worth $30,000. Finally, Pineridge Advisors LLC purchased a new stake in U.S. Bancorp in the 4th quarter worth $41,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on USB shares. Keefe, Bruyette & Woods restated a “market perform” rating and set a $45.00 price objective (down previously from $52.00) on shares of U.S. Bancorp in a research report on Thursday, April 18th. HSBC upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and raised their price objective for the company from $47.00 to $53.00 in a research report on Thursday, March 28th. StockNews.com upgraded U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, June 14th. Barclays cut their price objective on U.S. Bancorp from $56.00 to $52.00 and set an “overweight” rating for the company in a research report on Thursday, April 18th. Finally, UBS Group cut their price objective on U.S. Bancorp from $47.00 to $43.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. Fifteen research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $46.02.

U.S. Bancorp Stock Up 0.5 %

Shares of NYSE USB opened at $39.29 on Wednesday. The firm has a 50-day simple moving average of $40.54 and a two-hundred day simple moving average of $41.72. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.82 and a quick ratio of 0.81. U.S. Bancorp has a 1 year low of $30.47 and a 1 year high of $45.85. The company has a market cap of $61.31 billion, a P/E ratio of 13.01, a PEG ratio of 3.75 and a beta of 1.04.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.01. U.S. Bancorp had a net margin of 12.13% and a return on equity of 13.93%. The firm had revenue of $6.72 billion during the quarter, compared to the consensus estimate of $6.71 billion. During the same quarter in the previous year, the firm posted $1.16 earnings per share. The company’s revenue was down 6.4% on a year-over-year basis. Research analysts anticipate that U.S. Bancorp will post 3.85 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 4.99%. U.S. Bancorp’s dividend payout ratio is presently 64.90%.

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.