Whittier Trust Co. of Nevada Inc. Sells 1,844 Shares of U.S. Bancorp (NYSE:USB)

Whittier Trust Co. of Nevada Inc. trimmed its stake in U.S. Bancorp (NYSE:USB) by 9.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,619 shares of the financial services provider’s stock after selling 1,844 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in U.S. Bancorp were worth $699,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of U.S. Bancorp by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 135,371,282 shares of the financial services provider’s stock worth $6,051,096,000 after acquiring an additional 502,776 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of U.S. Bancorp by 8.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 33,719,110 shares of the financial services provider’s stock worth $1,459,363,000 after acquiring an additional 2,598,163 shares in the last quarter. Norges Bank bought a new position in shares of U.S. Bancorp in the 4th quarter worth $827,370,000. Bank of New York Mellon Corp raised its position in shares of U.S. Bancorp by 0.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 13,312,930 shares of the financial services provider’s stock worth $528,523,000 after acquiring an additional 94,841 shares in the last quarter. Finally, Van ECK Associates Corp raised its position in shares of U.S. Bancorp by 3.0% in the 1st quarter. Van ECK Associates Corp now owns 9,207,376 shares of the financial services provider’s stock worth $411,570,000 after acquiring an additional 265,734 shares in the last quarter. 77.60% of the stock is owned by institutional investors.

Insider Buying and Selling at U.S. Bancorp

In other news, Director Aleem Gillani bought 10,000 shares of U.S. Bancorp stock in a transaction on Thursday, July 18th. The stock was acquired at an average price of $44.99 per share, with a total value of $449,900.00. Following the completion of the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at $449,900. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.23% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on USB. JPMorgan Chase & Co. downgraded U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 target price on the stock. in a research note on Thursday, June 27th. Morgan Stanley boosted their target price on U.S. Bancorp from $47.00 to $54.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. DA Davidson boosted their price target on U.S. Bancorp from $44.00 to $49.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. The Goldman Sachs Group boosted their price target on U.S. Bancorp from $42.00 to $47.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Finally, Citigroup boosted their price target on U.S. Bancorp from $45.00 to $49.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Thirteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $48.23.

U.S. Bancorp Stock Up 0.9 %

Shares of USB opened at $46.53 on Friday. U.S. Bancorp has a 52 week low of $30.47 and a 52 week high of $46.77. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $72.61 billion, a price-to-earnings ratio of 15.41, a PEG ratio of 4.20 and a beta of 1.04. The stock’s 50-day moving average price is $42.51 and its 200-day moving average price is $41.82.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.04. The company had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.81 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. U.S. Bancorp’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.12 EPS. On average, sell-side analysts predict that U.S. Bancorp will post 3.9 EPS for the current year.

U.S. Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were issued a dividend of $0.49 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.21%. U.S. Bancorp’s payout ratio is currently 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.