Norden Group LLC Sells 877 Shares of U.S. Bancorp (NYSE:USB)

Norden Group LLC cut its position in U.S. Bancorp (NYSE:USB) by 4.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,068 shares of the financial services provider’s stock after selling 877 shares during the period. Norden Group LLC’s holdings in U.S. Bancorp were worth $717,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Valmark Advisers Inc. lifted its holdings in U.S. Bancorp by 2.9% during the second quarter. Valmark Advisers Inc. now owns 8,707 shares of the financial services provider’s stock worth $346,000 after acquiring an additional 242 shares in the last quarter. Waldron Private Wealth LLC raised its position in shares of U.S. Bancorp by 1.9% during the second quarter. Waldron Private Wealth LLC now owns 13,285 shares of the financial services provider’s stock worth $534,000 after purchasing an additional 247 shares during the period. Naples Global Advisors LLC lifted its holdings in shares of U.S. Bancorp by 0.4% during the 2nd quarter. Naples Global Advisors LLC now owns 65,360 shares of the financial services provider’s stock valued at $2,624,000 after purchasing an additional 248 shares in the last quarter. Kavar Capital Partners Group LLC grew its position in shares of U.S. Bancorp by 4.7% in the 2nd quarter. Kavar Capital Partners Group LLC now owns 5,555 shares of the financial services provider’s stock valued at $221,000 after purchasing an additional 250 shares during the period. Finally, Motley Fool Wealth Management LLC increased its stake in U.S. Bancorp by 0.7% during the 1st quarter. Motley Fool Wealth Management LLC now owns 38,362 shares of the financial services provider’s stock worth $1,715,000 after purchasing an additional 251 shares in the last quarter. 77.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on USB. The Goldman Sachs Group lifted their price target on shares of U.S. Bancorp from $42.00 to $47.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Morgan Stanley upped their target price on shares of 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. Jefferies Financial Group dropped their price target on U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating on the stock in a research note on Wednesday, July 3rd. Evercore ISI upped their price objective on U.S. Bancorp from $45.00 to $48.00 and gave the stock an “in-line” rating in a research report on Tuesday, June 25th. Finally, StockNews.com raised U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Thirteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $48.23.

Insider Activity at U.S. Bancorp

In other news, Director Aleem Gillani acquired 10,000 shares of U.S. Bancorp stock in a transaction dated Thursday, July 18th. The stock was bought at an average price of $44.99 per share, for a total transaction of $449,900.00. Following the completion of the acquisition, the director now directly owns 10,000 shares in the company, valued at approximately $449,900. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.23% of the stock is owned by company insiders.

U.S. Bancorp Price Performance

Shares of NYSE USB opened at $44.49 on Friday. 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 business’s 50 day moving average price is $43.41 and its two-hundred day moving average price is $42.08. The company has a market cap of $69.42 billion, a PE ratio of 14.73, a price-to-earnings-growth ratio of 4.57 and a beta of 1.04. U.S. Bancorp has a twelve month low of $30.47 and a twelve month high of $47.31.

U.S. Bancorp (NYSE:USB) last posted its 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. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The business had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.81 billion. During the same period in the previous year, the firm earned $1.12 EPS. The firm’s revenue was down 4.3% compared to the same quarter last year. On average, analysts predict that U.S. Bancorp will post 3.89 EPS for the current year.

U.S. Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 4.41%. The ex-dividend date was Friday, June 28th. U.S. Bancorp’s payout ratio is 64.90%.

U.S. Bancorp Company 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.