Amalgamated Bank Sells 5,803 Shares of U.S. Bancorp (NYSE:USB)

Amalgamated Bank decreased its holdings in U.S. Bancorp (NYSE:USB) by 1.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 315,063 shares of the financial services provider’s stock after selling 5,803 shares during the period. Amalgamated Bank’s holdings in U.S. Bancorp were worth $12,508,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Redwood Wealth Management Group LLC acquired a new position in shares of U.S. Bancorp during the 2nd quarter worth approximately $25,000. Financial Synergies Wealth Advisors Inc. acquired a new position in shares of U.S. Bancorp in the first quarter valued at $30,000. 1620 Investment Advisors Inc. bought a new position in shares of U.S. Bancorp in the second quarter valued at about $30,000. Eagle Bay Advisors LLC lifted its stake in shares of U.S. Bancorp by 93.2% during the 1st quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock worth $31,000 after buying an additional 331 shares during the last quarter. Finally, LRI Investments LLC bought a new stake in shares of U.S. Bancorp during the 1st quarter worth about $31,000. 77.60% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at U.S. Bancorp

In related news, Director Aleem Gillani purchased 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The shares were bought at an average cost of $44.99 per share, with a total value of $449,900.00. Following the acquisition, the director now owns 10,000 shares of the company’s stock, valued at approximately $449,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Performance

NYSE USB opened at $45.19 on Thursday. The firm’s 50 day simple moving average is $44.22 and its 200 day simple moving average is $42.27. The firm has a market capitalization of $70.52 billion, a price-to-earnings ratio of 14.96, a P/E/G ratio of 4.36 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 1.05. U.S. Bancorp has a 1 year low of $30.47 and a 1 year high of $47.31.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share for the quarter, beating 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 firm had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.81 billion. During the same quarter last year, the business posted $1.12 EPS. The company’s revenue was down 4.3% compared to the same quarter last year. As a group, research analysts expect that U.S. Bancorp will post 3.87 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.50 per share. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date is Monday, September 30th. This represents a $2.00 annualized dividend and a yield of 4.43%. U.S. Bancorp’s payout ratio is presently 66.23%.

Analyst Ratings Changes

Several research firms have weighed in on USB. UBS Group increased their price target on shares of U.S. Bancorp from $43.00 to $46.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. Royal Bank of Canada reissued an “outperform” rating and set a $48.00 price target on shares of U.S. Bancorp in a report on Friday, September 13th. Morgan Stanley upped their price objective on U.S. Bancorp from $47.00 to $54.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. DA Davidson lifted their target price on U.S. Bancorp from $44.00 to $49.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Finally, StockNews.com upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. Thirteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, U.S. Bancorp presently has a consensus rating of “Hold” and an average price target of $48.18.

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.