U.S. Bancorp (NYSE:USB) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lessened its holdings in shares of U.S. Bancorp (NYSE:USB) by 4.0% during the 2nd quarter, Holdings Channel reports. The firm owned 224,195 shares of the financial services provider’s stock after selling 9,344 shares during the period. Mutual of America Capital Management LLC’s holdings in U.S. Bancorp were worth $8,901,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Redwood Wealth Management Group LLC acquired a new stake in shares of U.S. Bancorp during the second quarter worth about $25,000. Financial Synergies Wealth Advisors Inc. acquired a new stake in shares of U.S. Bancorp during the first quarter worth about $30,000. LRI Investments LLC acquired a new stake in shares of U.S. Bancorp during the first quarter worth about $31,000. Eagle Bay Advisors LLC lifted its position in shares of U.S. Bancorp by 93.2% during the first quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 331 shares in the last quarter. Finally, 1620 Investment Advisors Inc. acquired a new stake in shares of U.S. Bancorp during the second quarter worth about $30,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Price Performance

USB stock opened at $45.19 on Thursday. The company has a market capitalization of $70.52 billion, a P/E ratio of 14.96, a PEG ratio of 4.36 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. The business has a 50 day simple moving average of $44.22 and a 200-day simple moving average of $42.27. 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 (NYSE:USB) last posted its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.04. The business had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.81 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The company’s revenue was down 4.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.12 earnings per share. As a group, equities analysts anticipate that U.S. Bancorp will post 3.87 EPS for the current year.

U.S. Bancorp Increases Dividend

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

Insider Activity

In other news, Director Aleem Gillani acquired 10,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The stock was acquired at an average cost of $44.99 per share, with a total value of $449,900.00. Following the completion of the acquisition, the director now owns 10,000 shares of the company’s stock, valued at $449,900. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on USB shares. JPMorgan Chase & Co. cut shares of U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price target on the stock. in a research report on Thursday, June 27th. DA Davidson upped their target price on shares of U.S. Bancorp from $44.00 to $49.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. StockNews.com upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. UBS Group upped their target price on shares of U.S. Bancorp from $43.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $48.00 target price on shares of U.S. Bancorp in a research note on Friday, September 13th. Thirteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price 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.