Skandinaviska Enskilda Banken AB publ Sells 12,300 Shares of U.S. Bancorp (USB)

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Skandinaviska Enskilda Banken AB publ reduced its holdings in shares of U.S. Bancorp (NYSE:USB) by 4.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 256,898 shares of the financial services provider’s stock after selling 12,300 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in U.S. Bancorp were worth $13,567,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in USB. Horan Capital Management bought a new stake in U.S. Bancorp during the 2nd quarter worth approximately $109,000. Integrated Investment Consultants LLC bought a new stake in U.S. Bancorp during the 2nd quarter worth approximately $135,000. Field & Main Bank increased its holdings in U.S. Bancorp by 49.9% during the 2nd quarter. Field & Main Bank now owns 3,004 shares of the financial services provider’s stock worth $159,000 after acquiring an additional 1,000 shares during the period. NEXT Financial Group Inc bought a new stake in U.S. Bancorp during the 3rd quarter worth approximately $181,000. Finally, Polaris Greystone Financial Group LLC bought a new stake in U.S. Bancorp during the 3rd quarter worth approximately $185,000. Institutional investors own 74.42% of the company’s stock.

A number of analysts recently weighed in on the stock. ValuEngine lowered shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, August 2nd. Wedbush set a $58.00 target price on shares of U.S. Bancorp and gave the stock a “hold” rating in a report on Thursday, October 18th. Macquarie raised shares of U.S. Bancorp from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $56.00 to $62.00 in a report on Wednesday, October 10th. Zacks Investment Research lowered shares of U.S. Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, September 25th. Finally, UBS Group raised shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating in a report on Thursday, October 18th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $59.36.

In other news, Vice Chairman Terrance R. Dolan sold 15,524 shares of the stock in a transaction on Thursday, October 18th. The shares were sold at an average price of $52.91, for a total value of $821,374.84. Following the transaction, the insider now owns 124,086 shares of the company’s stock, valued at approximately $6,565,390.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Andrew Cecere sold 183,374 shares of the stock in a transaction on Thursday, November 8th. The stock was sold at an average price of $52.95, for a total transaction of $9,709,653.30. Following the completion of the transaction, the chairman now directly owns 892,517 shares in the company, valued at approximately $47,258,775.15. The disclosure for this sale can be found here. Insiders sold a total of 216,406 shares of company stock worth $11,420,610 in the last three months. Insiders own 0.43% of the company’s stock.

Shares of NYSE:USB opened at $53.15 on Friday. The firm has a market capitalization of $84.97 billion, a PE ratio of 13.45, a P/E/G ratio of 1.71 and a beta of 0.91. U.S. Bancorp has a one year low of $48.49 and a one year high of $58.50. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.84 and a current ratio of 0.85.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Wednesday, October 17th. The financial services provider reported $1.06 EPS for the quarter, topping the Zacks’ consensus estimate of $1.04 by $0.02. The firm had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.68 billion. U.S. Bancorp had a net margin of 27.53% and a return on equity of 15.14%. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.88 EPS. Research analysts expect that U.S. Bancorp will post 4.1 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Friday, September 28th were issued a $0.37 dividend. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.30. The ex-dividend date was Thursday, September 27th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.78%. U.S. Bancorp’s dividend payout ratio is presently 43.27%.

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U.S. Bancorp Company Profile

U.S. Bancorp, a financial services holding company, provides various financial services in the United States. The company operates through five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.

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Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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