First Business Financial Services Inc. Sells 1,701 Shares of U.S. Bancorp (NYSE:USB)

First Business Financial Services Inc. cut its stake in shares of U.S. Bancorp (NYSE:USB) by 15.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,042 shares of the financial services provider’s stock after selling 1,701 shares during the quarter. First Business Financial Services Inc.’s holdings in U.S. Bancorp were worth $359,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in USB. Financial Synergies Wealth Advisors Inc. bought a new position in shares of U.S. Bancorp in the first quarter worth approximately $30,000. 1620 Investment Advisors Inc. bought a new stake in U.S. Bancorp during the second quarter valued at about $30,000. Eagle Bay Advisors LLC lifted its position in shares of U.S. Bancorp by 93.2% in the first quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 331 shares in the last quarter. LRI Investments LLC bought a new position in shares of U.S. Bancorp in the first quarter worth about $31,000. Finally, Crewe Advisors LLC purchased a new stake in shares of U.S. Bancorp during the first quarter worth about $39,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at U.S. Bancorp

In related news, Director Aleem Gillani purchased 10,000 shares of U.S. Bancorp stock in a transaction dated Thursday, July 18th. The stock was purchased at an average cost of $44.99 per share, with a total value of $449,900.00. Following the transaction, the director now owns 10,000 shares in the company, valued at approximately $449,900. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Down 1.3 %

Shares of USB stock traded down $0.59 during mid-day trading on Thursday, hitting $45.47. The stock had a trading volume of 1,543,194 shares, compared to its average volume of 8,324,357. The firm has a market capitalization of $70.95 billion, a P/E ratio of 15.25, a price-to-earnings-growth ratio of 4.57 and a beta of 1.04. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.80. U.S. Bancorp has a 12-month low of $30.47 and a 12-month high of $47.31. The firm’s 50-day moving average is $43.20 and its two-hundred day moving average is $42.02.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.04. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The company had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.81 billion. During the same period in the prior year, the business earned $1.12 EPS. The firm’s quarterly revenue was down 4.3% on a year-over-year basis. On average, analysts predict that U.S. Bancorp will post 3.89 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business 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 yield of 4.31%. U.S. Bancorp’s dividend payout ratio is currently 64.90%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on USB. Morgan Stanley boosted their price target on U.S. Bancorp from $47.00 to $54.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. StockNews.com upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, July 17th. Evercore ISI boosted their price target on shares of U.S. Bancorp from $45.00 to $48.00 and gave the stock an “in-line” rating in a research note on Tuesday, June 25th. UBS Group lifted their target price on U.S. Bancorp from $43.00 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Finally, Jefferies Financial Group dropped their price target on U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating for the company in a research note on Wednesday, July 3rd. Thirteen equities 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, the stock presently has an average rating of “Hold” and a consensus price target of $48.23.

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.