Columbia Asset Management Sells 13,650 Shares of U.S. Bancorp (NYSE:USB)

Columbia Asset Management lessened its holdings in U.S. Bancorp (NYSE:USB) by 23.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,017 shares of the financial services provider’s stock after selling 13,650 shares during the quarter. Columbia Asset Management’s holdings in U.S. Bancorp were worth $1,747,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Financial Synergies Wealth Advisors Inc. acquired a new position in shares of U.S. Bancorp during the 1st quarter worth about $30,000. 1620 Investment Advisors Inc. bought a new stake in U.S. Bancorp during the second quarter worth about $30,000. Eagle Bay Advisors LLC boosted its position in 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 valued at $31,000 after purchasing an additional 331 shares during the last quarter. LRI Investments LLC bought a new position in U.S. Bancorp in the first quarter valued at approximately $31,000. Finally, Crewe Advisors LLC bought a new position in U.S. Bancorp in the first quarter valued at approximately $39,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on USB. Wells Fargo & Company increased their price objective on U.S. Bancorp from $48.00 to $52.00 and gave the company an “overweight” rating in a report on Thursday, July 18th. DA Davidson lifted their price objective on shares of U.S. Bancorp from $44.00 to $49.00 and gave the company a “neutral” rating in a research report 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 company an “equal weight” rating in a report on Tuesday, July 30th. Citigroup lifted their price target on U.S. Bancorp from $45.00 to $49.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Finally, StockNews.com raised U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Thirteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, U.S. Bancorp currently has an average rating of “Hold” and an average target price of $48.23.

U.S. Bancorp Stock Down 1.1 %

Shares of USB opened at $45.55 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $71.07 billion, a PE ratio of 15.08, a P/E/G ratio of 4.57 and a beta of 1.04. The firm’s 50 day moving average is $43.31 and its 200-day moving average is $42.05. U.S. Bancorp has a 12 month low of $30.47 and a 12 month high of $47.31.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.98 EPS for the quarter, beating analysts’ consensus estimates 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%. U.S. Bancorp’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.12 earnings per share. Equities research analysts forecast that U.S. Bancorp will post 3.89 EPS for the current year.

U.S. Bancorp Announces Dividend

The business also recently declared 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 4.30%. The ex-dividend date was Friday, June 28th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 64.90%.

Insider Buying and Selling

In other U.S. Bancorp news, Director Aleem Gillani acquired 10,000 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The stock was acquired at an average price of $44.99 per share, for a total transaction of $449,900.00. Following the acquisition, the director now directly owns 10,000 shares in the company, valued at $449,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.23% of the stock is owned by corporate insiders.

About U.S. Bancorp

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.