Parkside Financial Bank & Trust Decreases Stake in U.S. Bancorp (NYSE:USB)

Parkside Financial Bank & Trust cut its holdings in shares of U.S. Bancorp (NYSE:USB) by 5.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,378 shares of the financial services provider’s stock after selling 975 shares during the period. Parkside Financial Bank & Trust’s holdings in U.S. Bancorp were worth $690,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of USB. Norges Bank purchased a new stake in shares of U.S. Bancorp during the 4th quarter valued at about $827,370,000. Boston Partners purchased a new stake in U.S. Bancorp in the fourth quarter worth approximately $154,517,000. Confluence Investment Management LLC bought a new stake in U.S. Bancorp in the 1st quarter worth approximately $92,192,000. National Bank of Canada FI raised its stake in U.S. Bancorp by 313.8% during the 2nd quarter. National Bank of Canada FI now owns 2,698,642 shares of the financial services provider’s stock valued at $105,903,000 after buying an additional 2,046,522 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in shares of U.S. Bancorp by 88.9% during the 1st quarter. BNP Paribas Financial Markets now owns 2,331,050 shares of the financial services provider’s stock valued at $104,198,000 after buying an additional 1,097,179 shares during the period. 77.60% of the stock is currently owned by institutional investors.

Insider Activity

In other U.S. Bancorp news, Director Aleem Gillani acquired 10,000 shares of the stock in a transaction 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 completion of the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at $449,900. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Price Performance

Shares of USB stock traded down $0.27 during mid-day trading on Friday, hitting $45.27. The company had a trading volume of 922,880 shares, compared to its average volume of 8,307,510. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.80. The stock’s 50 day moving average price is $43.31 and its 200-day moving average price is $42.05. U.S. Bancorp has a 52-week low of $30.47 and a 52-week high of $47.31. The company has a market capitalization of $70.64 billion, a P/E ratio of 15.08, a P/E/G ratio of 4.57 and a beta of 1.04.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.98 EPS for the quarter, beating 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 business had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.81 billion. During the same quarter in the prior year, the firm earned $1.12 EPS. The business’s revenue was down 4.3% on a year-over-year basis. Equities research analysts forecast that U.S. Bancorp will post 3.89 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders 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 annualized dividend and a dividend yield of 4.33%. U.S. Bancorp’s dividend payout ratio (DPR) is 64.90%.

Analysts Set New Price Targets

USB has been the subject of several research analyst reports. Jefferies Financial Group cut their price objective on U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating for the company in a report on Wednesday, July 3rd. The Goldman Sachs Group upped their price target on shares of U.S. Bancorp from $42.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. JPMorgan Chase & Co. cut shares of U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price objective on the stock. in a research note on Thursday, June 27th. Citigroup upped their target price on shares of U.S. Bancorp from $45.00 to $49.00 and gave the company 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 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, the stock currently has an average rating of “Hold” and an average target price of $48.23.

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.