Parthenon LLC Sells 400 Shares of U.S. Bancorp (NYSE:USB)

Parthenon LLC decreased its holdings in shares of U.S. Bancorp (NYSE:USB) by 1.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,308 shares of the financial services provider’s stock after selling 400 shares during the period. Parthenon LLC’s holdings in U.S. Bancorp were worth $1,362,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of U.S. Bancorp by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 135,371,282 shares of the financial services provider’s stock valued at $6,051,096,000 after acquiring an additional 502,776 shares during the period. Norges Bank purchased a new position in shares of U.S. Bancorp during the 4th quarter valued at $827,370,000. Davis Selected Advisers lifted its stake in shares of U.S. Bancorp by 0.3% during the 2nd quarter. Davis Selected Advisers now owns 14,228,444 shares of the financial services provider’s stock valued at $564,869,000 after buying an additional 43,437 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of U.S. Bancorp by 0.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 13,312,930 shares of the financial services provider’s stock valued at $528,523,000 after buying an additional 94,841 shares in the last quarter. Finally, Van ECK Associates Corp lifted its stake in shares of U.S. Bancorp by 2.9% during the 2nd quarter. Van ECK Associates Corp now owns 9,478,454 shares of the financial services provider’s stock valued at $376,295,000 after buying an additional 271,078 shares in the last quarter. Institutional investors own 77.60% of the company’s stock.

Insider Activity at U.S. Bancorp

In other news, Director Aleem Gillani bought 10,000 shares of the stock in a transaction on Thursday, July 18th. The stock was bought at an average cost of $44.99 per share, for a total transaction of $449,900.00. Following the completion of the purchase, the director now directly owns 10,000 shares in the company, valued at $449,900. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.23% of the stock is currently owned by corporate insiders.

U.S. Bancorp Stock Performance

U.S. Bancorp stock opened at $43.85 on Friday. The firm has a market capitalization of $68.43 billion, a P/E ratio of 14.52, a price-to-earnings-growth ratio of 4.34 and a beta of 1.03. The company’s 50-day moving average is $43.82 and its 200 day moving average is $42.17. U.S. Bancorp has a 1-year low of $30.47 and a 1-year high of $47.31. 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 (NYSE:USB) last issued its earnings results on Wednesday, July 17th. The financial services provider reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.04. The business had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.81 billion. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period last year, the company posted $1.12 earnings per share. Research analysts forecast that U.S. Bancorp will post 3.87 EPS for the current year.

U.S. Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a dividend of $0.50 per share. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.56%. U.S. Bancorp’s dividend payout ratio (DPR) is 64.90%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on USB shares. Royal Bank of Canada lifted their target price on shares of U.S. Bancorp from $47.00 to $48.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. The Goldman Sachs Group lowered their target price on shares of U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. cut shares of U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 target price on the stock. in a research note on Thursday, June 27th. Morgan Stanley boosted their price target on shares of U.S. Bancorp from $47.00 to $54.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Finally, UBS Group boosted their price target 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. Thirteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $48.18.

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.