Parkwood LLC Decreases Stake in U.S. Bancorp $USB

Parkwood LLC trimmed its position in U.S. Bancorp (NYSE:USB) by 25.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 311,436 shares of the financial services provider’s stock after selling 107,956 shares during the quarter. U.S. Bancorp comprises 1.3% of Parkwood LLC’s holdings, making the stock its 24th largest position. Parkwood LLC’s holdings in U.S. Bancorp were worth $14,092,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of USB. Curbstone Financial Management Corp boosted its stake in shares of U.S. Bancorp by 0.6% during the 2nd quarter. Curbstone Financial Management Corp now owns 39,982 shares of the financial services provider’s stock worth $1,809,000 after acquiring an additional 222 shares in the last quarter. Crestwood Advisors Group LLC raised its holdings in U.S. Bancorp by 3.5% in the 2nd quarter. Crestwood Advisors Group LLC now owns 7,021 shares of the financial services provider’s stock worth $318,000 after purchasing an additional 237 shares during the period. Mechanics Financial Corp grew its holdings in U.S. Bancorp by 5.3% in the second quarter. Mechanics Financial Corp now owns 4,806 shares of the financial services provider’s stock valued at $217,000 after purchasing an additional 240 shares during the period. Northern Financial Advisors Inc lifted its position in shares of U.S. Bancorp by 5.0% during the 2nd quarter. Northern Financial Advisors Inc now owns 5,033 shares of the financial services provider’s stock valued at $228,000 after buying an additional 241 shares in the last quarter. Finally, Lawson Kroeker Investment Management Inc. NE increased its position in shares of U.S. Bancorp by 0.5% during the second quarter. Lawson Kroeker Investment Management Inc. NE now owns 46,109 shares of the financial services provider’s stock worth $2,086,000 after purchasing an additional 249 shares in the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other U.S. Bancorp news, EVP James L. Chosy sold 26,909 shares of the business’s stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $46.86, for a total value of $1,260,955.74. Following the completion of the sale, the executive vice president owned 226,375 shares in the company, valued at approximately $10,607,932.50. The trade was a 10.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Andrew Cecere sold 140,445 shares of the firm’s stock in a transaction on Monday, October 20th. The stock was sold at an average price of $46.34, for a total transaction of $6,508,221.30. Following the transaction, the chairman directly owned 1,360,414 shares in the company, valued at $63,041,584.76. The trade was a 9.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.23% of the stock is currently owned by insiders.

U.S. Bancorp Stock Up 0.0%

Shares of NYSE USB opened at $53.59 on Friday. The stock has a market cap of $83.29 billion, a P/E ratio of 12.26, a PEG ratio of 1.01 and a beta of 1.10. The business’s fifty day simple moving average is $47.94 and its 200-day simple moving average is $46.95. U.S. Bancorp has a 12-month low of $35.18 and a 12-month high of $53.96. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.10.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.11. The company had revenue of $7.34 billion for the quarter, compared to the consensus estimate of $7.17 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.U.S. Bancorp’s revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.03 EPS. As a group, equities analysts predict that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $2.08 annualized dividend and a dividend yield of 3.9%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 47.60%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. The Goldman Sachs Group set a $52.00 price target on U.S. Bancorp and gave the company a “neutral” rating in a research report on Friday, October 17th. Wells Fargo & Company upped their target price on shares of U.S. Bancorp from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday, October 17th. Evercore ISI lifted their target price on shares of U.S. Bancorp from $49.00 to $54.00 and gave the company an “in-line” rating in a report on Tuesday, September 30th. DA Davidson raised their price target on U.S. Bancorp from $57.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Finally, UBS Group boosted their price objective on U.S. Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a report on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, U.S. Bancorp currently has an average rating of “Moderate Buy” and an average target price of $54.16.

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.