Rockefeller Capital Management L.P. Cuts Stock Holdings in U.S. Bancorp $USB

Rockefeller Capital Management L.P. trimmed its stake in U.S. Bancorp (NYSE:USB) by 18.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 227,567 shares of the financial services provider’s stock after selling 52,656 shares during the period. Rockefeller Capital Management L.P.’s holdings in U.S. Bancorp were worth $12,145,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of USB. Norges Bank bought a new stake in U.S. Bancorp during the fourth quarter valued at approximately $1,887,497,000. Auto Owners Insurance Co increased its holdings in shares of U.S. Bancorp by 5,236.0% in the 4th quarter. Auto Owners Insurance Co now owns 33,350,000 shares of the financial services provider’s stock worth $1,779,556,000 after buying an additional 32,725,000 shares during the last quarter. Capital Research Global Investors purchased a new stake in shares of U.S. Bancorp during the 4th quarter valued at $296,377,000. SG Americas Securities LLC raised its position in shares of U.S. Bancorp by 3,451.9% during the 4th quarter. SG Americas Securities LLC now owns 4,332,659 shares of the financial services provider’s stock valued at $231,191,000 after buying an additional 4,210,676 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of U.S. Bancorp by 20.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 24,919,079 shares of the financial services provider’s stock worth $1,329,683,000 after acquiring an additional 4,153,080 shares during the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on USB. Stephens started coverage on shares of U.S. Bancorp in a research report on Monday, June 15th. They issued an “equal weight” rating and a $63.00 target price for the company. Weiss Ratings upgraded U.S. Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 4th. Oppenheimer lifted their price target on U.S. Bancorp from $73.00 to $74.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. JPMorgan Chase & Co. cut their price objective on U.S. Bancorp from $58.00 to $57.50 and set an “underweight” rating for the company in a report on Thursday, April 30th. Finally, Morgan Stanley set a $64.00 price objective on U.S. Bancorp in a research report on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $61.29.

U.S. Bancorp Stock Performance

NYSE USB opened at $60.12 on Thursday. The company has a 50-day simple moving average of $55.90 and a two-hundred day simple moving average of $55.09. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.03. U.S. Bancorp has a 12-month low of $43.46 and a 12-month high of $61.19. The firm has a market cap of $93.25 billion, a price-to-earnings ratio of 12.60, a PEG ratio of 1.04 and a beta of 0.97.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Thursday, April 16th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.04. The firm had revenue of $7.32 billion for the quarter, compared to analysts’ expectations of $7.27 billion. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the firm earned $1.03 earnings per share. On average, equities analysts forecast that U.S. Bancorp will post 5.08 EPS for the current year.

U.S. Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 3.5%. The ex-dividend date is Tuesday, June 30th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 43.61%.

Insider Activity at U.S. Bancorp

In other news, insider Jodi L. Richard sold 40,000 shares of the stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the completion of the sale, the insider owned 207,251 shares of the company’s stock, valued at approximately $11,813,307. This represents a 16.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Venkatachari Dilip sold 34,522 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total value of $1,916,661.44. Following the sale, the executive vice president directly owned 51,292 shares of the company’s stock, valued at approximately $2,847,731.84. This trade represents a 40.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is owned by company insiders.

U.S. Bancorp Profile

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.