SummitTX Capital L.P. Sells 19,720 Shares of U.S. Bancorp $USB

SummitTX Capital L.P. lessened its holdings in shares of U.S. Bancorp (NYSE:USB) by 32.6% in the first quarter, according to its most recent filing with the SEC. The firm owned 40,800 shares of the financial services provider’s stock after selling 19,720 shares during the period. SummitTX Capital L.P.’s holdings in U.S. Bancorp were worth $2,122,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in U.S. Bancorp by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 146,376,783 shares of the financial services provider’s stock valued at $7,810,665,000 after purchasing an additional 1,828,404 shares during the last quarter. State Street Corp boosted its holdings in U.S. Bancorp by 0.8% during the fourth quarter. State Street Corp now owns 69,701,898 shares of the financial services provider’s stock worth $3,755,083,000 after buying an additional 522,368 shares during the last quarter. Geode Capital Management LLC boosted its holdings in U.S. Bancorp by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 37,679,617 shares of the financial services provider’s stock worth $2,002,518,000 after buying an additional 443,646 shares during the last quarter. Norges Bank acquired a new position in shares of U.S. Bancorp during the 4th quarter worth about $1,887,497,000. Finally, Auto Owners Insurance Co grew its position in shares of U.S. Bancorp by 5,236.0% during 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 period. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insiders Place Their Bets

In other U.S. Bancorp news, insider Stephen L. Philipson sold 36,906 shares of U.S. Bancorp stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $63.08, for a total value of $2,328,030.48. Following the sale, the insider owned 74,969 shares of the company’s stock, valued at $4,729,044.52. This trade represents a 32.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Venkatachari Dilip sold 34,522 shares of the business’s stock in a transaction dated 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 completion of the sale, the executive vice president owned 51,292 shares in the company, valued at approximately $2,847,731.84. This trade represents a 40.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. CLSA set a $67.50 price target on shares of U.S. Bancorp in a research report on Monday, July 20th. Raymond James Financial assumed coverage on shares of U.S. Bancorp in a report on Wednesday, July 8th. They issued a “strong-buy” rating and a $72.00 target price on the stock. Stephens lifted their price target on shares of U.S. Bancorp from $63.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Friday, July 17th. BTIG Research set a $67.50 price target on shares of U.S. Bancorp in a report on Monday, July 20th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of U.S. Bancorp from $63.00 to $66.00 and gave the company a “market perform” rating in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, U.S. Bancorp currently has a consensus rating of “Moderate Buy” and an average price target of $67.00.

U.S. Bancorp Price Performance

NYSE USB opened at $64.45 on Wednesday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.82 and a current ratio of 0.83. The stock has a market cap of $99.97 billion, a price-to-earnings ratio of 12.86, a PEG ratio of 1.04 and a beta of 0.96. The business has a 50 day simple moving average of $59.32 and a 200 day simple moving average of $56.55. U.S. Bancorp has a 52-week low of $43.46 and a 52-week high of $64.84.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.07. The firm had revenue of $7.71 billion for the quarter, compared to analyst estimates of $7.58 billion. U.S. Bancorp had a net margin of 18.49% and a return on equity of 13.69%. During the same quarter in the previous year, the firm posted $1.11 earnings per share. Analysts anticipate that U.S. Bancorp will post 5.22 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Tuesday, June 30th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 41.52%.

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.