FineMark National Bank & Trust Lowers Stock Holdings in U.S. Bancorp (NYSE:USB)

FineMark National Bank & Trust lessened its stake in U.S. Bancorp (NYSE:USB) by 2.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 60,316 shares of the financial services provider’s stock after selling 1,743 shares during the quarter. FineMark National Bank & Trust’s holdings in U.S. Bancorp were worth $2,610,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Corient Private Wealth LLC grew its stake in shares of U.S. Bancorp by 5.7% in the third quarter. Corient Private Wealth LLC now owns 788,129 shares of the financial services provider’s stock valued at $26,069,000 after buying an additional 42,702 shares in the last quarter. Signaturefd LLC increased its position in shares of U.S. Bancorp by 19.5% during the third quarter. Signaturefd LLC now owns 17,390 shares of the financial services provider’s stock worth $575,000 after purchasing an additional 2,840 shares in the last quarter. NBC Securities Inc. acquired a new stake in shares of U.S. Bancorp during the third quarter worth about $714,000. Lincoln National Corp increased its position in U.S. Bancorp by 14.8% in the 3rd quarter. Lincoln National Corp now owns 65,938 shares of the financial services provider’s stock valued at $2,180,000 after acquiring an additional 8,523 shares during the period. Finally, Nicholas Hoffman & Company LLC. increased its position in U.S. Bancorp by 18.9% in the 3rd quarter. Nicholas Hoffman & Company LLC. now owns 31,793 shares of the financial services provider’s stock valued at $1,051,000 after acquiring an additional 5,050 shares during the period. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Stock Up 0.7 %

Shares of NYSE USB traded up $0.30 during midday trading on Friday, reaching $40.32. 1,466,355 shares of the company’s stock were exchanged, compared to its average volume of 8,339,165. U.S. Bancorp has a 52-week low of $29.33 and a 52-week high of $45.85. The stock has a market capitalization of $62.92 billion, a PE ratio of 13.25, a price-to-earnings-growth ratio of 3.93 and a beta of 1.05. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.81 and a current ratio of 0.82. The business’s fifty day moving average price is $42.02 and its two-hundred day moving average price is $41.29.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. The business had revenue of $6.72 billion during the quarter, compared to the consensus estimate of $6.71 billion. U.S. Bancorp had a return on equity of 13.93% and a net margin of 12.13%. The company’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same period last year, the firm earned $1.16 earnings per share. Analysts forecast that U.S. Bancorp will post 3.84 EPS for the current year.

U.S. Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were paid a $0.49 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $1.96 dividend on an annualized basis and a yield of 4.86%. U.S. Bancorp’s payout ratio is currently 64.90%.

Wall Street Analyst Weigh In

USB has been the subject of a number of analyst reports. Jefferies Financial Group increased their target price on U.S. Bancorp from $44.00 to $46.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. Evercore ISI raised their price objective on U.S. Bancorp from $46.00 to $48.00 and gave the company an “in-line” rating in a research note on Thursday, March 28th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $45.00 price objective (down from $52.00) on shares of U.S. Bancorp in a research note on Thursday, April 18th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $47.00 price objective on shares of U.S. Bancorp in a research note on Thursday, May 16th. Finally, StockNews.com raised U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, May 14th. Fifteen analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, U.S. Bancorp has an average rating of “Hold” and an average price target of $46.02.

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.