Park Place Capital Corp Sells 8,168 Shares of U.S. Bancorp (NYSE:USB)

Park Place Capital Corp lessened its position in shares of U.S. Bancorp (NYSE:USB) by 25.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,255 shares of the financial services provider’s stock after selling 8,168 shares during the period. Park Place Capital Corp’s holdings in U.S. Bancorp were worth $1,084,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. CGC Financial Services LLC bought a new position in shares of U.S. Bancorp in the 4th quarter valued at about $25,000. BKM Wealth Management LLC bought a new position in shares of U.S. Bancorp in the 4th quarter valued at about $26,000. Planned Solutions Inc. bought a new position in shares of U.S. Bancorp in the 4th quarter valued at about $27,000. Naples Money Management LLC bought a new position in shares of U.S. Bancorp in the 4th quarter valued at about $30,000. Finally, Financial Synergies Wealth Advisors Inc. bought a new position in shares of U.S. Bancorp in the 1st quarter valued at about $30,000. Institutional investors own 77.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on USB. Compass Point upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their price objective for the company from $46.00 to $49.00 in a report on Friday, March 22nd. Barclays decreased their price objective on U.S. Bancorp from $56.00 to $52.00 and set an “overweight” rating for the company in a report on Thursday, April 18th. HSBC upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and raised their target price for the company from $47.00 to $53.00 in a research note on Thursday, March 28th. UBS Group cut their target price on shares of U.S. Bancorp from $47.00 to $43.00 and set a “neutral” rating for the company in a research note on Friday, April 19th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $45.00 target price (down from $52.00) on shares of U.S. Bancorp in a research note on Thursday, April 18th. Sixteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, U.S. Bancorp presently has an average rating of “Hold” and an average target price of $46.02.

U.S. Bancorp Stock Performance

Shares of USB traded down $0.46 during mid-day trading on Monday, hitting $39.24. 7,988,447 shares of the company’s stock were exchanged, compared to its average volume of 8,405,683. U.S. Bancorp has a 52 week low of $30.47 and a 52 week high of $45.85. The stock’s 50-day simple moving average is $40.35 and its 200-day simple moving average is $41.70. The firm has a market cap of $61.23 billion, a price-to-earnings ratio of 12.98, a price-to-earnings-growth ratio of 3.82 and a beta of 1.04. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 1.07.

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

U.S. Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a $0.49 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.96 dividend on an annualized basis and a yield of 4.99%. U.S. Bancorp’s dividend payout ratio (DPR) is 64.90%.

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.