Kovack Advisors Inc. Decreases Stake in U.S. Bancorp (NYSE:USB)

Kovack Advisors Inc. lessened its stake in shares of U.S. Bancorp (NYSE:USB) by 5.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,916 shares of the financial services provider’s stock after selling 669 shares during the quarter. Kovack Advisors Inc.’s holdings in U.S. Bancorp were worth $533,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in USB. Axxcess Wealth Management LLC raised its stake in shares of U.S. Bancorp by 8.0% during the third quarter. Axxcess Wealth Management LLC now owns 15,019 shares of the financial services provider’s stock valued at $497,000 after acquiring an additional 1,109 shares during the last quarter. Ameriprise Financial Inc. raised its position in U.S. Bancorp by 26.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,369,395 shares of the financial services provider’s stock valued at $111,459,000 after purchasing an additional 713,211 shares during the last quarter. Evergreen Capital Management LLC grew its position in shares of U.S. Bancorp by 60.2% in the 3rd quarter. Evergreen Capital Management LLC now owns 14,489 shares of the financial services provider’s stock worth $486,000 after buying an additional 5,447 shares during the last quarter. JT Stratford LLC purchased a new position in shares of U.S. Bancorp during the third quarter valued at approximately $202,000. Finally, Seven Eight Capital LP raised its holdings in shares of U.S. Bancorp by 724.7% during the third quarter. Seven Eight Capital LP now owns 67,286 shares of the financial services provider’s stock valued at $2,224,000 after acquiring an additional 59,127 shares in the last quarter. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Performance

Shares of USB traded down $0.44 during trading hours on Thursday, hitting $39.53. The stock had a trading volume of 3,715,540 shares, compared to its average volume of 8,371,646. The firm has a market capitalization of $61.68 billion, a PE ratio of 13.09, a PEG ratio of 3.85 and a beta of 1.04. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.82 and a quick ratio of 0.81. U.S. Bancorp has a 12 month low of $30.47 and a 12 month high of $45.85. The stock has a fifty day moving average price of $40.30 and a 200 day moving average price of $41.62.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.89 by $0.01. U.S. Bancorp had a net margin of 12.13% and a return on equity of 13.93%. The firm had revenue of $6.72 billion during the quarter, compared to analyst estimates of $6.71 billion. During the same quarter in the prior year, the firm earned $1.16 EPS. The business’s revenue for the quarter was down 6.4% compared to the same quarter last year. Analysts anticipate 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 will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a dividend of $0.49 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.96 annualized dividend and a yield of 4.96%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 64.90%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. StockNews.com downgraded U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday. Evercore ISI boosted their target price on shares of U.S. Bancorp from $45.00 to $48.00 and gave the company an “in-line” rating in a report on Tuesday, June 25th. Wells Fargo & Company lowered their price target on shares of U.S. Bancorp from $50.00 to $48.00 and set an “overweight” rating for the company in a research report on Thursday, April 18th. Morgan Stanley restated an “equal weight” rating and issued a $45.00 price objective on shares of U.S. Bancorp in a report on Friday, June 21st. Finally, DA Davidson dropped their price target on U.S. Bancorp from $45.00 to $44.00 and set a “neutral” rating on the stock in a research report on Thursday, April 18th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $45.84.

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.