TIAA Trust National Association Decreases Position in U.S. Bancorp (NYSE:USB)

TIAA Trust National Association lowered its stake in shares of U.S. Bancorp (NYSE:USB) by 7.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 54,000 shares of the financial services provider’s stock after selling 4,533 shares during the quarter. TIAA Trust National Association’s holdings in U.S. Bancorp were worth $2,414,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. raised its position in U.S. Bancorp by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 135,371,282 shares of the financial services provider’s stock valued at $6,051,096,000 after purchasing an additional 502,776 shares in the last quarter. Cornerstone Advisors LLC raised its holdings in U.S. Bancorp by 5.7% in the first quarter. Cornerstone Advisors LLC now owns 92,400 shares of the financial services provider’s stock valued at $4,130,000 after acquiring an additional 5,000 shares in the last quarter. Intech Investment Management LLC lifted its stake in U.S. Bancorp by 44.6% in the first quarter. Intech Investment Management LLC now owns 9,373 shares of the financial services provider’s stock worth $419,000 after acquiring an additional 2,889 shares during the last quarter. Nicolet Advisory Services LLC increased its position in shares of U.S. Bancorp by 8.7% in the 1st quarter. Nicolet Advisory Services LLC now owns 21,662 shares of the financial services provider’s stock valued at $952,000 after purchasing an additional 1,736 shares during the last quarter. Finally, Pinnacle Wealth Planning Services Inc. raised its holdings in shares of U.S. Bancorp by 23.3% in the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 10,012 shares of the financial services provider’s stock valued at $448,000 after purchasing an additional 1,890 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at U.S. Bancorp

In other news, Director Aleem Gillani purchased 10,000 shares of the company’s stock in a transaction on Thursday, July 18th. The stock was bought at an average cost of $44.99 per share, for a total transaction of $449,900.00. Following the completion of the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $449,900. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.23% of the stock is owned by company insiders.

U.S. Bancorp Price Performance

U.S. Bancorp stock traded up $0.23 during midday trading on Monday, reaching $44.99. 5,015,879 shares of the company were exchanged, compared to its average volume of 8,551,162. The company has a market capitalization of $70.21 billion, a price-to-earnings ratio of 14.82, a P/E/G ratio of 4.34 and a beta of 1.04. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.81 and a current ratio of 0.81. The firm’s 50-day simple moving average is $40.39 and its 200-day simple moving average is $41.45. U.S. Bancorp has a 1 year low of $30.47 and a 1 year high of $45.85.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.04. The firm had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.81 billion. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. U.S. Bancorp’s revenue was down 4.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.12 earnings per share. On average, analysts anticipate that U.S. Bancorp will post 3.89 EPS for the current year.

U.S. Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were paid a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date of this dividend was Friday, June 28th. U.S. Bancorp’s dividend payout ratio is currently 64.90%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on USB shares. The Goldman Sachs Group increased their target price on shares of U.S. Bancorp from $42.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday. Oppenheimer cut their target price on U.S. Bancorp from $55.00 to $54.00 and set an “outperform” rating on the stock in a research report on Thursday, April 18th. UBS Group upped their target price on U.S. Bancorp from $43.00 to $46.00 and gave the company a “neutral” rating in a research report on Thursday. Citigroup boosted their price objective on U.S. Bancorp from $45.00 to $49.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Jefferies Financial Group lowered their target price on shares of U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating on the stock in a research report on Wednesday, July 3rd. Thirteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $47.72.

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.