Park Place Capital Corp Sells 10,026 Shares of U.S. Bancorp (NYSE:USB)

Park Place Capital Corp trimmed its holdings in U.S. Bancorp (NYSE:USB) by 41.3% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 14,229 shares of the financial services provider’s stock after selling 10,026 shares during the quarter. Park Place Capital Corp’s holdings in U.S. Bancorp were worth $565,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of USB. Assenagon Asset Management S.A. boosted its position in U.S. Bancorp by 108.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 40,604 shares of the financial services provider’s stock worth $1,757,000 after purchasing an additional 499,485 shares during the last quarter. TIAA Trust National Association boosted its position in U.S. Bancorp by 0.6% in the fourth quarter. TIAA Trust National Association now owns 58,533 shares of the financial services provider’s stock worth $2,533,000 after purchasing an additional 347 shares during the last quarter. Trust Point Inc. purchased a new position in U.S. Bancorp in the fourth quarter worth about $738,000. Ballentine Partners LLC boosted its position in U.S. Bancorp by 64.4% in the fourth quarter. Ballentine Partners LLC now owns 22,586 shares of the financial services provider’s stock worth $978,000 after purchasing an additional 8,844 shares during the last quarter. Finally, Advisory Alpha LLC purchased a new position in U.S. Bancorp in the fourth quarter worth about $228,000. 77.60% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Aleem Gillani bought 10,000 shares of the business’s stock in a transaction dated Thursday, July 18th. The shares were purchased at an average price of $44.99 per share, with a total value of $449,900.00. Following the transaction, the director now owns 10,000 shares in the company, valued at approximately $449,900. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Price Performance

NYSE:USB traded down $1.13 during trading hours on Friday, reaching $42.35. The stock had a trading volume of 8,485,453 shares, compared to its average volume of 9,838,976. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.80 and a current ratio of 0.81. U.S. Bancorp has a 52 week low of $30.47 and a 52 week high of $45.88. The company has a 50 day moving average price of $41.10 and a two-hundred day moving average price of $41.59. The stock has a market capitalization of $66.09 billion, a PE ratio of 14.02, a PEG ratio of 4.20 and a beta of 1.04.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data 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. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The business had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.81 billion. During the same quarter in the previous year, the company posted $1.12 EPS. The company’s revenue was down 4.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that U.S. Bancorp will post 3.9 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were given a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 4.63%. The ex-dividend date was Friday, June 28th. U.S. Bancorp’s dividend payout ratio is currently 64.90%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on USB shares. The Goldman Sachs Group raised their target price on U.S. Bancorp from $42.00 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. JPMorgan Chase & Co. cut U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price objective on the stock. in a research report on Thursday, June 27th. Jefferies Financial Group lowered their price objective on 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. Morgan Stanley lifted their price objective on U.S. Bancorp from $47.00 to $54.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. Finally, Barclays lowered their price objective on U.S. Bancorp from $56.00 to $52.00 and set an “overweight” rating on the stock in a research report on Thursday, April 18th. Thirteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $48.23.

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.