Merriman Wealth Management LLC lowered its position in U.S. Bancorp (NYSE:USB) by 26.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 14,877 shares of the financial services provider’s stock after selling 5,437 shares during the quarter. Merriman Wealth Management LLC’s holdings in U.S. Bancorp were worth $786,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in the business. First Citizens Bank & Trust Co. bought a new position in U.S. Bancorp in the second quarter worth $382,000. Union Bankshares Corp bought a new position in U.S. Bancorp in the second quarter worth $200,000. Addenda Capital Inc. bought a new position in U.S. Bancorp in the second quarter worth $5,178,000. Norway Savings Bank bought a new position in U.S. Bancorp in the second quarter worth $941,000. Finally, Trust Department MB Financial Bank N A bought a new position in U.S. Bancorp in the second quarter worth $196,000. Institutional investors own 74.42% of the company’s stock.
In related news, Chairman Andrew Cecere sold 183,374 shares of U.S. Bancorp stock in a transaction dated Thursday, November 8th. The stock was sold at an average price of $52.95, for a total value of $9,709,653.30. Following the completion of the sale, the chairman now directly owns 892,517 shares in the company, valued at approximately $47,258,775.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Gillern Jeffry H. Von sold 17,508 shares of U.S. Bancorp stock in a transaction dated Wednesday, October 24th. The stock was sold at an average price of $50.81, for a total value of $889,581.48. Following the completion of the sale, the insider now owns 121,137 shares of the company’s stock, valued at $6,154,970.97. The disclosure for this sale can be found here. Insiders sold a total of 216,406 shares of company stock valued at $11,420,610 over the last quarter. 0.43% of the stock is owned by corporate insiders.
A number of equities analysts have issued reports on USB shares. Wedbush reiterated a “neutral” rating on shares of U.S. Bancorp in a report on Monday, July 23rd. ValuEngine upgraded U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, July 26th. Zacks Investment Research upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a report on Tuesday, September 18th. Macquarie upgraded U.S. Bancorp from a “neutral” rating to an “outperform” rating and raised their price target for the company from $56.00 to $62.00 in a report on Wednesday, October 10th. Finally, UBS Group upgraded U.S. Bancorp from a “market perform” rating to an “outperform” rating in a report on Thursday, October 18th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $59.36.
Shares of NYSE:USB opened at $53.15 on Friday. U.S. Bancorp has a 1-year low of $48.49 and a 1-year high of $58.50. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.91. The firm has a market cap of $84.97 billion, a PE ratio of 13.45, a P/E/G ratio of 1.71 and a beta of 0.91.
U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Wednesday, October 17th. The financial services provider reported $1.06 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.02. U.S. Bancorp had a return on equity of 15.14% and a net margin of 27.53%. The firm had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.68 billion. During the same period last year, the company earned $0.88 earnings per share. The company’s revenue was up 1.6% on a year-over-year basis. On average, sell-side analysts predict that U.S. Bancorp will post 4.1 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 28th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 2.78%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.30. The ex-dividend date was Thursday, September 27th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 43.27%.
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U.S. Bancorp Company Profile
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. The company operates through five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.
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