U.S. Bancorp $USB Shares Sold by Koss Olinger Consulting LLC

Koss Olinger Consulting LLC trimmed its holdings in shares of U.S. Bancorp (NYSE:USB) by 13.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,167 shares of the financial services provider’s stock after selling 819 shares during the period. Koss Olinger Consulting LLC’s holdings in U.S. Bancorp were worth $234,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Envestnet Asset Management Inc. raised its holdings in shares of U.S. Bancorp by 2.3% during the second quarter. Envestnet Asset Management Inc. now owns 7,387,388 shares of the financial services provider’s stock worth $334,279,000 after purchasing an additional 165,821 shares during the period. Nisa Investment Advisors LLC raised its holdings in shares of U.S. Bancorp by 4.6% during the second quarter. Nisa Investment Advisors LLC now owns 412,695 shares of the financial services provider’s stock worth $18,881,000 after purchasing an additional 18,145 shares during the period. Resonant Capital Advisors LLC raised its holdings in shares of U.S. Bancorp by 3.2% during the second quarter. Resonant Capital Advisors LLC now owns 54,566 shares of the financial services provider’s stock worth $2,496,000 after purchasing an additional 1,682 shares during the period. New Hampshire Trust raised its holdings in shares of U.S. Bancorp by 8.3% during the second quarter. New Hampshire Trust now owns 9,330 shares of the financial services provider’s stock worth $422,000 after purchasing an additional 717 shares during the period. Finally, Oppenheimer Asset Management Inc. raised its holdings in shares of U.S. Bancorp by 12.4% during the second quarter. Oppenheimer Asset Management Inc. now owns 63,097 shares of the financial services provider’s stock worth $2,855,000 after purchasing an additional 6,984 shares during the period. 77.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Chairman Andrew Cecere sold 140,445 shares of the firm’s stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $46.34, for a total transaction of $6,508,221.30. Following the completion of the transaction, the chairman owned 1,360,414 shares in the company, valued at approximately $63,041,584.76. This trade represents a 9.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP James L. Chosy sold 26,909 shares of the firm’s stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $46.86, for a total transaction of $1,260,955.74. Following the transaction, the executive vice president owned 226,375 shares of the company’s stock, valued at approximately $10,607,932.50. This trade represents a 10.62% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Performance

Shares of USB opened at $47.82 on Tuesday. The firm has a 50-day moving average price of $48.13 and a 200 day moving average price of $45.29. The firm has a market capitalization of $74.42 billion, a PE ratio of 10.94, a P/E/G ratio of 1.29 and a beta of 1.06. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.10. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $53.98.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Thursday, October 16th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.11. The firm had revenue of $7.34 billion during the quarter, compared to analyst estimates of $7.17 billion. U.S. Bancorp had a net margin of 16.89% and a return on equity of 13.34%. U.S. Bancorp’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.03 EPS. On average, sell-side analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were given a dividend of $0.52 per share. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.50. The ex-dividend date was Tuesday, September 30th. This represents a $2.08 annualized dividend and a dividend yield of 4.3%. U.S. Bancorp’s payout ratio is 47.60%.

Analysts Set New Price Targets

USB has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $52.50 price target for the company in a research report on Thursday, October 23rd. UBS Group upped their price target on shares of U.S. Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 7th. Wells Fargo & Company upped their price target on shares of U.S. Bancorp from $50.00 to $52.00 and gave the stock an “overweight” rating in a research report on Friday, October 17th. DA Davidson upped their price target on shares of U.S. Bancorp from $57.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Finally, Cowen restated a “buy” rating on shares of U.S. Bancorp in a research report on Monday, October 20th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $54.55.

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.