King Luther Capital Management Corp Decreases Stock Position in U.S. Bancorp $USB

King Luther Capital Management Corp lessened its holdings in U.S. Bancorp (NYSE:USB) by 10.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 279,986 shares of the financial services provider’s stock after selling 32,831 shares during the quarter. King Luther Capital Management Corp’s holdings in U.S. Bancorp were worth $12,669,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Nuveen LLC acquired a new stake in U.S. Bancorp in the 1st quarter worth approximately $138,183,000. Vanguard Group Inc. raised its stake in U.S. Bancorp by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 141,230,279 shares of the financial services provider’s stock worth $5,962,742,000 after acquiring an additional 2,393,383 shares during the last quarter. American Century Companies Inc. lifted its position in U.S. Bancorp by 17.4% during the 1st quarter. American Century Companies Inc. now owns 10,070,174 shares of the financial services provider’s stock worth $425,163,000 after acquiring an additional 1,493,318 shares during the period. Nordea Investment Management AB grew its stake in U.S. Bancorp by 192.0% during the 2nd quarter. Nordea Investment Management AB now owns 1,994,993 shares of the financial services provider’s stock valued at $90,752,000 after purchasing an additional 1,311,746 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of U.S. Bancorp by 10.5% in the first quarter. Goldman Sachs Group Inc. now owns 11,012,635 shares of the financial services provider’s stock valued at $464,953,000 after purchasing an additional 1,045,509 shares during the period. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Trading Up 1.0%

Shares of U.S. Bancorp stock opened at $47.32 on Monday. The firm’s 50-day moving average price is $47.95 and its 200 day moving average price is $45.88. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $53.98. The firm has a market capitalization of $73.64 billion, a PE ratio of 10.83, a P/E/G ratio of 1.25 and a beta of 1.10. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.10.

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

U.S. Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were paid a $0.52 dividend. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend was Tuesday, September 30th. U.S. Bancorp’s payout ratio is 47.60%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on USB shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of U.S. Bancorp in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. DA Davidson lifted their price objective on U.S. Bancorp from $57.00 to $59.00 and gave the company a “buy” rating in a research note on Friday, October 17th. Truist Financial upped their target price on U.S. Bancorp from $51.00 to $52.00 and gave the stock a “hold” rating in a research note on Friday, October 17th. Finally, Bank of America lifted their price target on U.S. Bancorp from $54.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $54.55.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, EVP James L. Chosy sold 26,909 shares of the firm’s stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $46.86, for a total value of $1,260,955.74. Following the transaction, the executive vice president directly owned 226,375 shares of the company’s stock, valued at $10,607,932.50. This trade represents a 10.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Andrew Cecere sold 140,445 shares of the company’s stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $46.34, for a total value of $6,508,221.30. Following the completion of the sale, the chairman owned 1,360,414 shares of the company’s stock, valued at $63,041,584.76. This trade represents a 9.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.23% of the stock is currently owned by corporate insiders.

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.