NBT Bank N A NY Sells 11,797 Shares of U.S. Bancorp $USB

NBT Bank N A NY lessened its stake in shares of U.S. Bancorp (NYSE:USB) by 28.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 29,000 shares of the financial services provider’s stock after selling 11,797 shares during the period. NBT Bank N A NY’s holdings in U.S. Bancorp were worth $1,402,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of USB. IMG Wealth Management Inc. purchased a new stake in shares of U.S. Bancorp in the 2nd quarter worth $25,000. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of U.S. Bancorp in the third quarter valued at about $26,000. Hillsdale Investment Management Inc. purchased a new stake in U.S. Bancorp in the second quarter worth about $27,000. Pineridge Advisors LLC grew its holdings in U.S. Bancorp by 446.2% during the 2nd quarter. Pineridge Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 522 shares in the last quarter. Finally, Steigerwald Gordon & Koch Inc. purchased a new position in U.S. Bancorp during the 3rd quarter valued at about $31,000. Institutional investors own 77.60% of the company’s stock.

Analyst Ratings Changes

USB has been the topic of a number of recent research reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of U.S. Bancorp in a research note on Wednesday, October 8th. Wolfe Research downgraded U.S. Bancorp from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 7th. Barclays boosted their price target on U.S. Bancorp from $56.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. Morgan Stanley reiterated a “positive” rating on shares of U.S. Bancorp in a research note on Friday, October 17th. Finally, Evercore ISI set a $60.00 price target on shares of U.S. Bancorp in a research report on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $56.30.

Insiders Place Their Bets

In other news, Chairman Andrew Cecere sold 140,445 shares of the business’s stock in a transaction on 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 sale, the chairman directly owned 1,360,414 shares of the company’s stock, valued at $63,041,584.76. The trade was a 9.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP James L. Chosy sold 26,909 shares of the business’s stock in a transaction on 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 sale, the executive vice president directly owned 226,375 shares in the company, valued at $10,607,932.50. This trade represents a 10.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.23% of the company’s stock.

U.S. Bancorp Trading Up 1.0%

U.S. Bancorp stock opened at $54.48 on Friday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market cap of $84.69 billion, a PE ratio of 12.47, a price-to-earnings-growth ratio of 0.94 and a beta of 1.07. The stock has a 50-day moving average of $51.80 and a two-hundred day moving average of $48.84. U.S. Bancorp has a one year low of $35.18 and a one year high of $56.19.

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

U.S. Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Wednesday, December 31st. U.S. Bancorp’s payout ratio is currently 47.60%.

U.S. Bancorp Profile

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.