Clarkston Capital Partners LLC Sells 16,354 Shares of U.S. Bancorp $USB

Clarkston Capital Partners LLC trimmed its holdings in shares of U.S. Bancorp (NYSE:USBFree Report) by 2.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 665,273 shares of the financial services provider’s stock after selling 16,354 shares during the period. Clarkston Capital Partners LLC’s holdings in U.S. Bancorp were worth $35,499,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Financial Life Planners bought a new stake in shares of U.S. Bancorp during the 3rd quarter worth $25,000. Clayton Financial Group LLC bought a new stake in U.S. Bancorp in the 4th quarter valued at about $25,000. JPL Wealth Management LLC bought a new stake in U.S. Bancorp in the 3rd quarter valued at about $28,000. Binnacle Investments Inc raised its stake in U.S. Bancorp by 77.8% in the 3rd quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 273 shares during the period. Finally, Rossby Financial LCC raised its stake in U.S. Bancorp by 57.8% in the 4th quarter. Rossby Financial LCC now owns 579 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 212 shares during the period. 77.60% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Venkatachari Dilip sold 34,522 shares of the company’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the sale, the executive vice president directly owned 51,292 shares in the company, valued at $2,847,731.84. This represents a 40.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Jodi L. Richard sold 40,000 shares of the company’s stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total value of $2,280,000.00. Following the sale, the insider owned 207,251 shares in the company, valued at approximately $11,813,307. This represents a 16.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on USB. Royal Bank Of Canada boosted their price objective on U.S. Bancorp from $59.00 to $61.00 and gave the company an “outperform” rating in a research note on Friday, April 17th. Morgan Stanley set a $64.00 price objective on U.S. Bancorp in a research note on Friday, April 17th. JPMorgan Chase & Co. lowered their price objective on U.S. Bancorp from $58.00 to $57.50 and set an “underweight” rating on the stock in a research note on Thursday, April 30th. DA Davidson restated a “buy” rating and issued a $65.00 price objective on shares of U.S. Bancorp in a research note on Friday, April 17th. Finally, Wall Street Zen cut U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, June 6th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, U.S. Bancorp has an average rating of “Moderate Buy” and an average target price of $61.20.

View Our Latest Research Report on USB

U.S. Bancorp Trading Up 2.2%

Shares of USB opened at $58.90 on Friday. The business’s 50-day moving average price is $55.25 and its 200-day moving average price is $54.53. U.S. Bancorp has a twelve month low of $42.55 and a twelve month high of $61.19. The stock has a market cap of $91.37 billion, a PE ratio of 12.35, a P/E/G ratio of 1.04 and a beta of 0.97. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.03.

U.S. Bancorp (NYSE:USBGet Free Report) last announced its quarterly earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.04. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.The firm had revenue of $7.32 billion for the quarter, compared to analysts’ expectations of $7.27 billion. During the same period in the prior year, the business posted $1.03 earnings per share. The company’s revenue was up 4.7% on a year-over-year basis. On average, equities analysts forecast that U.S. Bancorp will post 5.09 EPS for the current fiscal year.

About U.S. Bancorp

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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