State of Alaska Department of Revenue Acquires 895 Shares of U.S. Bancorp (USB)
State of Alaska Department of Revenue lifted its holdings in U.S. Bancorp (NYSE:USB) by 0.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 228,718 shares of the financial services provider’s stock after acquiring an additional 895 shares during the quarter. State of Alaska Department of Revenue’s holdings in U.S. Bancorp were worth $10,451,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in USB. Vectors Research Management LLC bought a new position in U.S. Bancorp in the 3rd quarter worth about $101,000. Stelac Advisory Services LLC bought a new position in U.S. Bancorp in the 3rd quarter worth about $103,000. Highwater Wealth Management LLC bought a new position in U.S. Bancorp in the 4th quarter worth about $134,000. TLP Group LLC boosted its stake in U.S. Bancorp by 77.9% in the 3rd quarter. TLP Group LLC now owns 2,688 shares of the financial services provider’s stock worth $142,000 after purchasing an additional 1,177 shares in the last quarter. Finally, NEXT Financial Group Inc bought a new position in U.S. Bancorp in the 3rd quarter worth about $181,000. 75.18% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Vice Chairman Terrance R. Dolan sold 15,524 shares of the stock in a transaction that occurred on Thursday, October 18th. The shares were sold at an average price of $52.91, for a total value of $821,374.84. Following the transaction, the insider now owns 124,086 shares in the company, valued at approximately $6,565,390.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David B. Omaley sold 10,902 shares of the stock in a transaction that occurred on Wednesday, November 14th. The stock was sold at an average price of $53.66, for a total transaction of $585,001.32. Following the completion of the transaction, the director now owns 212,789 shares in the company, valued at approximately $11,418,257.74. The disclosure for this sale can be found here. Insiders have sold a total of 253,073 shares of company stock worth $13,383,882 in the last 90 days. Company insiders own 0.43% of the company’s stock.
U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, October 17th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.04 by $0.02. The business had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.68 billion. U.S. Bancorp had a net margin of 27.53% and a return on equity of 15.14%. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.88 EPS. As a group, analysts expect that U.S. Bancorp will post 4.1 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Monday, December 31st will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.13%. The ex-dividend date is Friday, December 28th. U.S. Bancorp’s dividend payout ratio is currently 43.27%.
A number of brokerages recently issued reports on USB. CIBC upgraded shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating in a research note on Thursday, October 18th. ValuEngine cut shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, October 16th. Zacks Investment Research reiterated a “hold” rating on shares of U.S. Bancorp in a research note on Monday, December 31st. Macquarie upgraded shares of U.S. Bancorp from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $56.00 to $62.00 in a research note on Wednesday, October 10th. Finally, UBS Group set a $56.00 price target on shares of U.S. Bancorp and gave the stock a “hold” rating in a research note on Monday, October 22nd. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $58.91.
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About U.S. Bancorp
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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