Cooke & Bieler LP Lowers Holdings in U.S. Bancorp (NYSE:USB)

Cooke & Bieler LP decreased its holdings in U.S. Bancorp (NYSE:USB) by 97.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,672 shares of the financial services provider’s stock after selling 3,295,687 shares during the quarter. Cooke & Bieler LP’s holdings in U.S. Bancorp were worth $3,189,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. BCK Partners Inc. purchased a new stake in shares of U.S. Bancorp during the 1st quarter worth about $2,514,000. Acadian Asset Management LLC grew its holdings in shares of U.S. Bancorp by 3.0% during the 1st quarter. Acadian Asset Management LLC now owns 9,397 shares of the financial services provider’s stock worth $499,000 after purchasing an additional 276 shares during the period. Vontobel Holding Ltd. grew its holdings in shares of U.S. Bancorp by 20.8% during the 1st quarter. Vontobel Holding Ltd. now owns 21,314 shares of the financial services provider’s stock worth $1,176,000 after purchasing an additional 3,663 shares during the period. Prudential PLC purchased a new stake in shares of U.S. Bancorp during the 1st quarter worth about $1,731,000. Finally, Candriam Luxembourg S.C.A. lifted its position in U.S. Bancorp by 5.9% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 86,048 shares of the financial services provider’s stock worth $4,573,000 after acquiring an additional 4,827 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Performance

USB traded up $1.01 during trading on Friday, reaching $40.45. 12,061,759 shares of the company were exchanged, compared to its average volume of 6,861,925. The stock has a market cap of $63.03 billion, a P/E ratio of 13.39, a PEG ratio of 2.05 and a beta of 1.05. The firm has a 50 day moving average of $42.32 and a 200 day moving average of $39.78. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 1.07. U.S. Bancorp has a 52 week low of $27.27 and a 52 week high of $45.85.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. The firm had revenue of $6.72 billion during the quarter, compared to the consensus estimate of $6.71 billion. U.S. Bancorp had a return on equity of 13.93% and a net margin of 12.13%. The firm’s revenue was down 6.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.16 EPS. On average, sell-side analysts forecast that U.S. Bancorp will post 3.85 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were paid a $0.49 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $1.96 annualized dividend and a dividend yield of 4.85%. U.S. Bancorp’s payout ratio is 64.90%.

Analyst Ratings Changes

Several equities analysts recently commented on USB shares. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $45.00 price target (down from $52.00) on shares of U.S. Bancorp in a research report on Thursday. Royal Bank of Canada boosted their price target on U.S. Bancorp from $43.00 to $47.00 and gave the stock an “outperform” rating in a research report on Thursday, January 18th. Compass Point raised U.S. Bancorp from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $46.00 to $49.00 in a research report on Friday, March 22nd. UBS Group reduced their price target on U.S. Bancorp from $47.00 to $43.00 and set a “neutral” rating on the stock in a research report on Friday. Finally, Jefferies Financial Group boosted their price target on U.S. Bancorp from $44.00 to $46.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $46.68.

Insider Transactions at U.S. Bancorp

In other news, EVP James L. Chosy sold 21,582 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $41.47, for a total value of $895,005.54. Following the completion of the transaction, the executive vice president now owns 164,880 shares of the company’s stock, valued at $6,837,573.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP James L. Chosy sold 21,582 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $41.47, for a total value of $895,005.54. Following the completion of the transaction, the executive vice president now owns 164,880 shares of the company’s stock, valued at $6,837,573.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Terrance R. Dolan sold 26,583 shares of the company’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $43.37, for a total value of $1,152,904.71. Following the completion of the sale, the insider now owns 144,236 shares of the company’s stock, valued at approximately $6,255,515.32. The disclosure for this sale can be found here. Company insiders own 0.23% of the company’s stock.

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.