King Luther Capital Management Corp Sells 148,023 Shares of U.S. Bancorp (NYSE:USB)

King Luther Capital Management Corp lowered its stake in U.S. Bancorp (NYSE:USB) by 17.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 724,875 shares of the financial services provider’s stock after selling 148,023 shares during the quarter. King Luther Capital Management Corp’s holdings in U.S. Bancorp were worth $31,373,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mufg Bank LTD. increased its stake in shares of U.S. Bancorp by 54.1% during the third quarter. Mufg Bank LTD. now owns 68,374,155 shares of the financial services provider’s stock valued at $2,260,450,000 after buying an additional 24,000,000 shares during the period. Norges Bank purchased a new position in shares of U.S. Bancorp during the fourth quarter valued at approximately $827,370,000. Aristotle Capital Management LLC increased its stake in shares of U.S. Bancorp by 266.6% during the third quarter. Aristotle Capital Management LLC now owns 23,467,699 shares of the financial services provider’s stock valued at $775,842,000 after buying an additional 17,066,479 shares during the period. Vanguard Group Inc. increased its stake in shares of U.S. Bancorp by 5.0% during the third quarter. Vanguard Group Inc. now owns 136,513,206 shares of the financial services provider’s stock valued at $4,513,127,000 after buying an additional 6,479,642 shares during the period. Finally, Barclays PLC increased its stake in shares of U.S. Bancorp by 120.4% during the third quarter. Barclays PLC now owns 8,810,834 shares of the financial services provider’s stock valued at $291,285,000 after buying an additional 4,813,976 shares during the period. Institutional investors own 77.60% of the company’s stock.

Wall Street Analysts Forecast Growth

USB has been the topic of several research analyst reports. Barclays reduced their target price on U.S. Bancorp from $56.00 to $52.00 and set an “overweight” rating on the stock in a research note on Thursday, April 18th. Wells Fargo & Company lowered their target price on U.S. Bancorp from $50.00 to $48.00 and set an “overweight” rating on the stock in a report on Thursday, April 18th. Compass Point raised U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their target price for the company from $46.00 to $49.00 in a report on Friday, March 22nd. Morgan Stanley increased their target price on U.S. Bancorp from $44.00 to $45.00 and gave the company an “equal weight” rating in a report on Tuesday, January 30th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $45.00 target price (down previously from $52.00) on shares of U.S. Bancorp in a report on Thursday, April 18th. Fifteen investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $46.02.

U.S. Bancorp Stock Down 0.6 %

Shares of USB stock traded down $0.23 during mid-day trading on Wednesday, hitting $40.95. The stock had a trading volume of 2,490,849 shares, compared to its average volume of 8,382,948. U.S. Bancorp has a 12-month low of $29.33 and a 12-month high of $45.85. The firm has a market capitalization of $63.90 billion, a P/E ratio of 13.57, a price-to-earnings-growth ratio of 2.13 and a beta of 1.05. The firm’s 50-day moving average is $42.13 and its two-hundred day moving average is $41.30. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.82 and a quick ratio of 0.81.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.01. The business had revenue of $6.72 billion during the quarter, compared to analysts’ expectations of $6.71 billion. U.S. Bancorp had a return on equity of 13.93% and a net margin of 12.13%. The business’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.16 EPS. On average, analysts predict that U.S. Bancorp will post 3.84 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were given a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 4.79%. The ex-dividend date of this dividend was Wednesday, March 27th. U.S. Bancorp’s payout ratio is 64.90%.

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.