Park Avenue Securities LLC Has $8.16 Million Stake in U.S. Bancorp $USB

Park Avenue Securities LLC trimmed its stake in U.S. Bancorp (NYSE:USB) by 8.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 168,845 shares of the financial services provider’s stock after selling 15,984 shares during the period. Park Avenue Securities LLC’s holdings in U.S. Bancorp were worth $8,160,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in USB. IMG Wealth Management Inc. bought a new position in shares of U.S. Bancorp in the second quarter valued at approximately $25,000. Hillsdale Investment Management Inc. acquired a new position in U.S. Bancorp in the 2nd quarter valued at $27,000. Pineridge Advisors LLC grew its stake in U.S. Bancorp by 446.2% in the 2nd quarter. Pineridge Advisors LLC now owns 639 shares of the financial services provider’s stock valued at $29,000 after buying an additional 522 shares during the last quarter. True Wealth Design LLC raised its holdings in U.S. Bancorp by 216.7% in the 3rd quarter. True Wealth Design LLC now owns 738 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 505 shares during the period. Finally, Activest Wealth Management lifted its position in U.S. Bancorp by 846.5% during the 2nd quarter. Activest Wealth Management now owns 814 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 728 shares during the last quarter. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Price Performance

Shares of NYSE:USB opened at $54.90 on Thursday. The firm has a market capitalization of $85.34 billion, a PE ratio of 12.56, a PEG ratio of 0.98 and a beta of 1.07. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.10. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $56.19. The business’s 50 day moving average is $50.73 and its 200-day moving average is $48.39.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Thursday, October 16th. The financial services provider reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.11. The business had revenue of $7.34 billion during 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%.U.S. Bancorp’s revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.03 earnings per share. Sell-side analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be paid a $0.52 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.8%. U.S. Bancorp’s dividend payout ratio is currently 47.60%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on USB shares. Deutsche Bank Aktiengesellschaft raised U.S. Bancorp from a “hold” rating to a “buy” rating and set a $52.50 price target on the stock in a research report on Thursday, October 23rd. Barclays raised their target price on U.S. Bancorp from $56.00 to $65.00 and gave the company an “overweight” rating in a report on Monday. Wells Fargo & Company upped their price target on U.S. Bancorp from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, October 17th. Cowen restated a “buy” rating on shares of U.S. Bancorp in a research note on Wednesday. Finally, Keefe, Bruyette & Woods upped their target price on shares of U.S. Bancorp from $53.00 to $58.00 and gave the company a “market perform” rating in a research note on Wednesday, December 17th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $56.30.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, EVP James L. Chosy sold 26,909 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the executive vice president 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Andrew Cecere sold 140,445 shares of U.S. Bancorp stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $46.34, for a total value of $6,508,221.30. Following the sale, the chairman directly owned 1,360,414 shares in the company, valued at $63,041,584.76. The trade was a 9.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.23% of the stock is currently owned by company insiders.

About U.S. Bancorp

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.