U.S. Bancorp $USB Position Lessened by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lowered its position in U.S. Bancorp (NYSE:USB) by 15.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,472 shares of the financial services provider’s stock after selling 9,625 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in U.S. Bancorp were worth $2,584,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Parcion Private Wealth LLC grew its stake in shares of U.S. Bancorp by 0.4% in the 3rd quarter. Parcion Private Wealth LLC now owns 53,412 shares of the financial services provider’s stock valued at $2,581,000 after buying an additional 218 shares in the last quarter. Curbstone Financial Management Corp lifted its stake in U.S. Bancorp by 0.6% in the second quarter. Curbstone Financial Management Corp now owns 39,982 shares of the financial services provider’s stock valued at $1,809,000 after acquiring an additional 222 shares during the last quarter. Bogart Wealth LLC grew its position in U.S. Bancorp by 4.4% in the third quarter. Bogart Wealth LLC now owns 5,507 shares of the financial services provider’s stock worth $266,000 after acquiring an additional 234 shares in the last quarter. Hoxton Planning & Management LLC increased its stake in shares of U.S. Bancorp by 3.4% during the 3rd quarter. Hoxton Planning & Management LLC now owns 7,021 shares of the financial services provider’s stock worth $339,000 after purchasing an additional 234 shares during the last quarter. Finally, Allen Mooney & Barnes Investment Advisors LLC raised its holdings in shares of U.S. Bancorp by 0.5% during the 3rd quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 43,289 shares of the financial services provider’s stock valued at $2,092,000 after purchasing an additional 235 shares in the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, insider Mark G. Runkel sold 32,195 shares of U.S. Bancorp stock in a transaction on Friday, February 6th. The stock was sold at an average price of $60.65, for a total transaction of $1,952,626.75. Following the completion of the transaction, the insider directly owned 97,728 shares of the company’s stock, valued at approximately $5,927,203.20. This trade represents a 24.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.23% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

USB has been the topic of several recent research reports. The Goldman Sachs Group set a $52.00 target price on U.S. Bancorp and gave the company a “neutral” rating in a report on Friday, October 17th. Keefe, Bruyette & Woods raised their price objective on U.S. Bancorp from $58.00 to $59.00 and gave the company a “market perform” rating in a research note on Wednesday, January 21st. Citigroup upped their target price on U.S. Bancorp from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Evercore lifted their price target on shares of U.S. Bancorp from $60.00 to $65.00 and gave the company an “in-line” rating in a research report on Thursday, February 5th. Finally, DA Davidson upped their price objective on shares of U.S. Bancorp from $63.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $59.79.

U.S. Bancorp Price Performance

Shares of U.S. Bancorp stock opened at $57.82 on Friday. The firm has a market cap of $89.87 billion, a P/E ratio of 12.51, a price-to-earnings-growth ratio of 1.06 and a beta of 1.06. The firm’s 50-day simple moving average is $55.30 and its 200-day simple moving average is $50.23. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $61.19. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Tuesday, January 20th. The financial services provider reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.07. U.S. Bancorp had a net margin of 17.66% and a return on equity of 13.48%. The firm had revenue of $7.92 billion during the quarter, compared to analysts’ expectations of $7.31 billion. During the same quarter last year, the company earned $1.07 earnings per share. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, research analysts expect that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Wednesday, December 31st. U.S. Bancorp’s dividend payout ratio is 45.02%.

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.