First Midwest Bank Trust Division Has $3.02 Million Position in U.S. Bancorp (USB)

First Midwest Bank Trust Division lowered its holdings in U.S. Bancorp (NYSE:USB) by 1.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 66,163 shares of the financial services provider’s stock after selling 689 shares during the period. First Midwest Bank Trust Division’s holdings in U.S. Bancorp were worth $3,024,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of USB. Bank of New York Mellon Corp increased its stake in U.S. Bancorp by 15.0% in the second quarter. Bank of New York Mellon Corp now owns 15,867,860 shares of the financial services provider’s stock valued at $793,710,000 after acquiring an additional 2,071,326 shares during the period. Morgan Stanley increased its stake in U.S. Bancorp by 32.7% in the third quarter. Morgan Stanley now owns 5,506,411 shares of the financial services provider’s stock valued at $290,793,000 after acquiring an additional 1,358,026 shares during the period. FIL Ltd increased its stake in U.S. Bancorp by 14.2% in the third quarter. FIL Ltd now owns 7,543,687 shares of the financial services provider’s stock valued at $398,382,000 after acquiring an additional 937,634 shares during the period. Wells Fargo & Company MN increased its stake in U.S. Bancorp by 3.5% in the third quarter. Wells Fargo & Company MN now owns 22,390,287 shares of the financial services provider’s stock valued at $1,182,431,000 after acquiring an additional 750,796 shares during the period. Finally, Royal London Asset Management Ltd. bought a new stake in U.S. Bancorp in the second quarter valued at about $37,260,000. 75.17% of the stock is currently owned by institutional investors and hedge funds.

In related news, Vice Chairman Gillern Jeffry H. Von sold 17,508 shares of the stock in a transaction that occurred on Wednesday, October 24th. The shares were sold at an average price of $50.81, for a total value of $889,581.48. Following the transaction, the insider now directly owns 121,137 shares in the company, valued at $6,154,970.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark G. Runkel sold 6,347 shares of the stock in a transaction that occurred on Monday, November 12th. The shares were sold at an average price of $53.20, for a total transaction of $337,660.40. The disclosure for this sale can be found here. Insiders have sold 237,549 shares of company stock worth $12,562,507 over the last quarter. 0.43% of the stock is owned by company insiders.

Several brokerages have weighed in on USB. Zacks Investment Research cut shares of U.S. Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, December 11th. ValuEngine cut shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, October 16th. Finally, Jefferies Financial Group cut shares of U.S. Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, January 8th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $58.91.

Shares of USB stock opened at $49.75 on Friday. U.S. Bancorp has a 1 year low of $43.14 and a 1 year high of $58.50. The company has a market cap of $77.52 billion, a PE ratio of 14.55, a P/E/G ratio of 1.47 and a beta of 1.02. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.91.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.01. U.S. Bancorp had a net margin of 27.53% and a return on equity of 15.14%. The company had revenue of $5.83 billion for the quarter, compared to analyst estimates of $5.73 billion. During the same period in the prior year, the business earned $0.88 earnings per share. U.S. Bancorp’s quarterly revenue was up 4.1% on a year-over-year basis. Research analysts predict that U.S. Bancorp will post 4.1 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 15th. Stockholders of record on Monday, December 31st were given a dividend of $0.37 per share. The ex-dividend date was Friday, December 28th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.97%. U.S. Bancorp’s payout ratio is 43.27%.

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U.S. Bancorp Company Profile

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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Want to see what other hedge funds are holding USB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for U.S. Bancorp (NYSE:USB).

Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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