First Business Financial Services Inc. Reduces Position in U.S. Bancorp (NYSE:USB)

First Business Financial Services Inc. lessened its holdings in shares of U.S. Bancorp (NYSE:USB) by 7.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,243 shares of the financial services provider’s stock after selling 350 shares during the quarter. First Business Financial Services Inc.’s holdings in U.S. Bancorp were worth $235,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Manchester Financial Inc. purchased a new position in shares of U.S. Bancorp during the 2nd quarter valued at $30,000. Lenox Wealth Advisors LLC purchased a new stake in U.S. Bancorp in the 3rd quarter worth $33,000. Bridger Capital Management LLC purchased a new stake in U.S. Bancorp in the 3rd quarter worth $33,000. Hillsdale Investment Management Inc. purchased a new stake in U.S. Bancorp in the 2nd quarter worth $37,000. Finally, Prime Capital Investment Advisors LLC lifted its stake in U.S. Bancorp by 174.0% in the 2nd quarter. Prime Capital Investment Advisors LLC now owns 707 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 449 shares in the last quarter. Institutional investors and hedge funds own 75.50% of the company’s stock.

In related news, Director David B. Omaley sold 10,133 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $55.76, for a total transaction of $565,016.08. Following the transaction, the director now directly owns 191,754 shares in the company, valued at approximately $10,692,203.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gillern Jeffry H. Von sold 5,357 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $56.67, for a total transaction of $303,581.19. Following the transaction, the insider now owns 89,301 shares in the company, valued at $5,060,687.67. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

Several analysts have commented on USB shares. Macquarie cut shares of U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $59.00 price target on the stock. in a research note on Thursday, August 1st. Bank of America cut shares of U.S. Bancorp from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $55.00 to $53.00 in a research note on Monday, September 30th. Wedbush boosted their price target on shares of U.S. Bancorp from $46.00 to $49.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. JPMorgan Chase & Co. boosted their price target on shares of U.S. Bancorp from $55.50 to $58.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Finally, Citigroup cut shares of U.S. Bancorp from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $54.00 to $49.00 in a research note on Tuesday, October 8th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the stock. U.S. Bancorp presently has a consensus rating of “Hold” and an average target price of $56.67.

Shares of U.S. Bancorp stock traded down $0.20 during trading hours on Friday, reaching $58.90. The company’s stock had a trading volume of 3,152,308 shares, compared to its average volume of 5,770,772. The firm has a 50 day moving average price of $55.56 and a 200-day moving average price of $53.63. U.S. Bancorp has a one year low of $43.14 and a one year high of $59.71. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.83 and a quick ratio of 0.82. The stock has a market cap of $92.33 billion, a P/E ratio of 14.37, a P/E/G ratio of 2.25 and a beta of 1.11.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.04. U.S. Bancorp had a net margin of 26.54% and a return on equity of 15.39%. The firm had revenue of $5.92 billion for the quarter, compared to the consensus estimate of $5.81 billion. During the same period in the previous year, the firm posted $1.06 EPS. The business’s quarterly revenue was up 3.9% on a year-over-year basis. As a group, sell-side analysts forecast that U.S. Bancorp will post 4.33 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $0.42 dividend. The ex-dividend date was Friday, September 27th. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.37. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.85%. U.S. Bancorp’s payout ratio is 40.98%.

U.S. Bancorp Company Profile

U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in 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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Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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