River Road Asset Management LLC Has $111.34 Million Position in U.S. Bancorp (NYSE:USB)

River Road Asset Management LLC cut its stake in U.S. Bancorp (NYSE:USB) by 6.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,011,963 shares of the financial services provider’s stock after selling 129,476 shares during the period. U.S. Bancorp accounts for about 2.1% of River Road Asset Management LLC’s investment portfolio, making the stock its 5th biggest position. River Road Asset Management LLC owned approximately 0.13% of U.S. Bancorp worth $111,342,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Northern Trust Corp grew its position in shares of U.S. Bancorp by 0.8% during the 2nd quarter. Northern Trust Corp now owns 20,491,980 shares of the financial services provider’s stock worth $1,073,779,000 after buying an additional 171,826 shares during the period. Daily Journal Corp grew its holdings in U.S. Bancorp by 9,900.0% during the second quarter. Daily Journal Corp now owns 14,000,000 shares of the financial services provider’s stock valued at $7,336,000 after purchasing an additional 13,860,000 shares during the period. Janus Henderson Group PLC grew its holdings in U.S. Bancorp by 2.4% during the second quarter. Janus Henderson Group PLC now owns 13,382,530 shares of the financial services provider’s stock valued at $701,230,000 after purchasing an additional 310,818 shares during the period. Nuveen Asset Management LLC grew its holdings in U.S. Bancorp by 17,492.7% during the second quarter. Nuveen Asset Management LLC now owns 12,734,464 shares of the financial services provider’s stock valued at $667,286,000 after purchasing an additional 12,662,079 shares during the period. Finally, Fiera Capital Corp grew its holdings in U.S. Bancorp by 4.2% during the second quarter. Fiera Capital Corp now owns 9,521,304 shares of the financial services provider’s stock valued at $498,916,000 after purchasing an additional 387,833 shares during the period. 75.48% of the stock is owned by institutional investors.

USB traded down $0.16 during trading on Tuesday, reaching $58.48. The company had a trading volume of 210,245 shares, compared to its average volume of 5,344,342. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.83 and a quick ratio of 0.82. U.S. Bancorp has a 12 month low of $43.14 and a 12 month high of $59.71. The business’s fifty day moving average price is $55.69 and its 200 day moving average price is $53.71. The company has a market cap of $92.82 billion, a P/E ratio of 14.26, a PEG ratio of 2.27 and a beta of 1.11.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.15 earnings per share for the quarter, beating the Zacks’ consensus estimate 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 analyst estimates of $5.81 billion. During the same quarter in the previous year, the firm posted $1.06 earnings per share. The business’s revenue was up 3.9% on a year-over-year basis. As a group, sell-side analysts predict that U.S. Bancorp will post 4.33 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.42 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $1.68 dividend on an annualized basis and a yield of 2.87%. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.37. U.S. Bancorp’s payout ratio is presently 40.98%.

A number of research analysts recently issued reports on USB shares. Bank of America cut shares of U.S. Bancorp from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $55.00 to $53.00 in a report on Monday, September 30th. Citigroup cut shares of U.S. Bancorp from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $54.00 to $49.00 in a report on Tuesday, October 8th. Macquarie cut shares of U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $59.00 price objective for the company. in a report on Thursday, August 1st. Piper Jaffray Companies set a $59.00 price objective on shares of U.S. Bancorp and gave the company a “buy” rating in a report on Friday, September 13th. Finally, Credit Suisse Group restated a “hold” rating and set a $55.00 price objective on shares of U.S. Bancorp in a report on Thursday, September 12th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $56.67.

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

U.S. Bancorp 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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