Canandaigua National Bank & Trust Co. increased its holdings in shares of U.S. Bancorp (NYSE:USB) by 2.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,814 shares of the financial services provider’s stock after purchasing an additional 793 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in U.S. Bancorp were worth $1,649,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Simon Quick Advisors LLC lifted its stake in U.S. Bancorp by 1,060.0% in the fourth quarter. Simon Quick Advisors LLC now owns 464 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 424 shares during the last quarter. Lenox Wealth Advisors LLC acquired a new stake in U.S. Bancorp in the third quarter valued at $33,000. Bridger Capital Management LLC acquired a new stake in U.S. Bancorp in the third quarter valued at $33,000. Allred Capital Management LLC acquired a new stake in U.S. Bancorp in the fourth quarter valued at $33,000. Finally, Old North State Trust LLC lifted its stake in U.S. Bancorp by 99.1% in the third quarter. Old North State Trust LLC now owns 667 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 332 shares during the last quarter. Institutional investors and hedge funds own 75.23% of the company’s stock.
USB stock traded down $0.07 during mid-day trading on Friday, hitting $55.12. The stock had a trading volume of 386,842 shares, compared to its average volume of 6,572,425. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.86. U.S. Bancorp has a 52 week low of $47.57 and a 52 week high of $61.11. The firm has a market capitalization of $88.39 billion, a P/E ratio of 13.46, a P/E/G ratio of 2.13 and a beta of 1.11. The firm has a fifty day simple moving average of $59.06 and a 200 day simple moving average of $56.06.
The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.42 dividend. The ex-dividend date of this dividend was Monday, December 30th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.05%. U.S. Bancorp’s payout ratio is currently 40.98%.
In related news, CFO Terrance R. Dolan sold 17,200 shares of U.S. Bancorp stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $58.59, for a total transaction of $1,007,748.00. Following the sale, the chief financial officer now directly owns 111,404 shares in the company, valued at approximately $6,527,160.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Andrew Cecere sold 165,564 shares of U.S. Bancorp stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $58.81, for a total transaction of $9,736,818.84. Following the sale, the chief executive officer now owns 900,118 shares in the company, valued at $52,935,939.58. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 229,161 shares of company stock worth $13,483,396. 0.24% of the stock is currently owned by corporate insiders.
A number of brokerages have commented on USB. UBS Group cut their price target on shares of U.S. Bancorp from $60.00 to $57.00 and set a “neutral” rating for the company in a research note on Friday. Odeon Capital Group initiated coverage on shares of U.S. Bancorp in a research report on Thursday, December 5th. They issued a “hold” rating on the stock. JPMorgan Chase & Co. lowered shares of U.S. Bancorp from a “neutral” rating to an “underweight” rating and dropped their price objective for the company from $58.00 to $55.50 in a research report on Thursday. Bank of America lowered shares of U.S. Bancorp from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $55.00 to $53.00 in a research report on Monday, September 30th. Finally, Wedbush dropped their price objective on shares of U.S. Bancorp from $56.00 to $55.00 and set a “neutral” rating on the stock in a research report on Thursday. Six analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company. U.S. Bancorp has a consensus rating of “Hold” and a consensus target price of $58.66.
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.
See Also: Cost of Goods Sold (COGS)
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