U.S. Bancorp (NYSE:USB) Shares Sold by Korea Investment CORP

Korea Investment CORP cut its holdings in shares of U.S. Bancorp (NYSE:USB) by 8.9% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 582,000 shares of the financial services provider’s stock after selling 57,100 shares during the period. Korea Investment CORP’s holdings in U.S. Bancorp were worth $33,157,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of USB. Eagle Bay Advisors LLC acquired a new position in shares of U.S. Bancorp during the second quarter worth approximately $27,000. Wolverine Asset Management LLC acquired a new position in shares of U.S. Bancorp during the first quarter worth approximately $34,000. Prestige Wealth Management Group LLC boosted its position in shares of U.S. Bancorp by 42.7% during the first quarter. Prestige Wealth Management Group LLC now owns 668 shares of the financial services provider’s stock worth $37,000 after buying an additional 200 shares during the period. tru Independence LLC acquired a new position in shares of U.S. Bancorp during the second quarter worth approximately $42,000. Finally, Mark Sheptoff Financial Planning LLC boosted its position in shares of U.S. Bancorp by 166.7% during the first quarter. Mark Sheptoff Financial Planning LLC now owns 800 shares of the financial services provider’s stock worth $44,000 after buying an additional 500 shares during the period. Institutional investors and hedge funds own 73.80% of the company’s stock.

USB stock opened at $59.79 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.76 and a quick ratio of 0.74. U.S. Bancorp has a 52-week low of $34.21 and a 52-week high of $62.47. The company has a 50-day moving average of $56.65 and a two-hundred day moving average of $57.34. The stock has a market capitalization of $88.65 billion, a price-to-earnings ratio of 12.80, a price-to-earnings-growth ratio of 1.71 and a beta of 1.14.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, July 14th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.14 by $0.14. U.S. Bancorp had a net margin of 29.83% and a return on equity of 15.18%. The company had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.62 billion. During the same period in the prior year, the company earned $0.41 earnings per share. The business’s quarterly revenue was up .2% compared to the same quarter last year. Equities analysts expect that U.S. Bancorp will post 5 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 15th. Shareholders of record on Thursday, September 30th will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 3.08%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.42. The ex-dividend date is Wednesday, September 29th. U.S. Bancorp’s dividend payout ratio is 54.90%.

A number of equities research analysts have weighed in on the company. Jefferies Financial Group assumed coverage on U.S. Bancorp in a research report on Thursday. They issued a “buy” rating and a $66.00 target price for the company. Credit Suisse Group upped their price target on U.S. Bancorp from $60.00 to $61.00 and gave the company a “neutral” rating in a report on Wednesday. Odeon Capital Group cut U.S. Bancorp from a “buy” rating to a “hold” rating in a report on Monday, July 19th. Barclays boosted their target price on shares of U.S. Bancorp from $65.00 to $68.00 and gave the company an “overweight” rating in a research note on Friday, July 16th. Finally, Citigroup boosted their target price on shares of U.S. Bancorp from $66.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, U.S. Bancorp currently has a consensus rating of “Buy” and a consensus target price of $62.77.

About U.S. Bancorp

U.S. Bancorp operates as a bank holding company, which offers financial services including lending and depository services, cash management, foreign exchange and trust and investment management. The firm also offers mortgage, refinance, auto, boat and RV loans, credit lines, credit card services, merchant, bank, checking and savings accounts, debit cards, online and mobile banking, ATM processing, mortgage banking, insurance, brokerage and leasing services.

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

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