Alaska Permanent Fund Corp Sells 2,196 Shares of U.S. Bancorp (NYSE:USB)

Alaska Permanent Fund Corp trimmed its position in U.S. Bancorp (NYSE:USB) by 3.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 68,804 shares of the financial services provider’s stock after selling 2,196 shares during the period. Alaska Permanent Fund Corp’s holdings in U.S. Bancorp were worth $2,978,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of USB. CGC Financial Services LLC bought a new stake in U.S. Bancorp during the fourth quarter worth about $25,000. BKM Wealth Management LLC bought a new stake in U.S. Bancorp during the fourth quarter worth about $26,000. Planned Solutions Inc. bought a new stake in U.S. Bancorp during the fourth quarter worth about $27,000. Legacy Financial Group LLC bought a new stake in U.S. Bancorp during the third quarter worth about $30,000. Finally, Naples Money Management LLC bought a new stake in U.S. Bancorp during the fourth quarter worth about $30,000. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Price Performance

U.S. Bancorp stock traded up $0.64 during mid-day trading on Wednesday, reaching $41.61. 6,548,602 shares of the company were exchanged, compared to its average volume of 8,786,699. The company has a fifty day simple moving average of $42.34 and a 200-day simple moving average of $40.03. U.S. Bancorp has a 12 month low of $27.27 and a 12 month high of $45.85. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.82 and a quick ratio of 0.81. The firm has a market cap of $64.83 billion, a PE ratio of 13.56, a PEG ratio of 2.13 and a beta of 1.05.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. U.S. Bancorp had a return on equity of 13.93% and a net margin of 12.13%. The firm had revenue of $6.72 billion for the quarter, compared to analyst estimates of $6.71 billion. During the same quarter last year, the company earned $1.16 EPS. The company’s revenue was down 6.4% on a year-over-year basis. As a group, equities research analysts expect that U.S. Bancorp will post 3.86 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were paid a $0.49 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.96 annualized dividend and a dividend yield of 4.71%. U.S. Bancorp’s payout ratio is 64.90%.

Insider Activity

In other news, insider Terrance R. Dolan sold 26,583 shares of U.S. Bancorp stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $43.37, for a total value of $1,152,904.71. Following the transaction, the insider now owns 144,236 shares in the company, valued at approximately $6,255,515.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Terrance R. Dolan sold 26,583 shares of the firm’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $43.37, for a total transaction of $1,152,904.71. Following the sale, the insider now owns 144,236 shares of the company’s stock, valued at approximately $6,255,515.32. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP James L. Chosy sold 21,582 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $41.47, for a total value of $895,005.54. Following the sale, the executive vice president now directly owns 164,880 shares in the company, valued at approximately $6,837,573.60. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on USB. HSBC upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and upped their target price for the stock from $47.00 to $53.00 in a report on Thursday, March 28th. Barclays dropped their price objective on U.S. Bancorp from $56.00 to $52.00 and set an “overweight” rating on the stock in a research note on Thursday, April 18th. Evercore ISI upped their price objective on U.S. Bancorp from $46.00 to $48.00 and gave the company an “in-line” rating in a research note on Thursday, March 28th. Royal Bank of Canada upped their price objective on U.S. Bancorp from $43.00 to $47.00 and gave the company an “outperform” rating in a research note on Thursday, January 18th. Finally, TheStreet upgraded U.S. Bancorp from a “c+” rating to a “b-” rating in a research note on Tuesday, December 26th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, U.S. Bancorp presently has a consensus rating of “Hold” and a consensus price target of $46.14.

About U.S. Bancorp

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.