Intact Investment Management Inc. Trims Holdings in U.S. Bancorp (NYSE:USB)

Intact Investment Management Inc. trimmed its stake in U.S. Bancorp (NYSE:USB) by 67.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 69,300 shares of the financial services provider’s stock after selling 144,400 shares during the period. Intact Investment Management Inc.’s holdings in U.S. Bancorp were worth $2,999,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Fulton Breakefield Broenniman LLC purchased a new stake in shares of U.S. Bancorp in the 4th quarter valued at approximately $224,000. Spinnaker Trust purchased a new stake in U.S. Bancorp during the 4th quarter worth approximately $220,000. Kovack Advisors Inc. increased its stake in U.S. Bancorp by 6.9% during the 4th quarter. Kovack Advisors Inc. now owns 12,585 shares of the financial services provider’s stock worth $545,000 after buying an additional 815 shares during the period. AM Investment Strategies LLC increased its stake in U.S. Bancorp by 3.0% during the 4th quarter. AM Investment Strategies LLC now owns 117,286 shares of the financial services provider’s stock worth $5,076,000 after buying an additional 3,406 shares during the period. Finally, Sandhill Capital Partners LLC increased its stake in U.S. Bancorp by 13.2% during the 4th quarter. Sandhill Capital Partners LLC now owns 1,182,616 shares of the financial services provider’s stock worth $51,184,000 after buying an additional 137,729 shares during the period. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Stock Performance

NYSE:USB traded up $0.13 during trading hours on Friday, reaching $41.12. 4,512,229 shares of the company’s stock were exchanged, compared to its average volume of 7,300,433. The firm has a market capitalization of $64.07 billion, a price-to-earnings ratio of 13.62, a P/E/G ratio of 2.13 and a beta of 1.05. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 1.07. U.S. Bancorp has a 1-year low of $27.27 and a 1-year high of $45.85. The company has a 50-day moving average of $42.34 and a 200 day moving average of $40.16.

U.S. Bancorp (NYSE:USB) last announced 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. The company had revenue of $6.72 billion during the quarter, compared to the consensus estimate of $6.71 billion. U.S. Bancorp had a net margin of 12.13% and a return on equity of 13.93%. U.S. Bancorp’s quarterly revenue was down 6.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.16 EPS. Research analysts anticipate that U.S. Bancorp will post 3.86 EPS for the current year.

U.S. Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were paid a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 4.77%. The ex-dividend date of this dividend was Wednesday, March 27th. U.S. Bancorp’s dividend payout ratio (DPR) is 64.90%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on USB shares. Morgan Stanley upped their target price on shares of U.S. Bancorp from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 30th. DA Davidson dropped their price objective on shares of U.S. Bancorp from $45.00 to $44.00 and set a “neutral” rating on the stock in a research report on Thursday, April 18th. Wells Fargo & Company dropped their price objective on shares of U.S. Bancorp from $50.00 to $48.00 and set an “overweight” rating on the stock in a research report on Thursday, April 18th. Royal Bank of Canada increased their price objective on shares of U.S. Bancorp from $43.00 to $47.00 and gave the company an “outperform” rating in a research report on Thursday, January 18th. Finally, Compass Point raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their price objective for the company from $46.00 to $49.00 in a research report on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, U.S. Bancorp presently has a consensus rating of “Hold” and an average target price of $46.14.

Insider Activity at U.S. Bancorp

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

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.