Edgestream Partners L.P. Sells 156,129 Shares of U.S. Bancorp (NYSE:USB)

Edgestream Partners L.P. trimmed its position in U.S. Bancorp (NYSE:USB) by 83.0% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 31,953 shares of the financial services provider’s stock after selling 156,129 shares during the period. Edgestream Partners L.P.’s holdings in U.S. Bancorp were worth $1,820,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Smith Asset Management Group LP boosted its position in U.S. Bancorp by 16.0% in the 1st quarter. Smith Asset Management Group LP now owns 1,187 shares of the financial services provider’s stock valued at $66,000 after buying an additional 164 shares during the last quarter. RMB Capital Management LLC boosted its position in shares of U.S. Bancorp by 0.5% in the 1st quarter. RMB Capital Management LLC now owns 35,830 shares of the financial services provider’s stock worth $1,982,000 after purchasing an additional 170 shares during the last quarter. Formidable Asset Management LLC boosted its position in shares of U.S. Bancorp by 0.6% in the 1st quarter. Formidable Asset Management LLC now owns 29,326 shares of the financial services provider’s stock worth $1,638,000 after purchasing an additional 170 shares during the last quarter. Eudaimonia Partners LLC boosted its position in shares of U.S. Bancorp by 5.0% in the 1st quarter. Eudaimonia Partners LLC now owns 3,771 shares of the financial services provider’s stock worth $209,000 after purchasing an additional 181 shares during the last quarter. Finally, Moody Lynn & Lieberson LLC boosted its position in shares of U.S. Bancorp by 1.3% in the 2nd quarter. Moody Lynn & Lieberson LLC now owns 15,516 shares of the financial services provider’s stock worth $884,000 after purchasing an additional 194 shares during the last quarter. Hedge funds and other institutional investors own 73.80% of the company’s stock.

USB opened at $55.91 on Wednesday. The business’s 50-day moving average price is $56.53 and its two-hundred day moving average price is $57.08. U.S. Bancorp has a 1 year low of $34.17 and a 1 year high of $62.47. The company has a market capitalization of $82.89 billion, a price-to-earnings ratio of 11.97, a P/E/G ratio of 1.71 and a beta of 1.14. 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 (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 Thomson Reuters’ consensus estimate of $1.14 by $0.14. U.S. Bancorp had a return on equity of 15.18% and a net margin of 29.83%. The firm had revenue of $5.78 billion for the quarter, compared to the consensus estimate of $5.62 billion. During the same quarter last year, the business posted $0.41 EPS. The company’s revenue for the quarter was up .2% on a year-over-year basis. Sell-side analysts anticipate that U.S. Bancorp will post 5 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 15th. Investors of record on Thursday, September 30th will be given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.29%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.42. U.S. Bancorp’s payout ratio is currently 54.90%.

Several research analysts have recently issued reports on the company. Credit Suisse Group raised their price target on U.S. Bancorp from $58.00 to $60.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 25th. Odeon Capital Group downgraded U.S. Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, July 19th. Morgan Stanley raised their price objective on U.S. Bancorp from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 29th. Oppenheimer raised their price objective on U.S. Bancorp from $70.00 to $73.00 and gave the stock an “outperform” rating in a research note on Friday, July 16th. Finally, Compass Point raised their price objective on U.S. Bancorp from $59.00 to $61.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 18th. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $62.37.

U.S. Bancorp Profile

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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