Carnegie Capital Asset Management LLC Grows Holdings in U.S. Bancorp (NYSE:USB)

Carnegie Capital Asset Management LLC increased its position in U.S. Bancorp (NYSE:USB) by 7.4% in the 4th quarter, HoldingsChannel reports. The fund owned 171,683 shares of the financial services provider’s stock after buying an additional 11,864 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in U.S. Bancorp were worth $7,430,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Scotia Capital Inc. grew its holdings in U.S. Bancorp by 2.9% during the 3rd quarter. Scotia Capital Inc. now owns 35,012 shares of the financial services provider’s stock valued at $1,158,000 after buying an additional 990 shares in the last quarter. National Bank of Canada FI boosted its position in shares of U.S. Bancorp by 292.1% during the 3rd quarter. National Bank of Canada FI now owns 1,386,413 shares of the financial services provider’s stock valued at $44,555,000 after acquiring an additional 1,032,866 shares during the last quarter. Tealwood Asset Management Inc. boosted its position in shares of U.S. Bancorp by 33.4% during the 4th quarter. Tealwood Asset Management Inc. now owns 62,539 shares of the financial services provider’s stock valued at $2,707,000 after acquiring an additional 15,665 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of U.S. Bancorp by 19.4% during the 3rd quarter. Van ECK Associates Corp now owns 8,677,378 shares of the financial services provider’s stock valued at $286,874,000 after acquiring an additional 1,410,324 shares during the last quarter. Finally, SG Americas Securities LLC boosted its position in shares of U.S. Bancorp by 104.3% during the 4th quarter. SG Americas Securities LLC now owns 105,090 shares of the financial services provider’s stock valued at $4,548,000 after acquiring an additional 53,653 shares during the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

USB has been the subject of a number of analyst reports. The Goldman Sachs Group raised their price target on U.S. Bancorp from $37.00 to $42.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 19th. HSBC upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and raised their price target for the company from $47.00 to $53.00 in a research note on Thursday, March 28th. Keefe, Bruyette & Woods lifted their target price on U.S. Bancorp from $50.00 to $52.00 and gave the company an “outperform” rating in a research note on Friday, April 5th. Barclays raised their price target on U.S. Bancorp from $48.00 to $56.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Finally, Royal Bank of Canada boosted their price target on U.S. Bancorp from $43.00 to $47.00 and gave the company an “outperform” rating in a report on Thursday, January 18th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $47.41.

Insiders Place Their Bets

In other U.S. Bancorp news, insider Terrance R. Dolan sold 26,583 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 144,236 shares of the company’s stock, valued at approximately $6,255,515.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Terrance R. Dolan sold 26,583 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 144,236 shares of the company’s stock, valued at approximately $6,255,515.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Timothy A. Welsh sold 12,100 shares of the firm’s stock in a transaction that occurred on Thursday, January 18th. The shares were sold at an average price of $40.33, for a total value of $487,993.00. Following the completion of the sale, the insider now directly owns 106,958 shares of the company’s stock, valued at $4,313,616.14. The disclosure for this sale can be found here. In the last ninety days, insiders sold 60,265 shares of company stock valued at $2,535,903. 0.23% of the stock is owned by company insiders.

U.S. Bancorp Price Performance

USB opened at $41.97 on Monday. The stock’s 50-day moving average price is $42.29 and its 200 day moving average price is $39.61. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.05. U.S. Bancorp has a 12-month low of $27.27 and a 12-month high of $45.85. The firm has a market cap of $65.39 billion, a price-to-earnings ratio of 12.68, a PEG ratio of 2.15 and a beta of 1.05.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.28. The business had revenue of $6.76 billion for the quarter, compared to the consensus estimate of $6.85 billion. U.S. Bancorp had a return on equity of 14.89% and a net margin of 13.36%. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.20 EPS. As a group, sell-side analysts expect that U.S. Bancorp will post 3.87 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 29th will be given a dividend of $0.49 per share. The ex-dividend date is Wednesday, March 27th. This represents a $1.96 dividend on an annualized basis and a yield of 4.67%. U.S. Bancorp’s payout ratio is 59.76%.

U.S. Bancorp Company Profile

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.