KCM Investment Advisors LLC Sells 4,975 Shares of U.S. Bancorp $USB

KCM Investment Advisors LLC cut its holdings in U.S. Bancorp (NYSE:USB) by 19.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,085 shares of the financial services provider’s stock after selling 4,975 shares during the quarter. KCM Investment Advisors LLC’s holdings in U.S. Bancorp were worth $909,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of USB. Nuveen LLC acquired a new stake in shares of U.S. Bancorp in the 1st quarter valued at $138,183,000. Vanguard Group Inc. raised its holdings in U.S. Bancorp by 1.7% during the first quarter. Vanguard Group Inc. now owns 141,230,279 shares of the financial services provider’s stock valued at $5,962,742,000 after buying an additional 2,393,383 shares in the last quarter. American Century Companies Inc. lifted its position in shares of U.S. Bancorp by 17.4% in the first quarter. American Century Companies Inc. now owns 10,070,174 shares of the financial services provider’s stock worth $425,163,000 after buying an additional 1,493,318 shares during the last quarter. Nordea Investment Management AB lifted its position in shares of U.S. Bancorp by 192.0% in the second quarter. Nordea Investment Management AB now owns 1,994,993 shares of the financial services provider’s stock worth $90,752,000 after buying an additional 1,311,746 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of U.S. Bancorp by 10.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 11,012,635 shares of the financial services provider’s stock worth $464,953,000 after acquiring an additional 1,045,509 shares in the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Stock Up 1.0%

USB opened at $47.32 on Friday. The business has a 50 day moving average of $47.95 and a 200-day moving average of $45.84. The stock has a market capitalization of $73.64 billion, a price-to-earnings ratio of 10.83, a P/E/G ratio of 1.25 and a beta of 1.10. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.10. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $53.98.

U.S. Bancorp (NYSE:USB) last released its earnings results on Thursday, October 16th. The financial services provider reported $1.22 EPS for the quarter, beating the consensus estimate of $1.11 by $0.11. U.S. Bancorp had a net margin of 16.89% and a return on equity of 13.34%. The firm had revenue of $7.34 billion during the quarter, compared to analysts’ expectations of $7.17 billion. During the same period in the prior year, the company earned $1.03 EPS. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were paid a $0.52 dividend. The ex-dividend date was Tuesday, September 30th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a dividend yield of 4.4%. U.S. Bancorp’s dividend payout ratio is 47.60%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Cowen reissued a “buy” rating on shares of U.S. Bancorp in a research note on Monday, October 20th. Deutsche Bank Aktiengesellschaft upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and set a $52.50 price target on the stock in a report on Thursday, October 23rd. Evercore ISI boosted their price objective on shares of U.S. Bancorp from $49.00 to $54.00 and gave the stock an “in-line” rating in a research note on Tuesday, September 30th. Oppenheimer decreased their price objective on shares of U.S. Bancorp from $67.00 to $66.00 and set an “outperform” rating for the company in a report on Tuesday, September 23rd. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of U.S. Bancorp in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $54.55.

Insider Transactions at U.S. Bancorp

In related news, Chairman Andrew Cecere sold 140,445 shares of the business’s stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $46.34, for a total transaction of $6,508,221.30. Following the transaction, the chairman directly owned 1,360,414 shares in the company, valued at $63,041,584.76. The trade was a 9.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP James L. Chosy sold 26,909 shares of the company’s stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $46.86, for a total value of $1,260,955.74. Following the completion of the transaction, the executive vice president directly owned 226,375 shares of the company’s stock, valued at approximately $10,607,932.50. This trade represents a 10.62% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.23% of the stock is owned by company insiders.

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.