U.S. Bancorp $USB Shares Sold by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp trimmed its position in U.S. Bancorp (NYSE:USB) by 6.8% during the 4th quarter, Holdings Channel.com reports. The fund owned 245,178 shares of the financial services provider’s stock after selling 18,029 shares during the period. Peapack Gladstone Financial Corp’s holdings in U.S. Bancorp were worth $13,083,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in USB. Citigroup Inc. boosted its holdings in U.S. Bancorp by 2.4% in the third quarter. Citigroup Inc. now owns 1,749,812 shares of the financial services provider’s stock valued at $84,568,000 after purchasing an additional 41,803 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in U.S. Bancorp by 15.3% in the third quarter. Jones Financial Companies Lllp now owns 358,972 shares of the financial services provider’s stock valued at $17,738,000 after purchasing an additional 47,537 shares during the last quarter. Danske Bank A S purchased a new stake in U.S. Bancorp in the third quarter valued at $37,162,000. Nordea Investment Management AB boosted its holdings in U.S. Bancorp by 15.3% in the fourth quarter. Nordea Investment Management AB now owns 2,690,174 shares of the financial services provider’s stock valued at $144,462,000 after purchasing an additional 357,300 shares during the last quarter. Finally, Roman Butler Fullerton & Co. purchased a new stake in U.S. Bancorp in the third quarter valued at $893,000. 77.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Jodi L. Richard sold 40,000 shares of the company’s stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the completion of the transaction, the insider owned 207,251 shares in the company, valued at $11,813,307. This represents a 16.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Venkatachari Dilip sold 34,522 shares of the company’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the transaction, the executive vice president owned 51,292 shares of the company’s stock, valued at approximately $2,847,731.84. This trade represents a 40.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.21% of the company’s stock.

U.S. Bancorp Trading Down 2.4%

USB stock opened at $53.54 on Tuesday. The company’s 50-day simple moving average is $54.47 and its 200-day simple moving average is $54.01. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.03. U.S. Bancorp has a 52-week low of $42.55 and a 52-week high of $61.19. The firm has a market cap of $83.11 billion, a P/E ratio of 11.22, a PEG ratio of 0.99 and a beta of 0.97.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.04. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. The business had revenue of $7.32 billion for the quarter, compared to analyst estimates of $7.27 billion. During the same period in the prior year, the company posted $1.03 EPS. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, equities analysts forecast that U.S. Bancorp will post 5.09 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend was Tuesday, March 31st. U.S. Bancorp’s dividend payout ratio is presently 43.61%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Oppenheimer upped their price target on shares of U.S. Bancorp from $73.00 to $74.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. Royal Bank Of Canada upped their price target on shares of U.S. Bancorp from $59.00 to $61.00 and gave the company an “outperform” rating in a report on Friday, April 17th. Barclays upped their price target on shares of U.S. Bancorp from $65.00 to $67.00 and gave the company an “overweight” rating in a report on Friday, April 17th. Evercore upped their price target on shares of U.S. Bancorp from $60.00 to $65.00 and gave the company an “in-line” rating in a report on Thursday, February 5th. Finally, Morgan Stanley set a $64.00 price target on shares of U.S. Bancorp in a report on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.20.

About U.S. Bancorp

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.