U.S. Bancorp $USB Position Trimmed by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its holdings in shares of U.S. Bancorp (NYSE:USB) by 0.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,931,287 shares of the financial services provider’s stock after selling 16,259 shares during the period. The Manufacturers Life Insurance Company’s holdings in U.S. Bancorp were worth $100,446,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Clayton Financial Group LLC bought a new stake in shares of U.S. Bancorp during the 4th quarter valued at about $25,000. Financial Life Planners acquired a new stake in U.S. Bancorp during the first quarter worth about $27,000. Main Street Group LTD bought a new position in U.S. Bancorp in the first quarter worth about $28,000. JPL Wealth Management LLC bought a new position in U.S. Bancorp in the third quarter worth about $28,000. Finally, Binnacle Investments Inc boosted its stake in U.S. Bancorp by 77.8% in the third quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 273 shares during the period. 77.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Oppenheimer upped their target price on U.S. Bancorp from $73.00 to $77.00 and gave the company an “outperform” rating in a report on Friday, July 17th. Weiss Ratings raised U.S. Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. DA Davidson boosted their price objective on U.S. Bancorp from $72.00 to $74.00 and gave the company a “buy” rating in a research report on Friday, July 17th. Stephens upped their price objective on U.S. Bancorp from $63.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Friday, July 17th. Finally, Evercore raised U.S. Bancorp from an “in-line” rating to an “outperform” rating and set a $72.00 target price on the stock in a research report on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $67.00.

U.S. Bancorp Price Performance

Shares of NYSE:USB opened at $64.45 on Wednesday. The firm’s 50 day moving average is $59.32 and its two-hundred day moving average is $56.55. U.S. Bancorp has a 52 week low of $43.46 and a 52 week high of $64.84. The firm has a market capitalization of $99.97 billion, a P/E ratio of 12.86, a PEG ratio of 1.04 and a beta of 0.96. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.96.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.07. The company had revenue of $7.71 billion for the quarter, compared to analysts’ expectations of $7.58 billion. U.S. Bancorp had a return on equity of 13.69% and a net margin of 18.49%.During the same quarter in the previous year, the company posted $1.11 earnings per share. Analysts anticipate that U.S. Bancorp will post 5.22 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.08 annualized dividend and a yield of 3.2%. U.S. Bancorp’s payout ratio is presently 41.52%.

Insider Buying and Selling at U.S. Bancorp

In other news, insider Stephen L. Philipson sold 36,906 shares of the stock in a transaction on Monday, July 20th. The stock was sold at an average price of $63.08, for a total value of $2,328,030.48. Following the completion of the transaction, the insider owned 74,969 shares of the company’s stock, valued at approximately $4,729,044.52. This represents a 32.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Venkatachari Dilip sold 34,522 shares of the firm’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total value of $1,916,661.44. Following the transaction, the executive vice president directly owned 51,292 shares in the company, valued at $2,847,731.84. This trade represents a 40.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is owned by insiders.

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.