U.S. Bancorp $USB Stock Sold by Lockheed Martin Investment Management Co.

Lockheed Martin Investment Management Co. reduced its stake in U.S. Bancorp (NYSE:USB) by 31.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 62,100 shares of the financial services provider’s stock after selling 28,680 shares during the quarter. Lockheed Martin Investment Management Co.’s holdings in U.S. Bancorp were worth $3,587,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Dogwood Wealth Management LLC increased its stake in U.S. Bancorp by 32.9% in the 2nd quarter. Dogwood Wealth Management LLC now owns 687 shares of the financial services provider’s stock valued at $41,000 after buying an additional 170 shares during the period. Blalock Williams LLC lifted its stake in shares of U.S. Bancorp by 3.8% in the 2nd quarter. Blalock Williams LLC now owns 4,680 shares of the financial services provider’s stock worth $283,000 after acquiring an additional 171 shares during the period. Virtue Capital Management LLC boosted its holdings in shares of U.S. Bancorp by 2.4% in the third quarter. Virtue Capital Management LLC now owns 7,517 shares of the financial services provider’s stock valued at $434,000 after acquiring an additional 177 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in shares of U.S. Bancorp by 1.7% in the third quarter. International Assets Investment Management LLC now owns 11,093 shares of the financial services provider’s stock valued at $636,000 after acquiring an additional 181 shares in the last quarter. Finally, FAS Wealth Partners Inc. boosted its holdings in shares of U.S. Bancorp by 0.9% in the first quarter. FAS Wealth Partners Inc. now owns 19,964 shares of the financial services provider’s stock valued at $1,038,000 after acquiring an additional 186 shares in the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Robert W. Baird increased their price target on shares of U.S. Bancorp from $64.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, July 17th. Evercore reaffirmed an “outperform” rating and issued a $67.00 price objective (down from $72.00) on shares of U.S. Bancorp in a report on Wednesday, October 28th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of U.S. Bancorp in a report on Thursday, October 29th. HSBC boosted their target price on U.S. Bancorp from $74.00 to $76.00 and gave the stock a “buy” rating in a research report on Monday, September 28th. Finally, Keefe, Bruyette & Woods increased their target price on U.S. Bancorp from $63.00 to $66.00 and gave the stock a “market perform” rating in a research note on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $68.65.

U.S. Bancorp Stock Performance

NYSE:USB opened at $61.02 on Tuesday. The company has a market cap of $95.06 billion, a P/E ratio of 11.89, a P/E/G ratio of 1.16 and a beta of 1.02. The firm’s 50 day moving average is $59.62 and its two-hundred day moving average is $58.21. U.S. Bancorp has a fifty-two week low of $45.02 and a fifty-two week high of $66.07. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.87.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Thursday, October 15th. The financial services provider reported $1.34 EPS for the quarter, topping the consensus estimate of $1.32 by $0.02. U.S. Bancorp had a return on equity of 13.85% and a net margin of 18.85%. The company had revenue of $8.04 billion during the quarter, compared to analyst estimates of $8 billion. During the same period in the prior year, the firm posted $1.22 earnings per share. The firm’s revenue was up 8.7% on a year-over-year basis. Analysts expect that U.S. Bancorp will post 5.30 EPS for the current year.

U.S. Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.5%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.52. The ex-dividend date was Wednesday, September 30th. U.S. Bancorp’s payout ratio is 42.11%.

Insider Activity at U.S. Bancorp

In other news, CEO Gunjan Kedia sold 27,267 shares of the company’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $62.37, for a total value of $1,700,642.79. Following the completion of the transaction, the chief executive officer directly owned 426,262 shares in the company, valued at approximately $26,585,960.94. This represents a 6.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.21% of the company’s stock.

U.S. Bancorp Company Profile

U.S. Bancorp is the parent company of U.S. Bank, a financial services provider serving consumers, businesses, institutions and government entities across the United States. Its history traces to 1863, when one of its predecessor institutions, First National Bank of Cincinnati, was established.

U.S. Bank offers consumer and business banking, lending, payment services, wealth management, investment services and corporate trust services. Its products include checking and savings accounts, credit cards, mortgages, commercial loans and digital banking solutions.

Headquartered in Minneapolis, Minnesota, U.S.