River Road Asset Management LLC Lowers Holdings in U.S. Bancorp (USB)

River Road Asset Management LLC lessened its position in U.S. Bancorp (NYSE:USB) by 4.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,948,192 shares of the financial services provider’s stock after selling 87,218 shares during the period. U.S. Bancorp accounts for approximately 2.1% of River Road Asset Management LLC’s holdings, making the stock its biggest position. River Road Asset Management LLC’s holdings in U.S. Bancorp were worth $102,884,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in USB. Bank of Montreal Can acquired a new stake in shares of U.S. Bancorp in the 2nd quarter worth $131,487,000. Bank of New York Mellon Corp lifted its stake in shares of U.S. Bancorp by 15.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 15,867,860 shares of the financial services provider’s stock worth $793,710,000 after acquiring an additional 2,071,326 shares during the period. BTIM Corp. acquired a new stake in shares of U.S. Bancorp in the 2nd quarter worth $78,408,000. Chevy Chase Trust Holdings Inc. acquired a new stake in shares of U.S. Bancorp in the 2nd quarter worth $72,386,000. Finally, Cornerstone Wealth Management LLC lifted its stake in shares of U.S. Bancorp by 5,122.1% in the 2nd quarter. Cornerstone Wealth Management LLC now owns 1,133,620 shares of the financial services provider’s stock worth $22,487,000 after acquiring an additional 1,111,912 shares during the period. Institutional investors own 74.50% of the company’s stock.

Shares of NYSE USB opened at $52.07 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.91. U.S. Bancorp has a 52 week low of $48.49 and a 52 week high of $58.50. The stock has a market capitalization of $84.82 billion, a P/E ratio of 13.32, a P/E/G ratio of 1.70 and a beta of 0.91.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, October 17th. The financial services provider reported $1.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.04 by $0.02. U.S. Bancorp had a net margin of 27.53% and a return on equity of 15.14%. The firm had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.68 billion. During the same quarter last year, the business earned $0.88 earnings per share. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. As a group, research analysts anticipate that U.S. Bancorp will post 4.1 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 28th were paid a $0.37 dividend. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $1.48 annualized dividend and a dividend yield of 2.84%. U.S. Bancorp’s dividend payout ratio (DPR) is 43.27%.

In related news, Vice Chairman Gillern Jeffry H. Von sold 17,508 shares of the firm’s stock in a transaction dated Wednesday, October 24th. The shares were sold at an average price of $50.81, for a total value of $889,581.48. Following the completion of the sale, the insider now owns 121,137 shares in the company, valued at $6,154,970.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Terrance R. Dolan sold 15,524 shares of the firm’s stock in a transaction dated Thursday, October 18th. The shares were sold at an average price of $52.91, for a total transaction of $821,374.84. Following the completion of the sale, the insider now owns 124,086 shares of the company’s stock, valued at approximately $6,565,390.26. The disclosure for this sale can be found here. 0.43% of the stock is owned by company insiders.

USB has been the subject of several recent analyst reports. Wedbush restated a “neutral” rating on shares of U.S. Bancorp in a research note on Monday, July 23rd. ValuEngine upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, July 26th. Zacks Investment Research upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a research note on Tuesday, September 18th. Macquarie upgraded shares of U.S. Bancorp from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $56.00 to $62.00 in a research note on Wednesday, October 10th. Finally, UBS Group upgraded shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating in a research note on Thursday, October 18th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $59.36.

U.S. Bancorp Profile

U.S. Bancorp, a financial services holding company, provides various financial services in the United States. The company operates through five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.

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Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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