Amundi Pioneer Asset Management Inc. trimmed its stake in U.S. Bancorp (NYSE:USB) by 11.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,174,831 shares of the financial services provider’s stock after selling 147,812 shares during the quarter. Amundi Pioneer Asset Management Inc. owned approximately 0.07% of U.S. Bancorp worth $56,615,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Advisors Asset Management Inc. boosted its holdings in U.S. Bancorp by 5.7% in the fourth quarter. Advisors Asset Management Inc. now owns 96,212 shares of the financial services provider’s stock valued at $4,397,000 after purchasing an additional 5,168 shares in the last quarter. Buckingham Capital Management Inc. boosted its holdings in U.S. Bancorp by 1.8% in the fourth quarter. Buckingham Capital Management Inc. now owns 54,504 shares of the financial services provider’s stock valued at $2,491,000 after purchasing an additional 980 shares in the last quarter. Lindbrook Capital LLC acquired a new position in U.S. Bancorp in the fourth quarter valued at approximately $95,000. Acadian Asset Management LLC boosted its holdings in U.S. Bancorp by 19,130.6% in the fourth quarter. Acadian Asset Management LLC now owns 749,225 shares of the financial services provider’s stock valued at $34,238,000 after purchasing an additional 745,329 shares in the last quarter. Finally, Level Four Advisory Services LLC boosted its holdings in U.S. Bancorp by 33.8% in the fourth quarter. Level Four Advisory Services LLC now owns 8,100 shares of the financial services provider’s stock valued at $370,000 after purchasing an additional 2,046 shares in the last quarter. Institutional investors and hedge funds own 74.63% of the company’s stock.
Shares of U.S. Bancorp stock traded down $0.19 during trading hours on Friday, hitting $55.00. 7,234,724 shares of the company were exchanged, compared to its average volume of 4,910,108. U.S. Bancorp has a 1 year low of $43.14 and a 1 year high of $55.56. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.86. The firm has a 50-day simple moving average of $52.69. The firm has a market capitalization of $87.87 billion, a PE ratio of 13.08, a price-to-earnings-growth ratio of 1.85 and a beta of 1.06.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 2.69%. The ex-dividend date was Thursday, June 27th. U.S. Bancorp’s payout ratio is 36.10%.
U.S. Bancorp announced that its board has authorized a stock buyback plan on Thursday, June 27th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 3.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.
A number of equities analysts recently issued reports on USB shares. Zacks Investment Research raised GreenTree Hospitality Group from a “sell” rating to a “hold” rating in a report on Monday, April 15th. Wedbush started coverage on Millendo Therapeutics in a report on Thursday. They issued an “outperform” rating and a $24.00 price target for the company. Bank of America upped their price target on Micron Technology from $45.00 to $60.00 and gave the company an “average” rating in a report on Thursday. Oppenheimer set a $15.00 price objective on Strongbridge Biopharma and gave the company a “buy” rating in a research note on Tuesday, March 26th. Finally, JPMorgan Chase & Co. initiated coverage on Pinduoduo in a research note on Tuesday, July 9th. They issued an “underweight” rating and a $20.48 price objective for the company. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company’s stock. U.S. Bancorp currently has an average rating of “Hold” and a consensus target price of $56.63.
In other U.S. Bancorp news, Vice Chairman Gillern Jeffry H. Von sold 4,669 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $53.14, for a total value of $248,110.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Leslie V. Godridge sold 12,564 shares of the stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $51.53, for a total value of $647,422.92. Following the completion of the transaction, the insider now owns 39,330 shares of the company’s stock, valued at approximately $2,026,674.90. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.
U.S. Bancorp Company Profile
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in 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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