Fifth Third Bancorp trimmed its holdings in U.S. Bancorp (NYSE:USB) by 3.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,773,515 shares of the financial services provider’s stock after selling 56,651 shares during the quarter. Fifth Third Bancorp’s holdings in U.S. Bancorp were worth $93,659,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Stelac Advisory Services LLC bought a new stake in U.S. Bancorp during the 3rd quarter worth about $103,000. Integrated Investment Consultants LLC bought a new stake in U.S. Bancorp during the 2nd quarter worth about $135,000. Field & Main Bank raised its holdings in U.S. Bancorp by 49.9% during the 2nd quarter. Field & Main Bank now owns 3,004 shares of the financial services provider’s stock worth $159,000 after purchasing an additional 1,000 shares during the last quarter. NEXT Financial Group Inc bought a new stake in U.S. Bancorp during the 3rd quarter worth about $181,000. Finally, Polaris Greystone Financial Group LLC bought a new stake in U.S. Bancorp during the 3rd quarter worth about $185,000. 75.24% of the stock is owned by institutional investors and hedge funds.
Shares of USB opened at $52.34 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.85 and a quick ratio of 0.84. U.S. Bancorp has a 52-week low of $48.49 and a 52-week high of $58.50. The company has a market capitalization of $85.01 billion, a P/E ratio of 15.30, a price-to-earnings-growth ratio of 1.71 and a beta of 0.90.
In related news, Chairman Andrew Cecere sold 183,374 shares of the business’s stock in a transaction that occurred on Thursday, November 8th. The stock was sold at an average price of $52.95, for a total value of $9,709,653.30. Following the completion of the transaction, the chairman now directly owns 892,517 shares in the company, valued at approximately $47,258,775.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David B. Omaley sold 10,902 shares of the business’s stock in a transaction that occurred on Wednesday, November 14th. The shares were sold at an average price of $53.66, for a total value of $585,001.32. Following the completion of the transaction, the director now owns 212,789 shares of the company’s stock, valued at $11,418,257.74. The disclosure for this sale can be found here. Insiders sold a total of 253,073 shares of company stock valued at $13,383,882 over the last quarter. 0.43% of the stock is owned by insiders.
Several brokerages have weighed in on USB. ValuEngine raised U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, August 22nd. Zacks Investment Research lowered U.S. Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, November 26th. Deutsche Bank lowered U.S. Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, November 26th. Citigroup lowered U.S. Bancorp from a “buy” rating to a “neutral” rating in a research report on Friday, November 2nd. Finally, Standpoint Research lowered U.S. Bancorp from a “buy” rating to a “hold” rating and boosted their target price for the stock from $54.16 to $63.00 in a research report on Monday, November 26th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $59.61.
About U.S. Bancorp
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.
Further Reading: Do You Need a Fiduciary?
Want to see what other hedge funds are holding USB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for U.S. Bancorp (NYSE:USB).
Receive News & Ratings for U.S. Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for U.S. Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.