U.S. Bancorp (USB) Stake Lessened by Pitcairn Co.

Pitcairn Co. cut its holdings in shares of U.S. Bancorp (NYSE:USB) by 13.4% during the fourth quarter, HoldingsChannel reports. The firm owned 13,190 shares of the financial services provider’s stock after selling 2,047 shares during the period. Pitcairn Co.’s holdings in U.S. Bancorp were worth $603,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Veritable L.P. grew its holdings in shares of U.S. Bancorp by 1.9% during the third quarter. Veritable L.P. now owns 130,364 shares of the financial services provider’s stock valued at $6,885,000 after buying an additional 2,418 shares during the last quarter. Legacy Financial Advisors Inc. grew its holdings in shares of U.S. Bancorp by 0.5% during the fourth quarter. Legacy Financial Advisors Inc. now owns 49,316 shares of the financial services provider’s stock valued at $2,254,000 after buying an additional 243 shares during the last quarter. Moody National Bank Trust Division grew its holdings in shares of U.S. Bancorp by 0.9% during the fourth quarter. Moody National Bank Trust Division now owns 283,151 shares of the financial services provider’s stock valued at $12,940,000 after buying an additional 2,653 shares during the last quarter. CI Investments Inc. grew its holdings in shares of U.S. Bancorp by 2.3% during the third quarter. CI Investments Inc. now owns 915,600 shares of the financial services provider’s stock valued at $48,353,000 after buying an additional 21,000 shares during the last quarter. Finally, Captrust Financial Advisors grew its holdings in shares of U.S. Bancorp by 33.8% during the third quarter. Captrust Financial Advisors now owns 78,458 shares of the financial services provider’s stock valued at $4,171,000 after buying an additional 19,817 shares during the last quarter. 74.18% of the stock is currently owned by institutional investors and hedge funds.

NYSE:USB opened at $51.71 on Friday. U.S. Bancorp has a one year low of $43.14 and a one year high of $55.56. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market capitalization of $81.69 billion, a price-to-earnings ratio of 12.61, a price-to-earnings-growth ratio of 1.68 and a beta of 1.08.



U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Wednesday, January 16th. The financial services provider reported $1.07 EPS for the quarter, beating the consensus estimate of $1.06 by $0.01. U.S. Bancorp had a net margin of 27.53% and a return on equity of 15.64%. The company had revenue of $5.83 billion for the quarter, compared to analyst estimates of $5.73 billion. During the same period in the prior year, the company earned $0.88 earnings per share. The firm’s revenue was up 4.1% on a year-over-year basis. Sell-side analysts anticipate that U.S. Bancorp will post 4.35 earnings per share for the current year.

In other U.S. Bancorp news, Vice Chairman Leslie V. Godridge sold 14,737 shares of the company’s stock in a transaction on Monday, February 4th. The shares were sold at an average price of $51.50, for a total value of $758,955.50. Following the sale, the insider now directly owns 61,737 shares of the company’s stock, valued at $3,179,455.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.24% of the stock is currently owned by corporate insiders.

A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research reissued a “hold” rating on shares of U.S. Bancorp in a report on Monday, December 31st. Barclays boosted their price objective on shares of U.S. Bancorp from $61.00 to $64.00 and gave the company an “overweight” rating in a report on Wednesday, January 2nd. Robert W. Baird lowered shares of U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $51.00 price objective on the stock. in a report on Monday, January 28th. Jefferies Financial Group lowered shares of U.S. Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, January 8th. Finally, Standpoint Research lowered shares of U.S. Bancorp from a “buy” rating to a “hold” rating and boosted their price objective for the company from $54.16 to $63.00 in a report on Monday, November 26th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $58.00.

ILLEGAL ACTIVITY WARNING: “U.S. Bancorp (USB) Stake Lessened by Pitcairn Co.” was originally posted by Dakota Financial News and is owned by of Dakota Financial News. If you are viewing this report on another publication, it was stolen and republished in violation of U.S. and international trademark & copyright laws. The correct version of this report can be read at https://dakotafinancialnews.com/2019/03/15/u-s-bancorp-usb-stake-lessened-by-pitcairn-co.html.

About U.S. Bancorp

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.

Further Reading: Certificate of Deposit (CD)

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).

Institutional Ownership by Quarter 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.