Stewart & Patten Co. LLC Sells 1,415 Shares of U.S. Bancorp (NYSE:USB)

Stewart & Patten Co. LLC trimmed its holdings in shares of U.S. Bancorp (NYSE:USB) by 21.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,050 shares of the financial services provider’s stock after selling 1,415 shares during the period. Stewart & Patten Co. LLC’s holdings in U.S. Bancorp were worth $226,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of U.S. Bancorp by 5.0% during the 3rd quarter. Vanguard Group Inc. now owns 136,513,206 shares of the financial services provider’s stock worth $4,513,127,000 after buying an additional 6,479,642 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of U.S. Bancorp by 8.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 33,719,110 shares of the financial services provider’s stock worth $1,459,363,000 after buying an additional 2,598,163 shares in the last quarter. Norges Bank bought a new position in shares of U.S. Bancorp in the 4th quarter worth $827,370,000. Morgan Stanley lifted its holdings in shares of U.S. Bancorp by 4.3% in the 3rd quarter. Morgan Stanley now owns 18,129,558 shares of the financial services provider’s stock worth $599,363,000 after purchasing an additional 751,865 shares in the last quarter. Finally, Van ECK Associates Corp lifted its holdings in shares of U.S. Bancorp by 3.0% in the 4th quarter. Van ECK Associates Corp now owns 8,941,642 shares of the financial services provider’s stock worth $386,994,000 after purchasing an additional 264,264 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors.

U.S. Bancorp Stock Performance

USB traded down $0.46 during trading hours on Monday, hitting $39.24. The stock had a trading volume of 7,988,447 shares, compared to its average volume of 8,405,683. The company’s fifty day simple moving average is $40.35 and its 200 day simple moving average is $41.70. U.S. Bancorp has a 1 year low of $30.47 and a 1 year high of $45.85. The stock has a market cap of $61.23 billion, a PE ratio of 12.98, a price-to-earnings-growth ratio of 3.82 and a beta of 1.04. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 1.07.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.01. U.S. Bancorp had a return on equity of 13.93% and a net margin of 12.13%. The company had revenue of $6.72 billion during the quarter, compared to analyst estimates of $6.71 billion. During the same quarter last year, the firm posted $1.16 EPS. The firm’s revenue for the quarter was down 6.4% on a year-over-year basis. Equities analysts anticipate that U.S. Bancorp will post 3.84 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a $0.49 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.96 annualized dividend and a yield of 4.99%. U.S. Bancorp’s dividend payout ratio is currently 64.90%.

Analyst Ratings Changes

A number of brokerages recently issued reports on USB. DA Davidson cut their target price on U.S. Bancorp from $45.00 to $44.00 and set a “neutral” rating on the stock in a report on Thursday, April 18th. Evercore ISI increased their target price on U.S. Bancorp from $45.00 to $48.00 and gave the stock an “in-line” rating in a report on Tuesday, June 25th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $45.00 target price (down from $52.00) on shares of U.S. Bancorp in a report on Thursday, April 18th. Barclays lowered their price target on U.S. Bancorp from $56.00 to $52.00 and set an “overweight” rating for the company in a research report on Thursday, April 18th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $47.00 price target on shares of U.S. Bancorp in a research report on Thursday, May 16th. Sixteen research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $46.02.

U.S. Bancorp Company Profile

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.