Hendershot Investments Inc. Decreases Stock Position in U.S. Bancorp (NYSE:USB)

Hendershot Investments Inc. lowered its holdings in shares of U.S. Bancorp (NYSE:USB) by 12.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,816 shares of the financial services provider’s stock after selling 1,250 shares during the period. Hendershot Investments Inc.’s holdings in U.S. Bancorp were worth $350,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Kornitzer Capital Management Inc. KS lifted its stake in U.S. Bancorp by 1.3% in the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 56,990 shares of the financial services provider’s stock valued at $2,263,000 after buying an additional 742 shares in the last quarter. National Bank of Canada FI lifted its position in shares of U.S. Bancorp by 313.8% in the second quarter. National Bank of Canada FI now owns 2,698,642 shares of the financial services provider’s stock valued at $105,903,000 after acquiring an additional 2,046,522 shares in the last quarter. Chase Investment Counsel Corp boosted its stake in shares of U.S. Bancorp by 15.8% during the second quarter. Chase Investment Counsel Corp now owns 10,666 shares of the financial services provider’s stock valued at $423,000 after acquiring an additional 1,459 shares during the last quarter. Impact Partnership Wealth LLC increased its position in U.S. Bancorp by 10.7% during the 2nd quarter. Impact Partnership Wealth LLC now owns 35,829 shares of the financial services provider’s stock worth $1,422,000 after purchasing an additional 3,455 shares in the last quarter. Finally, TD Asset Management Inc raised its stake in U.S. Bancorp by 2.0% in the 2nd quarter. TD Asset Management Inc now owns 698,839 shares of the financial services provider’s stock valued at $27,744,000 after purchasing an additional 13,889 shares during the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Analysts Set New Price Targets

USB has been the subject of a number of recent research reports. StockNews.com upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, July 17th. JPMorgan Chase & Co. cut U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price target for the company. in a report on Thursday, June 27th. Wells Fargo & Company increased their price objective on shares of U.S. Bancorp from $48.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, July 18th. Jefferies Financial Group lowered their target price on shares of U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating for the company in a report on Wednesday, July 3rd. Finally, The Goldman Sachs Group increased their price target on shares of U.S. Bancorp from $42.00 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Thirteen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $48.23.

Insider Buying and Selling at U.S. Bancorp

In related news, Director Aleem Gillani purchased 10,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The stock was acquired at an average price of $44.99 per share, with a total value of $449,900.00. Following the completion of the transaction, the director now owns 10,000 shares of the company’s stock, valued at $449,900. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.23% of the stock is currently owned by corporate insiders.

U.S. Bancorp Trading Down 1.1 %

NYSE USB opened at $45.55 on Friday. The stock has a market cap of $71.07 billion, a P/E ratio of 15.08, a PEG ratio of 4.57 and a beta of 1.04. The company’s fifty day simple moving average is $43.31 and its 200-day simple moving average is $42.05. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.05. U.S. Bancorp has a 52 week low of $30.47 and a 52 week high of $47.31.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.04. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The company had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.81 billion. During the same period in the prior year, the company posted $1.12 EPS. The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. Equities research analysts predict that U.S. Bancorp will post 3.89 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were issued a dividend of $0.49 per share. The ex-dividend date was Friday, June 28th. This represents a $1.96 annualized dividend and a yield of 4.30%. U.S. Bancorp’s dividend payout ratio is presently 64.90%.

About U.S. Bancorp

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.