Dynamic Technology Lab Private Ltd Sells 35,795 Shares of U.S. Bancorp (NYSE:USB)

Dynamic Technology Lab Private Ltd cut its holdings in shares of U.S. Bancorp (NYSE:USB) by 65.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,908 shares of the financial services provider’s stock after selling 35,795 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in U.S. Bancorp were worth $904,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in U.S. Bancorp by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 138,836,896 shares of the financial services provider’s stock worth $6,640,569,000 after acquiring an additional 1,079,056 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of U.S. Bancorp by 5.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 49,789,725 shares of the financial services provider’s stock worth $2,381,443,000 after purchasing an additional 2,460,845 shares during the period. Geode Capital Management LLC lifted its stake in U.S. Bancorp by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 33,937,360 shares of the financial services provider’s stock valued at $1,618,948,000 after purchasing an additional 850,763 shares during the last quarter. Amundi grew its holdings in U.S. Bancorp by 7.4% during the fourth quarter. Amundi now owns 19,485,615 shares of the financial services provider’s stock valued at $945,268,000 after purchasing an additional 1,341,407 shares during the period. Finally, Norges Bank purchased a new stake in U.S. Bancorp in the fourth quarter worth $777,524,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Compass Point increased their price target on U.S. Bancorp from $49.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Wells Fargo & Company reduced their target price on shares of U.S. Bancorp from $62.00 to $56.00 and set an “overweight” rating for the company in a research note on Friday, March 28th. Raymond James upgraded shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price target on the stock in a research note on Thursday, December 19th. Bank of America reduced their price objective on shares of U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating for the company in a research note on Monday, March 17th. Finally, The Goldman Sachs Group dropped their target price on U.S. Bancorp from $51.00 to $45.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 19th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $52.89.

Insiders Place Their Bets

In other news, insider Terrance R. Dolan sold 66,317 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $46.96, for a total value of $3,114,246.32. Following the completion of the sale, the insider now owns 209,482 shares of the company’s stock, valued at approximately $9,837,274.72. This represents a 24.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Andrew Cecere sold 102,044 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $47.25, for a total transaction of $4,821,579.00. Following the transaction, the chief executive officer now directly owns 1,230,316 shares in the company, valued at approximately $58,132,431. This represents a 7.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 219,812 shares of company stock valued at $10,385,665 over the last quarter. 0.23% of the stock is owned by corporate insiders.

U.S. Bancorp Price Performance

Shares of NYSE:USB opened at $36.78 on Monday. The company’s fifty day moving average price is $44.92 and its 200-day moving average price is $47.44. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.80. The firm has a market capitalization of $57.30 billion, a price-to-earnings ratio of 9.70, a PEG ratio of 1.73 and a beta of 0.91. U.S. Bancorp has a one year low of $34.73 and a one year high of $53.98.

U.S. Bancorp (NYSE:USB) last released its earnings results on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The business had revenue of $7.01 billion for the quarter, compared to analysts’ expectations of $7 billion. During the same quarter in the prior year, the firm earned $0.99 earnings per share. The firm’s revenue was up 3.7% on a year-over-year basis. On average, equities research analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $0.50 dividend. The ex-dividend date is Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a yield of 5.44%. U.S. Bancorp’s payout ratio is 52.77%.

U.S. Bancorp 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.