Claro Advisors LLC Sells 3,855 Shares of U.S. Bancorp (NYSE:USB)

Claro Advisors LLC reduced its stake in U.S. Bancorp (NYSE:USB) by 5.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 64,536 shares of the financial services provider’s stock after selling 3,855 shares during the period. Claro Advisors LLC’s holdings in U.S. Bancorp were worth $2,885,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Scotia Capital Inc. raised its holdings in U.S. Bancorp by 2.9% during the third quarter. Scotia Capital Inc. now owns 35,012 shares of the financial services provider’s stock worth $1,158,000 after buying an additional 990 shares during the last quarter. Focus Financial Network Inc. ADV bought a new stake in U.S. Bancorp during the fourth quarter worth $5,440,000. Spinnaker Trust purchased a new stake in U.S. Bancorp in the 4th quarter valued at $220,000. Morningstar Investment Management LLC lifted its stake in U.S. Bancorp by 760.8% during the 4th quarter. Morningstar Investment Management LLC now owns 83,833 shares of the financial services provider’s stock valued at $3,628,000 after acquiring an additional 74,094 shares in the last quarter. Finally, Tealwood Asset Management Inc. boosted its holdings in U.S. Bancorp by 33.4% during the 4th quarter. Tealwood Asset Management Inc. now owns 62,539 shares of the financial services provider’s stock worth $2,707,000 after acquiring an additional 15,665 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Analyst Upgrades and Downgrades

USB has been the subject of several analyst reports. Wells Fargo & Company lowered their target price on shares of U.S. Bancorp from $50.00 to $48.00 and set an “overweight” rating for the company in a report on Thursday, April 18th. Morgan Stanley reissued an “equal weight” rating and set a $45.00 target price on shares of U.S. Bancorp in a research report on Friday, June 21st. Barclays cut their target price on U.S. Bancorp from $56.00 to $52.00 and set an “overweight” rating on the stock in a research note on Thursday, April 18th. JPMorgan Chase & Co. lowered U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price target on the stock. in a report on Thursday. Finally, Evercore ISI boosted their target price on shares of U.S. Bancorp from $45.00 to $48.00 and gave the company an “in-line” rating in a research note on Tuesday, June 25th. Sixteen analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, U.S. Bancorp has an average rating of “Hold” and a consensus price target of $46.02.

U.S. Bancorp Price Performance

U.S. Bancorp stock traded down $0.46 during midday trading on Monday, reaching $39.24. 8,068,372 shares of the stock were exchanged, compared to its average volume of 8,405,683. The firm has a market cap of $61.23 billion, a PE ratio of 12.98, a PEG ratio of 3.82 and a beta of 1.04. U.S. Bancorp has a 52 week low of $30.47 and a 52 week high of $45.85. The company’s fifty day moving average is $40.35 and its 200-day moving average is $41.70. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.81 and a current ratio of 0.82.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, April 17th. The financial services provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.89 by $0.01. The business had revenue of $6.72 billion during the quarter, compared to analysts’ expectations of $6.71 billion. U.S. Bancorp had a return on equity of 13.93% and a net margin of 12.13%. The firm’s revenue was down 6.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.16 earnings per share. On average, sell-side analysts forecast that U.S. Bancorp will post 3.84 EPS for the current year.

U.S. Bancorp Dividend Announcement

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

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.