Deprince Race & Zollo Inc. decreased its stake in U.S. Bancorp (NYSE:USB) by 9.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 641,574 shares of the financial services provider’s stock after selling 67,220 shares during the period. Deprince Race & Zollo Inc.’s holdings in U.S. Bancorp were worth $27,517,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Chicago Partners Investment Group LLC increased its position in shares of U.S. Bancorp by 13.3% in the second quarter. Chicago Partners Investment Group LLC now owns 2,606 shares of the financial services provider’s stock valued at $105,000 after buying an additional 306 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in U.S. Bancorp during the second quarter valued at $106,000. First Personal Financial Services boosted its stake in U.S. Bancorp by 40.7% in the second quarter. First Personal Financial Services now owns 2,784 shares of the financial services provider’s stock valued at $112,000 after buying an additional 806 shares during the last quarter. Bellwether Investment Group LLC acquired a new stake in U.S. Bancorp during the second quarter valued at $116,000. Finally, Adirondack Trust Co. boosted its stake in U.S. Bancorp by 25.9% in the third quarter. Adirondack Trust Co. now owns 3,625 shares of the financial services provider’s stock valued at $155,000 after buying an additional 745 shares during the last quarter. Institutional investors own 72.38% of the company’s stock.
Shares of U.S. Bancorp (NYSE:USB) traded down 0.61% on Monday, reaching $49.12. The company’s stock had a trading volume of 3,006,639 shares. The firm has a market capitalization of $85.34 billion, a PE ratio of 15.54 and a beta of 0.80. The firm has a 50-day moving average price of $45.49 and a 200 day moving average price of $43.03. U.S. Bancorp has a one year low of $37.07 and a one year high of $49.57.
U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Wednesday, October 19th. The financial services provider reported $0.84 earnings per share for the quarter, hitting the consensus estimate of $0.84. U.S. Bancorp had a return on equity of 13.92% and a net margin of 26.24%. The firm had revenue of $5.39 billion for the quarter, compared to the consensus estimate of $5.35 billion. During the same period in the prior year, the business posted $0.81 earnings per share. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, analysts anticipate that U.S. Bancorp will post $3.24 earnings per share for the current fiscal year.
Several research firms have weighed in on USB. Zacks Investment Research raised U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Friday, October 21st. Jefferies Group reaffirmed a “hold” rating and issued a $44.00 price target on shares of U.S. Bancorp in a report on Wednesday, August 10th. Wells Fargo & Co. reaffirmed a “buy” rating on shares of U.S. Bancorp in a report on Friday, September 16th. Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of U.S. Bancorp in a report on Saturday, September 17th. Finally, Royal Bank Of Canada raised their price target on U.S. Bancorp from $47.00 to $48.00 and gave the company an “outperform” rating in a report on Thursday, October 20th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eleven have issued a buy rating to the company. U.S. Bancorp currently has an average rating of “Hold” and an average price target of $45.47.
In other news, insider Andrew Cecere sold 416,219 shares of the stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $44.85, for a total value of $18,667,422.15. Following the sale, the insider now directly owns 633,704 shares in the company, valued at $28,421,624.40. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Vice Chairman Terrance R. Dolan sold 2,700 shares of the stock in a transaction that occurred on Thursday, November 3rd. The stock was sold at an average price of $44.20, for a total value of $119,340.00. Following the completion of the sale, the insider now owns 61,095 shares in the company, valued at $2,700,399. The disclosure for this sale can be found here. 0.68% of the stock is owned by insiders.
About U.S. Bancorp
U.S. Bancorp is a multi-state financial services holding company. The Company’s banking subsidiary, U.S. Bank National Association, is engaged in the general banking business in domestic markets. It provides a range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services.