Atlas Financial Advisors Inc. Sells 1,426 Shares of U.S. Bancorp (NYSE:USB)

Atlas Financial Advisors Inc. lessened its position in U.S. Bancorp (NYSE:USB) by 7.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 17,906 shares of the financial services provider’s stock after selling 1,426 shares during the period. U.S. Bancorp comprises 1.2% of Atlas Financial Advisors Inc.’s portfolio, making the stock its 11th largest holding. Atlas Financial Advisors Inc.’s holdings in U.S. Bancorp were worth $711,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new position in U.S. Bancorp during the fourth quarter valued at approximately $827,370,000. Boston Partners bought a new position in shares of U.S. Bancorp during the 4th quarter valued at $154,517,000. Confluence Investment Management LLC purchased a new position in shares of U.S. Bancorp in the 1st quarter worth $92,192,000. National Bank of Canada FI grew its holdings 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 worth $105,903,000 after acquiring an additional 2,046,522 shares during the period. Finally, BNP Paribas Financial Markets increased its position in U.S. Bancorp by 88.9% during the first quarter. BNP Paribas Financial Markets now owns 2,331,050 shares of the financial services provider’s stock valued at $104,198,000 after acquiring an additional 1,097,179 shares during the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Insider Activity at U.S. Bancorp

In other news, Director Aleem Gillani acquired 10,000 shares of the firm’s stock in a transaction on 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 purchase, the director now directly owns 10,000 shares in the company, valued at $449,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.23% of the stock is currently owned by insiders.

U.S. Bancorp Price Performance

USB stock opened at $44.48 on Friday. U.S. Bancorp has a 52 week low of $30.47 and a 52 week high of $47.31. The firm has a market capitalization of $69.41 billion, a P/E ratio of 14.73, a price-to-earnings-growth ratio of 4.57 and a beta of 1.04. The company has a fifty day simple moving average of $43.41 and a two-hundred day simple moving average of $42.07. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.05.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.04. The firm had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.81 billion. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The firm’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.12 EPS. Analysts anticipate that U.S. Bancorp will post 3.89 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were paid a dividend of $0.49 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.41%. U.S. Bancorp’s dividend payout ratio is presently 64.90%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on USB shares. Wells Fargo & Company raised their target price on U.S. Bancorp from $48.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, July 18th. Citigroup upped their target price on shares of U.S. Bancorp from $45.00 to $49.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. Evercore ISI lifted their price target on shares of U.S. Bancorp from $45.00 to $48.00 and gave the stock an “in-line” rating in a research note on Tuesday, June 25th. StockNews.com upgraded U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. Finally, JPMorgan Chase & Co. cut U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price objective on the stock. in a research report on Thursday, June 27th. Thirteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $48.23.

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.