New Century Financial Group LLC Reduces Stock Holdings in U.S. Bancorp (NYSE:USB)

New Century Financial Group LLC cut its position in shares of U.S. Bancorp (NYSE:USB) by 13.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,281 shares of the financial services provider’s stock after selling 1,313 shares during the period. New Century Financial Group LLC’s holdings in U.S. Bancorp were worth $405,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Secure Asset Management LLC increased its holdings in shares of U.S. Bancorp by 3.1% during the 4th quarter. Secure Asset Management LLC now owns 9,510 shares of the financial services provider’s stock worth $455,000 after buying an additional 289 shares during the last quarter. Red Door Wealth Management LLC purchased a new position in U.S. Bancorp in the fourth quarter worth approximately $256,000. Donoghue Forlines LLC acquired a new stake in U.S. Bancorp during the fourth quarter worth $1,460,000. Wesbanco Bank Inc. raised its position in U.S. Bancorp by 2.1% in the fourth quarter. Wesbanco Bank Inc. now owns 246,910 shares of the financial services provider’s stock valued at $11,810,000 after purchasing an additional 4,971 shares during the period. Finally, Bartlett & CO. Wealth Management LLC lifted its stake in shares of U.S. Bancorp by 1.1% in the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 377,418 shares of the financial services provider’s stock valued at $18,241,000 after purchasing an additional 4,082 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

U.S. Bancorp Price Performance

Shares of USB opened at $49.00 on Friday. The firm has a market capitalization of $76.43 billion, a price-to-earnings ratio of 12.93, a PEG ratio of 1.81 and a beta of 1.05. The firm’s fifty day simple moving average is $50.01 and its 200-day simple moving average is $47.04. U.S. Bancorp has a twelve month low of $37.81 and a twelve month high of $53.98. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. The company had revenue of $7.01 billion for the quarter, compared to analysts’ expectations of $7 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. U.S. Bancorp’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period last year, the firm earned $0.99 earnings per share. Equities analysts forecast that U.S. Bancorp will post 4.37 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a $0.50 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $2.00 annualized dividend and a yield of 4.08%. U.S. Bancorp’s dividend payout ratio is currently 52.77%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Stephens raised their price objective on U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Citigroup upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $49.00 to $65.00 in a report on Monday, November 25th. Robert W. Baird set a $54.00 target price on shares of U.S. Bancorp in a report on Thursday, October 17th. Evercore ISI upped their price target on U.S. Bancorp from $51.00 to $54.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada set a $53.00 price objective on U.S. Bancorp in a research note on Thursday, October 17th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $54.21.

U.S. Bancorp Company 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.