Kennebec Savings Bank Sells 322 Shares of U.S. Bancorp (NYSE:USB)

Kennebec Savings Bank lessened its stake in U.S. Bancorp (NYSE:USB) by 21.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,159 shares of the financial services provider’s stock after selling 322 shares during the period. Kennebec Savings Bank’s holdings in U.S. Bancorp were worth $56,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of USB. State Street Corp increased its position in U.S. Bancorp by 1.2% during the third quarter. State Street Corp now owns 67,282,970 shares of the financial services provider’s stock valued at $3,110,115,000 after acquiring an additional 819,805 shares during the last quarter. FMR LLC lifted its stake in shares of U.S. Bancorp by 32.7% in the 3rd quarter. FMR LLC now owns 63,913,931 shares of the financial services provider’s stock worth $2,922,784,000 after purchasing an additional 15,746,852 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of U.S. Bancorp by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 47,328,880 shares of the financial services provider’s stock worth $2,164,350,000 after buying an additional 1,796,336 shares during the last quarter. Geode Capital Management LLC grew its position in U.S. Bancorp by 1.8% during the third quarter. Geode Capital Management LLC now owns 33,086,597 shares of the financial services provider’s stock valued at $1,507,616,000 after buying an additional 599,852 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in U.S. Bancorp by 4.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,235,426 shares of the financial services provider’s stock valued at $513,796,000 after buying an additional 436,252 shares during the last quarter. 77.60% of the stock is owned by institutional investors.

U.S. Bancorp Price Performance

USB stock opened at $48.04 on Friday. U.S. Bancorp has a 52 week low of $37.81 and a 52 week high of $53.98. The firm has a market capitalization of $74.94 billion, a P/E ratio of 12.68, a price-to-earnings-growth ratio of 1.77 and a beta of 1.05. The company has a fifty day simple moving average of $49.87 and a two-hundred day simple moving average of $47.30. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, topping the consensus estimate 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 company had revenue of $7.01 billion during the quarter, compared to analyst estimates of $7 billion. During the same quarter last year, the business posted $0.99 earnings per share. The firm’s revenue was up 3.7% on a year-over-year basis. Analysts anticipate that U.S. Bancorp will post 4.37 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.16%. The ex-dividend date was Tuesday, December 31st. U.S. Bancorp’s dividend payout ratio is currently 52.77%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on USB. Oppenheimer lifted their price target on shares of U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. DA Davidson raised U.S. Bancorp from a “neutral” rating to a “buy” rating and boosted their price target for the company from $58.00 to $60.00 in a report on Thursday, January 2nd. Citigroup raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and lifted their price target for the company from $49.00 to $65.00 in a report on Monday, November 25th. Robert W. Baird set a $54.00 price objective on shares of U.S. Bancorp in a research report on Thursday, October 17th. Finally, Wells Fargo & Company upped their target price on shares of U.S. Bancorp from $60.00 to $62.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, U.S. Bancorp has a consensus rating of “Moderate Buy” and an average target price 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.