Mechanics Financial Corp Has $221,000 Position in U.S. Bancorp (NYSE:USB)

Mechanics Financial Corp cut its stake in U.S. Bancorp (NYSE:USB) by 27.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,616 shares of the financial services provider’s stock after selling 1,770 shares during the quarter. Mechanics Financial Corp’s holdings in U.S. Bancorp were worth $221,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of USB. Michael A. Dubis Financial Planning LLC purchased a new position in U.S. Bancorp in the fourth quarter valued at about $283,000. Allstate Corp bought a new stake in shares of U.S. Bancorp in the 4th quarter valued at approximately $2,228,000. DnB Asset Management AS grew its stake in shares of U.S. Bancorp by 0.5% in the 4th quarter. DnB Asset Management AS now owns 606,525 shares of the financial services provider’s stock valued at $29,010,000 after buying an additional 2,855 shares in the last quarter. Premier Fund Managers Ltd increased its holdings in U.S. Bancorp by 1.5% in the fourth quarter. Premier Fund Managers Ltd now owns 153,820 shares of the financial services provider’s stock worth $7,422,000 after buying an additional 2,300 shares during the last quarter. Finally, Pictet Asset Management Holding SA raised its position in U.S. Bancorp by 13.3% during the fourth quarter. Pictet Asset Management Holding SA now owns 929,408 shares of the financial services provider’s stock valued at $44,454,000 after acquiring an additional 109,043 shares in the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on USB. Wells Fargo & Company dropped their price target on shares of U.S. Bancorp from $62.00 to $56.00 and set an “overweight” rating on the stock in a research note on Friday. DA Davidson raised U.S. Bancorp from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $58.00 to $60.00 in a research report on Thursday, January 2nd. Oppenheimer increased their price objective on U.S. Bancorp from $62.00 to $63.00 and gave the company an “outperform” rating in a report on Friday, January 17th. Barclays boosted their target price on U.S. Bancorp from $57.00 to $61.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Finally, Compass Point increased their price target on U.S. Bancorp from $49.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $53.21.

U.S. Bancorp Stock Performance

Shares of NYSE USB opened at $42.21 on Friday. The firm has a market capitalization of $65.77 billion, a price-to-earnings ratio of 11.14, a PEG ratio of 1.73 and a beta of 1.02. U.S. Bancorp has a one year low of $37.81 and a one year high of $53.98. The business has a fifty day simple moving average of $45.74 and a 200 day simple moving average of $47.55. 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 released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The company had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $7 billion. During the same period last year, the firm earned $0.99 EPS. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. Sell-side analysts expect that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.50 per share. The ex-dividend date is Monday, March 31st. This represents a $2.00 annualized dividend and a dividend yield of 4.74%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 52.77%.

Insider Buying and Selling

In other U.S. Bancorp news, EVP James L. Chosy sold 21,451 shares of U.S. Bancorp stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $47.65, for a total transaction of $1,022,140.15. Following the completion of the transaction, the executive vice president now directly owns 198,127 shares of the company’s stock, valued at approximately $9,440,751.55. This trade represents a 9.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Terrance R. Dolan sold 66,317 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $46.96, for a total transaction of $3,114,246.32. Following the completion of the sale, the insider now directly owns 209,482 shares in the company, valued at approximately $9,837,274.72. The trade was a 24.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 219,812 shares of company stock worth $10,385,665 in the last 90 days. 0.23% of the stock is owned by company insiders.

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.