Griffin Asset Management Inc. decreased its stake in shares of U.S. Bancorp (NYSE:USB) by 4.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,120 shares of the financial services provider’s stock after selling 2,830 shares during the quarter. Griffin Asset Management Inc.’s holdings in U.S. Bancorp were worth $3,138,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of USB. Norges Bank purchased a new stake in shares of U.S. Bancorp in the 4th quarter valued at $723,318,000. Oregon Public Employees Retirement Fund boosted its holdings in shares of U.S. Bancorp by 4,346.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 7,619,515 shares of the financial services provider’s stock valued at $167,000 after acquiring an additional 7,448,158 shares during the last quarter. FMR LLC boosted its holdings in shares of U.S. Bancorp by 12.9% in the 4th quarter. FMR LLC now owns 27,563,463 shares of the financial services provider’s stock valued at $1,259,651,000 after acquiring an additional 3,143,660 shares during the last quarter. Confluence Investment Management LLC purchased a new stake in shares of U.S. Bancorp in the 1st quarter valued at $81,175,000. Finally, Alecta Pensionsforsakring Omsesidigt boosted its holdings in shares of U.S. Bancorp by 31.4% in the 1st quarter. Alecta Pensionsforsakring Omsesidigt now owns 5,440,000 shares of the financial services provider’s stock valued at $262,045,000 after acquiring an additional 1,300,000 shares during the last quarter. Institutional investors and hedge funds own 74.62% of the company’s stock.
In other news, Vice Chairman Leslie V. Godridge sold 12,564 shares of the stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $51.53, for a total value of $647,422.92. Following the completion of the sale, the insider now directly owns 39,330 shares in the company, valued at $2,026,674.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman James B. Kelligrew sold 20,000 shares of the stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $50.61, for a total transaction of $1,012,200.00. Following the completion of the sale, the insider now owns 49,495 shares of the company’s stock, valued at $2,504,941.95. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,233 shares of company stock worth $1,907,734. Insiders own 0.24% of the company’s stock.
USB traded up $0.68 during midday trading on Tuesday, hitting $52.19. 4,934,385 shares of the company traded hands, compared to its average volume of 6,124,307. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.87. The company has a market cap of $83.77 billion, a price-to-earnings ratio of 12.73, a PEG ratio of 1.75 and a beta of 1.08. U.S. Bancorp has a 52-week low of $43.14 and a 52-week high of $55.56.
U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.00. The business had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $5.62 billion. U.S. Bancorp had a net margin of 27.02% and a return on equity of 15.53%. The company’s revenue was up 2.0% compared to the same quarter last year. During the same period last year, the firm posted $0.96 earnings per share. On average, research analysts forecast that U.S. Bancorp will post 4.29 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 2.84%. U.S. Bancorp’s payout ratio is 36.10%.
About U.S. Bancorp
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.
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