Independence Bank of Kentucky Has $2.23 Million Stock Holdings in U.S. Bancorp (NYSE:USB)

Independence Bank of Kentucky decreased its holdings in U.S. Bancorp (NYSE:USBFree Report) by 1.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 51,581 shares of the financial services provider’s stock after selling 611 shares during the quarter. U.S. Bancorp accounts for approximately 0.8% of Independence Bank of Kentucky’s holdings, making the stock its 27th biggest holding. Independence Bank of Kentucky’s holdings in U.S. Bancorp were worth $2,232,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. LMG Wealth Partners LLC increased its position in shares of U.S. Bancorp by 5.6% during the 4th quarter. LMG Wealth Partners LLC now owns 107,551 shares of the financial services provider’s stock worth $4,655,000 after purchasing an additional 5,719 shares in the last quarter. TIAA Trust National Association increased its position in shares of U.S. Bancorp by 0.6% during the 4th quarter. TIAA Trust National Association now owns 58,533 shares of the financial services provider’s stock worth $2,533,000 after purchasing an additional 347 shares in the last quarter. Welch Group LLC acquired a new stake in shares of U.S. Bancorp during the 4th quarter worth about $203,000. State of Michigan Retirement System increased its position in shares of U.S. Bancorp by 3.9% during the 4th quarter. State of Michigan Retirement System now owns 443,382 shares of the financial services provider’s stock worth $19,190,000 after purchasing an additional 16,600 shares in the last quarter. Finally, Drive Wealth Management LLC increased its position in shares of U.S. Bancorp by 2.9% during the 4th quarter. Drive Wealth Management LLC now owns 18,245 shares of the financial services provider’s stock worth $799,000 after purchasing an additional 516 shares in the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Stock Down 0.3 %

U.S. Bancorp stock opened at $43.12 on Thursday. The company’s 50 day simple moving average is $42.21 and its 200 day simple moving average is $39.12. U.S. Bancorp has a fifty-two week low of $27.27 and a fifty-two week high of $45.85. The firm has a market capitalization of $67.19 billion, a price-to-earnings ratio of 13.15, a PEG ratio of 2.23 and a beta of 1.05. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.81.

U.S. Bancorp (NYSE:USBGet Free Report) last released its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.28. U.S. Bancorp had a net margin of 13.36% and a return on equity of 14.89%. The business had revenue of $6.76 billion for the quarter, compared to analyst estimates of $6.85 billion. During the same quarter last year, the firm earned $1.20 EPS. U.S. Bancorp’s quarterly revenue was up 6.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that U.S. Bancorp will post 3.88 EPS for the current year.

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 29th will be paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 4.55%. The ex-dividend date of this dividend is Wednesday, March 27th. U.S. Bancorp’s payout ratio is 59.76%.

Insider Buying and Selling

In other U.S. Bancorp news, insider Terrance R. Dolan sold 26,583 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $43.37, for a total transaction of $1,152,904.71. Following the sale, the insider now directly owns 144,236 shares in the company, valued at approximately $6,255,515.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other U.S. Bancorp news, insider Terrance R. Dolan sold 26,583 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $43.37, for a total transaction of $1,152,904.71. Following the sale, the insider now directly owns 144,236 shares in the company, valued at approximately $6,255,515.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP James L. Chosy sold 21,582 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $41.47, for a total transaction of $895,005.54. Following the sale, the executive vice president now owns 164,880 shares in the company, valued at $6,837,573.60. The disclosure for this sale can be found here. Insiders have sold 60,265 shares of company stock valued at $2,535,903 in the last 90 days. 0.23% of the stock is owned by insiders.

Wall Street Analyst Weigh In

USB has been the subject of a number of recent analyst reports. The Goldman Sachs Group increased their target price on shares of U.S. Bancorp from $37.00 to $42.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 19th. Wells Fargo & Company increased their target price on shares of U.S. Bancorp from $43.00 to $50.00 and gave the stock an “overweight” rating in a research report on Thursday, December 14th. Odeon Capital Group raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $48.93 price objective on the stock in a report on Thursday, December 14th. Oppenheimer decreased their price objective on shares of U.S. Bancorp from $61.00 to $55.00 and set an “outperform” rating on the stock in a report on Tuesday, March 19th. Finally, StockNews.com lowered shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, February 20th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $46.41.

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About U.S. Bancorp

(Free Report)

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.

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Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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