Clifford Swan Investment Counsel LLC Sells 500 Shares of U.S. Bancorp (NYSE:USB)

Clifford Swan Investment Counsel LLC lowered its position in U.S. Bancorp (NYSE:USB) by 5.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,833 shares of the financial services provider’s stock after selling 500 shares during the quarter. Clifford Swan Investment Counsel LLC’s holdings in U.S. Bancorp were worth $351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in USB. Financial Synergies Wealth Advisors Inc. bought a new position in shares of U.S. Bancorp during the first quarter valued at $30,000. LRI Investments LLC acquired a new stake in U.S. Bancorp in the first quarter valued at $31,000. Eagle Bay Advisors LLC raised its position in U.S. Bancorp by 93.2% during the 1st quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 331 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new position in U.S. Bancorp during the 2nd quarter worth about $30,000. Finally, Crewe Advisors LLC bought a new stake in shares of U.S. Bancorp in the 1st quarter valued at about $39,000. Institutional investors own 77.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on USB. DA Davidson increased their target price on shares of U.S. Bancorp from $44.00 to $49.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. Morgan Stanley increased their price objective on shares of U.S. Bancorp from $47.00 to $54.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. Citigroup lifted their target price on shares of U.S. Bancorp from $45.00 to $49.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. JPMorgan Chase & Co. cut shares of U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price target on the stock. in a research report on Thursday, June 27th. Finally, Evercore ISI lifted their price objective on U.S. Bancorp from $45.00 to $48.00 and gave the stock an “in-line” rating in a research report on Tuesday, June 25th. Thirteen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $48.23.

Insider Activity

In other U.S. Bancorp news, Director Aleem Gillani bought 10,000 shares of U.S. Bancorp stock in a transaction that occurred on Thursday, July 18th. The stock was acquired at an average cost of $44.99 per share, for a total transaction of $449,900.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at $449,900. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.23% of the company’s stock.

U.S. Bancorp Trading Up 1.7 %

Shares of U.S. Bancorp stock opened at $45.26 on Tuesday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.80 and a current ratio of 0.81. The stock has a market capitalization of $70.63 billion, a P/E ratio of 14.99, a P/E/G ratio of 4.34 and a beta of 1.03. U.S. Bancorp has a 52-week low of $30.47 and a 52-week high of $47.31. The stock’s 50-day simple moving average is $43.53 and its 200 day simple moving average is $42.11.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.04. The company had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.81 billion. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. U.S. Bancorp’s revenue was down 4.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.12 EPS. As a group, research analysts anticipate that U.S. Bancorp will post 3.87 EPS for the current year.

U.S. Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were issued a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 4.33%. The ex-dividend date was Friday, June 28th. U.S. Bancorp’s payout ratio is 64.90%.

About U.S. Bancorp

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.