TIAA CREF Investment Management LLC cut its position in shares of U.S. Bancorp (NYSE:USB) by 14.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 4,552,494 shares of the financial services provider’s stock after selling 757,297 shares during the quarter. TIAA CREF Investment Management LLC’s holdings in U.S. Bancorp were worth $243,923,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Virtue Capital Management LLC purchased a new position in shares of U.S. Bancorp during the 4th quarter worth about $102,000. Meeder Asset Management Inc. purchased a new stake in U.S. Bancorp in the 4th quarter valued at about $106,000. Delpha Capital Management LLC purchased a new stake in U.S. Bancorp in the 4th quarter valued at about $109,000. James Hambro & Partners purchased a new stake in U.S. Bancorp in the 4th quarter valued at about $110,000. Finally, Horan Capital Advisors LLC. purchased a new stake in U.S. Bancorp in the 3rd quarter valued at about $112,000. 74.42% of the stock is owned by hedge funds and other institutional investors.
Shares of U.S. Bancorp (NYSE:USB) opened at $54.15 on Wednesday. U.S. Bancorp has a 52-week low of $49.53 and a 52-week high of $58.50. The firm has a market cap of $90,871.13, a P/E ratio of 16.04, a PEG ratio of 1.81 and a beta of 0.89. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.82 and a quick ratio of 0.81.
USB has been the subject of several research reports. UBS Group cut shares of U.S. Bancorp from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $58.00 to $60.00 in a research report on Tuesday, December 12th. Barclays boosted their price objective on shares of U.S. Bancorp from $60.00 to $65.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. Piper Jaffray Companies raised shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $61.00 price objective for the company in a research report on Friday, January 5th. Vining Sparks reissued a “buy” rating and issued a $64.00 price objective on shares of U.S. Bancorp in a research report on Monday, January 8th. Finally, Jefferies Group reissued a “buy” rating and issued a $63.00 price objective on shares of U.S. Bancorp in a research report on Monday, January 8th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $58.64.
In other news, EVP Craig E. Gifford sold 45,890 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $55.35, for a total value of $2,540,011.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David B. Omaley sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $55.60, for a total transaction of $556,000.00. Following the completion of the sale, the director now directly owns 231,682 shares of the company’s stock, valued at approximately $12,881,519.20. The disclosure for this sale can be found here. Insiders sold a total of 168,016 shares of company stock valued at $9,356,775 in the last ninety days. Corporate insiders own 0.43% of the company’s stock.
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U.S. Bancorp Company Profile
U.S. Bancorp is a multi-state financial services holding company. The Company provides a full range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services. It also engages in credit card services, merchant and automated teller machine (ATM) processing, mortgage banking, insurance, brokerage and leasing.
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