U.S. Bancorp (NYSE:USB) Shares Sold by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC lessened its stake in shares of U.S. Bancorp (NYSE:USBGet Rating) by 2.6% during the first quarter, Holdings Channel.com reports. The fund owned 16,078 shares of the financial services provider’s stock after selling 431 shares during the period. Kestra Private Wealth Services LLC’s holdings in U.S. Bancorp were worth $855,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of U.S. Bancorp by 2.4% during the first quarter. Vanguard Group Inc. now owns 111,805,389 shares of the financial services provider’s stock valued at $5,942,456,000 after acquiring an additional 2,618,810 shares during the period. BlackRock Inc. increased its stake in shares of U.S. Bancorp by 1.9% during the first quarter. BlackRock Inc. now owns 97,457,184 shares of the financial services provider’s stock valued at $5,179,851,000 after acquiring an additional 1,840,496 shares during the period. State Street Corp boosted its holdings in U.S. Bancorp by 0.3% during the first quarter. State Street Corp now owns 63,300,947 shares of the financial services provider’s stock worth $3,393,153,000 after buying an additional 190,720 shares in the last quarter. Geode Capital Management LLC boosted its holdings in U.S. Bancorp by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 23,287,715 shares of the financial services provider’s stock worth $1,305,145,000 after buying an additional 493,821 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in U.S. Bancorp by 7.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 22,052,957 shares of the financial services provider’s stock worth $1,172,115,000 after buying an additional 1,622,711 shares in the last quarter. Institutional investors and hedge funds own 74.93% of the company’s stock.

Wall Street Analyst Weigh In

USB has been the subject of a number of research reports. Credit Suisse Group reduced their target price on shares of U.S. Bancorp from $57.00 to $54.00 and set a “neutral” rating for the company in a report on Tuesday, July 19th. Wolfe Research reduced their target price on shares of U.S. Bancorp from $62.00 to $54.00 and set an “outperform” rating for the company in a report on Thursday, May 26th. Citigroup raised their price objective on shares of U.S. Bancorp to $52.00 in a research note on Friday, July 22nd. Jefferies Financial Group decreased their price objective on shares of U.S. Bancorp from $52.00 to $45.00 in a research note on Monday, July 11th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of U.S. Bancorp from $64.00 to $60.00 and set a “buy” rating for the company in a research note on Monday, September 12th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $58.56.

U.S. Bancorp Price Performance

U.S. Bancorp stock opened at $45.87 on Friday. The company has a market capitalization of $68.15 billion, a P/E ratio of 10.54, a P/E/G ratio of 1.59 and a beta of 0.97. The firm’s fifty day simple moving average is $46.99 and its 200-day simple moving average is $49.67. The company has a current ratio of 0.75, a quick ratio of 0.74 and a debt-to-equity ratio of 0.70. U.S. Bancorp has a 1-year low of $43.74 and a 1-year high of $63.57.

U.S. Bancorp (NYSE:USBGet Rating) last released its quarterly earnings results on Friday, July 15th. The financial services provider reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. The business had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $5.89 billion. U.S. Bancorp had a net margin of 28.08% and a return on equity of 15.05%. U.S. Bancorp’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.28 EPS. Sell-side analysts forecast that U.S. Bancorp will post 4.45 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Friday, September 30th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 4.19%. The ex-dividend date is Thursday, September 29th. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.46. U.S. Bancorp’s dividend payout ratio (DPR) is 42.30%.

U.S. Bancorp Company Profile

(Get Rating)

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 in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments.

See Also

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

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