Wealthfront Advisers LLC cut its stake in shares of U.S. Bancorp (NYSE:USB) by 1.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 75,250 shares of the financial services provider’s stock after selling 1,164 shares during the period. Wealthfront Advisers LLC’s holdings in U.S. Bancorp were worth $3,626,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. Tyers Asset Management LLC grew its holdings in shares of U.S. Bancorp by 1.7% in the first quarter. Tyers Asset Management LLC now owns 488,864 shares of the financial services provider’s stock valued at $23,558,000 after purchasing an additional 8,192 shares in the last quarter. Alphasimplex Group LLC acquired a new position in shares of U.S. Bancorp in the first quarter valued at approximately $1,679,000. Institutional & Family Asset Management LLC grew its holdings in shares of U.S. Bancorp by 2.9% in the first quarter. Institutional & Family Asset Management LLC now owns 71,149 shares of the financial services provider’s stock valued at $3,429,000 after purchasing an additional 2,013 shares in the last quarter. Northern Trust Corp grew its holdings in U.S. Bancorp by 0.9% during the 1st quarter. Northern Trust Corp now owns 20,320,154 shares of the financial services provider’s stock worth $979,228,000 after acquiring an additional 190,324 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew its holdings in U.S. Bancorp by 1.2% during the 1st quarter. Commonwealth Equity Services LLC now owns 326,613 shares of the financial services provider’s stock worth $15,739,000 after acquiring an additional 3,760 shares in the last quarter. Institutional investors and hedge funds own 74.66% of the company’s stock.
Several research analysts have commented on USB shares. Zacks Investment Research cut shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Monday, April 15th. Oppenheimer boosted their price target on shares of U.S. Bancorp from $58.00 to $62.00 and gave the stock an “outperform” rating in a report on Tuesday, March 26th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $58.33.
NYSE USB opened at $52.62 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.87. U.S. Bancorp has a 52 week low of $43.14 and a 52 week high of $55.56. The company has a market cap of $83.89 billion, a price-to-earnings ratio of 12.70, a PEG ratio of 1.76 and a beta of 1.08.
U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $1.00 EPS for the quarter, hitting the consensus estimate of $1.00. U.S. Bancorp had a net margin of 27.02% and a return on equity of 15.53%. The company had revenue of $5.58 billion during the quarter, compared to analysts’ expectations of $5.62 billion. During the same quarter in the previous year, the business posted $0.96 EPS. The firm’s revenue was up 2.0% on a year-over-year basis. As a group, research analysts expect that U.S. Bancorp will post 4.29 EPS for the current fiscal year.
In other news, Vice Chairman James B. Kelligrew sold 20,000 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $2,504,941.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Gillern Jeffry H. Von sold 4,669 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $53.14, for a total transaction of $248,110.66. The disclosure for this sale can be found here. Insiders have sold a total of 37,233 shares of company stock valued at $1,907,734 in the last quarter. 0.24% of the stock is currently owned by company insiders.
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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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