SeaCrest Wealth Management LLC Decreases Position in U.S. Bancorp (NYSE:USB)

SeaCrest Wealth Management LLC trimmed its holdings in U.S. Bancorp (NYSE:USB) by 58.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,279 shares of the financial services provider’s stock after selling 14,543 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in U.S. Bancorp were worth $459,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in USB. CGC Financial Services LLC purchased a new position in shares of U.S. Bancorp in the 4th quarter valued at $25,000. BKM Wealth Management LLC purchased a new position in shares of U.S. Bancorp during the fourth quarter worth about $26,000. Planned Solutions Inc. acquired a new stake in shares of U.S. Bancorp during the fourth quarter worth about $27,000. Naples Money Management LLC purchased a new stake in shares of U.S. Bancorp in the 4th quarter valued at about $30,000. Finally, Financial Synergies Wealth Advisors Inc. acquired a new stake in shares of U.S. Bancorp in the 1st quarter valued at about $30,000. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on USB shares. DA Davidson cut their price target on U.S. Bancorp from $45.00 to $44.00 and set a “neutral” rating on the stock in a research report on Thursday, April 18th. Evercore ISI upped their price target on shares of U.S. Bancorp from $45.00 to $48.00 and gave the company an “in-line” rating in a research report on Tuesday, June 25th. Wells Fargo & Company lowered their price objective on shares of U.S. Bancorp from $50.00 to $48.00 and set an “overweight” rating on the stock in a research report on Thursday, April 18th. Jefferies Financial Group upped their target price on shares of U.S. Bancorp from $44.00 to $46.00 and gave the company a “hold” rating in a report on Monday, April 8th. Finally, HSBC upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and increased their target price for the stock from $47.00 to $53.00 in a research note on Thursday, March 28th. Sixteen equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $46.02.

U.S. Bancorp Stock Up 1.9 %

Shares of NYSE USB opened at $39.97 on Wednesday. The stock has a market capitalization of $62.37 billion, a price-to-earnings ratio of 13.24, a price-to-earnings-growth ratio of 3.82 and a beta of 1.04. U.S. Bancorp has a 52 week low of $30.47 and a 52 week high of $45.85. The firm has a 50-day moving average price of $40.32 and a 200 day moving average price of $41.65. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 1.07.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. The company had revenue of $6.72 billion during the quarter, compared to the consensus estimate of $6.71 billion. U.S. Bancorp had a net margin of 12.13% and a return on equity of 13.93%. The company’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same period last year, the firm earned $1.16 EPS. Equities research analysts anticipate that U.S. Bancorp will post 3.84 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a dividend of $0.49 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.96 dividend on an annualized basis and a yield of 4.90%. U.S. Bancorp’s payout ratio is 64.90%.

U.S. Bancorp Company Profile

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.