Veracity Capital LLC Decreases Stock Position in U.S. Bancorp (NYSE:USB)

Veracity Capital LLC cut its holdings in U.S. Bancorp (NYSE:USB) by 7.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,753 shares of the financial services provider’s stock after selling 410 shares during the period. Veracity Capital LLC’s holdings in U.S. Bancorp were worth $212,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in USB. Norges Bank purchased a new stake in shares of U.S. Bancorp in the 4th quarter worth about $827,370,000. Vanguard Group Inc. lifted its holdings in U.S. Bancorp by 5.0% in the 3rd quarter. Vanguard Group Inc. now owns 136,513,206 shares of the financial services provider’s stock valued at $4,513,127,000 after purchasing an additional 6,479,642 shares in the last quarter. Boston Partners purchased a new position in U.S. Bancorp in the 4th quarter valued at about $154,517,000. Charles Schwab Investment Management Inc. lifted its holdings in U.S. Bancorp by 8.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 33,719,110 shares of the financial services provider’s stock valued at $1,459,363,000 after purchasing an additional 2,598,163 shares in the last quarter. Finally, Confluence Investment Management LLC purchased a new position in U.S. Bancorp in the 1st quarter valued at about $92,192,000. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

U.S. Bancorp Stock Performance

Shares of USB opened at $39.59 on Friday. The business’s fifty day moving average price is $40.23 and its 200 day moving average price is $41.59. U.S. Bancorp has a 12-month low of $30.47 and a 12-month high of $45.85. The stock has a market capitalization of $61.78 billion, a PE ratio of 13.08, a price-to-earnings-growth ratio of 3.81 and a beta of 1.04. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.82 and a quick ratio of 0.81.

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

U.S. Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 4.95%. The ex-dividend date is Friday, June 28th. U.S. Bancorp’s payout ratio is 64.90%.

Wall Street Analysts Forecast Growth

USB has been the topic of a number of recent research reports. Compass Point upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their target price for the company from $46.00 to $49.00 in a report on Friday, March 22nd. StockNews.com lowered shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday. Wells Fargo & Company reduced their target price on shares of U.S. Bancorp from $50.00 to $48.00 and set an “overweight” rating on the stock in a report on Thursday, April 18th. JPMorgan Chase & Co. lowered shares of U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 target price on the stock. in a report on Thursday, June 27th. Finally, Barclays cut their price objective on shares of U.S. Bancorp from $56.00 to $52.00 and set an “overweight” rating on the stock in a report on Thursday, April 18th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $45.84.

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.