U.S. Bancorp (NYSE:USB) Stake Cut by Spire Wealth Management

Spire Wealth Management lessened its holdings in shares of U.S. Bancorp (NYSE:USB) by 26.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,527 shares of the financial services provider’s stock after selling 2,313 shares during the period. Spire Wealth Management’s holdings in U.S. Bancorp were worth $259,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of U.S. Bancorp during the fourth quarter worth about $827,370,000. Boston Partners bought a new stake in shares of U.S. Bancorp during the fourth quarter valued at approximately $154,517,000. Confluence Investment Management LLC bought a new position in U.S. Bancorp in the 1st quarter worth approximately $92,192,000. BNP Paribas Financial Markets raised its stake in U.S. Bancorp by 88.9% during the 1st quarter. BNP Paribas Financial Markets now owns 2,331,050 shares of the financial services provider’s stock valued at $104,198,000 after acquiring an additional 1,097,179 shares in the last quarter. Finally, Clearbridge Investments LLC grew its stake in shares of U.S. Bancorp by 20.0% in the fourth quarter. Clearbridge Investments LLC now owns 5,974,323 shares of the financial services provider’s stock worth $258,569,000 after purchasing an additional 996,045 shares in the last quarter. Institutional investors own 77.60% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on USB. DA Davidson raised their target price on shares of U.S. Bancorp from $44.00 to $49.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. JPMorgan Chase & Co. cut U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price target on the stock. in a research report on Thursday, June 27th. Evercore ISI raised their target price on U.S. Bancorp from $45.00 to $48.00 and gave the company an “in-line” rating in a research note on Tuesday, June 25th. Citigroup upped their price target on shares of U.S. Bancorp from $45.00 to $49.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. Finally, StockNews.com upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, July 17th. Thirteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $48.23.

U.S. Bancorp Stock Down 1.8 %

U.S. Bancorp stock opened at $46.40 on Wednesday. The company has a market capitalization of $72.41 billion, a P/E ratio of 15.36, a P/E/G ratio of 4.57 and a beta of 1.04. U.S. Bancorp has a 1-year low of $30.47 and a 1-year high of $47.31. The firm’s fifty day simple moving average is $43.07 and its 200-day simple moving average is $42.00. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.05.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.04. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The business had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.81 billion. During the same period last year, the business earned $1.12 EPS. The firm’s revenue was down 4.3% compared to the same quarter last year. Sell-side analysts forecast that U.S. Bancorp will post 3.89 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 4.22%. The ex-dividend date was Friday, June 28th. U.S. Bancorp’s dividend payout ratio is 64.90%.

Insider Activity

In other U.S. Bancorp news, Director Aleem Gillani bought 10,000 shares of the stock in a transaction on Thursday, July 18th. The shares were purchased at an average price of $44.99 per share, with a total value of $449,900.00. Following the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $449,900. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.23% of the stock is currently owned by company insiders.

About U.S. Bancorp

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.