U.S. Bancorp (NYSE:USB) Shares Purchased by Wealthfront Advisers LLC

by · The Cerbat Gem

Wealthfront Advisers LLC grew its stake in shares of U.S. Bancorp (NYSE:USB – Free Report) by 25.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 312,513 shares of the financial services provider’s stock after acquiring an additional 64,134 shares during the quarter. Wealthfront Advisers LLC’s holdings in U.S. Bancorp were worth $13,194,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of U.S. Bancorp by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 138,836,896 shares of the financial services provider’s stock valued at $6,640,569,000 after acquiring an additional 1,079,056 shares in the last quarter. FMR LLC increased its holdings in shares of U.S. Bancorp by 5.0% during the fourth quarter. FMR LLC now owns 67,125,746 shares of the financial services provider’s stock valued at $3,210,624,000 after acquiring an additional 3,211,815 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of U.S. Bancorp by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 33,937,360 shares of the financial services provider’s stock valued at $1,618,948,000 after acquiring an additional 850,763 shares in the last quarter. Northern Trust Corp increased its holdings in shares of U.S. Bancorp by 10.9% during the fourth quarter. Northern Trust Corp now owns 17,050,568 shares of the financial services provider’s stock valued at $815,529,000 after acquiring an additional 1,670,305 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of U.S. Bancorp by 48.1% during the fourth quarter. Invesco Ltd. now owns 16,787,513 shares of the financial services provider’s stock valued at $802,947,000 after acquiring an additional 5,449,949 shares in the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insider Activity

In other U.S. Bancorp news, Director Aleem Gillani bought 5,000 shares of the firm’s stock in a transaction dated Monday, April 21st. The shares were purchased at an average price of $37.32 per share, for a total transaction of $186,600.00. Following the transaction, the director directly owned 15,000 shares of the company’s stock, valued at approximately $559,800. This represents a 50.00% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.23% of the stock is owned by company insiders.

U.S. Bancorp Trading Down 3.0%

U.S. Bancorp stock opened at $45.67 on Wednesday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $53.98. The stock’s 50 day simple moving average is $44.59 and its two-hundred day simple moving average is $44.32. The firm has a market cap of $71.15 billion, a PE ratio of 11.30, a P/E/G ratio of 1.81 and a beta of 0.99.

U.S. Bancorp (NYSE:USB – Get Free Report) last announced its earnings results on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.06. U.S. Bancorp had a return on equity of 13.02% and a net margin of 15.70%. The firm had revenue of $6.96 billion for the quarter, compared to analyst estimates of $6.92 billion. During the same quarter last year, the firm posted $0.78 EPS. Analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a dividend of $0.50 per share. The ex-dividend date was Monday, June 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.38%. U.S. Bancorp’s dividend payout ratio (DPR) is 49.50%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Wolfe Research upgraded shares of U.S. Bancorp from a “peer perform” rating to an “outperform” rating and set a $49.00 price objective on the stock in a report on Thursday, April 3rd. DA Davidson cut their price target on shares of U.S. Bancorp from $54.00 to $49.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. Cowen assumed coverage on shares of U.S. Bancorp in a report on Wednesday, May 14th. They issued a “buy” rating on the stock. The Goldman Sachs Group increased their price target on shares of U.S. Bancorp from $41.00 to $46.00 and gave the stock a “neutral” rating in a report on Tuesday, June 10th. Finally, Oppenheimer increased their price target on shares of U.S. Bancorp from $57.00 to $59.00 and gave the stock an “outperform” rating in a report on Monday, April 28th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, U.S. Bancorp currently has a consensus rating of “Moderate Buy” and an average price target of $51.70.

View Our Latest Stock Analysis on U.S. Bancorp

About U.S. Bancorp

(Free Report)

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.

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