U.S. Bancorp (NYSE:USB) Stock Holdings Cut by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lessened its position in U.S. Bancorp (NYSE:USB) by 4.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,038,500 shares of the financial services provider’s stock after selling 399,858 shares during the period. Envestnet Asset Management Inc. owned approximately 0.52% of U.S. Bancorp worth $319,128,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Financial Synergies Wealth Advisors Inc. acquired a new stake in U.S. Bancorp in the 1st quarter valued at about $30,000. 1620 Investment Advisors Inc. acquired a new position in U.S. Bancorp in the second quarter worth approximately $30,000. Eagle Bay Advisors LLC increased its holdings in shares of U.S. Bancorp by 93.2% in the first quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock valued at $31,000 after buying an additional 331 shares in the last quarter. LRI Investments LLC acquired a new stake in shares of U.S. Bancorp during the 1st quarter valued at $31,000. Finally, Y.D. More Investments Ltd bought a new stake in shares of U.S. Bancorp during the 2nd quarter worth $33,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insider Transactions at U.S. Bancorp

In other news, Director Aleem Gillani bought 10,000 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The stock was acquired at an average cost of $44.99 per share, for a total transaction of $449,900.00. Following the completion of the purchase, the director now owns 10,000 shares of the company’s stock, valued at approximately $449,900. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.23% of the stock is owned by insiders.

U.S. Bancorp Trading Up 1.8 %

Shares of U.S. Bancorp stock opened at $44.62 on Friday. U.S. Bancorp has a 1 year low of $30.47 and a 1 year high of $47.31. The company’s fifty day simple moving average is $43.93 and its 200-day simple moving average is $42.20. The company has a market cap of $69.63 billion, a price-to-earnings ratio of 14.77, a PEG ratio of 4.36 and a beta of 1.04. 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 posted its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.04. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The company had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.81 billion. During the same quarter in the previous year, the firm posted $1.12 EPS. The business’s revenue was down 4.3% compared to the same quarter last year. As a group, sell-side analysts expect that U.S. Bancorp will post 3.87 EPS for the current year.

U.S. Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a $0.50 dividend. The ex-dividend date is Monday, September 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.48%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s dividend payout ratio (DPR) is currently 64.90%.

Analyst Ratings Changes

Several equities research analysts have recently commented on USB shares. StockNews.com raised U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, July 17th. Evercore ISI raised their target price on shares of U.S. Bancorp from $45.00 to $48.00 and gave the stock an “in-line” rating in a report on Tuesday, June 25th. Citigroup lifted their price objective on shares of U.S. Bancorp from $45.00 to $49.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Jefferies Financial Group dropped their price target on shares of U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating on the stock in a research note on Wednesday, July 3rd. Finally, JPMorgan Chase & Co. lowered U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 target price on the stock. in a research report on Thursday, June 27th. Thirteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $48.18.

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.