Covestor Ltd Sells 982 Shares of U.S. Bancorp (NYSE:USB)

Covestor Ltd reduced its position in U.S. Bancorp (NYSE:USB) by 41.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,378 shares of the financial services provider’s stock after selling 982 shares during the period. Covestor Ltd’s holdings in U.S. Bancorp were worth $61,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Norges Bank bought a new position in U.S. Bancorp during the 4th quarter valued at $827,370,000. Boston Partners bought a new position in U.S. Bancorp during the 4th quarter valued at $154,517,000. Charles Schwab Investment Management Inc. lifted its stake in U.S. Bancorp by 8.3% during 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 acquiring an additional 2,598,163 shares in the last quarter. Confluence Investment Management LLC bought a new position in U.S. Bancorp during the 1st quarter valued at $92,192,000. Finally, BNP Paribas Financial Markets increased its position in shares of 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 purchasing an additional 1,097,179 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, Director Aleem Gillani bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The stock was bought at an average price of $44.99 per share, for a total transaction of $449,900.00. Following the completion of the acquisition, the director now directly owns 10,000 shares in the company, valued at $449,900. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.23% of the stock is owned by corporate insiders.

U.S. Bancorp Stock Performance

NYSE:USB opened at $44.76 on Thursday. The firm has a market cap of $69.85 billion, a PE ratio of 14.82, a price-to-earnings-growth ratio of 4.05 and a beta of 1.04. U.S. Bancorp has a fifty-two week low of $30.47 and a fifty-two week high of $45.85. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.80 and a current ratio of 0.81. The business has a 50 day moving average price of $40.59 and a 200-day moving average price of $41.50.

U.S. Bancorp (NYSE:USB) last released 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. The firm had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.81 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.12 earnings per share. Equities research analysts predict that U.S. Bancorp will post 3.89 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were issued a dividend of $0.49 per share. The ex-dividend date was Friday, June 28th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.38%. U.S. Bancorp’s dividend payout ratio is presently 64.90%.

Analyst Upgrades and Downgrades

USB has been the topic of a number of research analyst reports. HSBC raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating and boosted their price target for the stock from $47.00 to $53.00 in a report on Thursday, March 28th. StockNews.com raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, July 17th. DA Davidson boosted their price target on shares of U.S. Bancorp from $44.00 to $49.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. UBS Group boosted their price target on shares of U.S. Bancorp from $43.00 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Finally, Royal Bank of Canada boosted their price target on shares of U.S. Bancorp from $47.00 to $48.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Thirteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $47.76.

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.