DAVENPORT & Co LLC Has $7.34 Million Position in U.S. Bancorp (NYSE:USB)

DAVENPORT & Co LLC trimmed its position in shares of U.S. Bancorp (NYSE:USBFree Report) by 2.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 169,601 shares of the financial services provider’s stock after selling 4,016 shares during the period. DAVENPORT & Co LLC’s holdings in U.S. Bancorp were worth $7,340,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the company. Scotia Capital Inc. boosted its stake in U.S. Bancorp by 2.9% during the third quarter. Scotia Capital Inc. now owns 35,012 shares of the financial services provider’s stock worth $1,158,000 after buying an additional 990 shares in the last quarter. National Bank of Canada FI raised its position in U.S. Bancorp by 292.1% in the third quarter. National Bank of Canada FI now owns 1,386,413 shares of the financial services provider’s stock worth $44,555,000 after purchasing an additional 1,032,866 shares in the last quarter. Tealwood Asset Management Inc. lifted its stake in U.S. Bancorp by 33.4% during the fourth quarter. Tealwood Asset Management Inc. now owns 62,539 shares of the financial services provider’s stock worth $2,707,000 after purchasing an additional 15,665 shares during the period. Van ECK Associates Corp raised its holdings in U.S. Bancorp by 19.4% during the 3rd quarter. Van ECK Associates Corp now owns 8,677,378 shares of the financial services provider’s stock worth $286,874,000 after purchasing an additional 1,410,324 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in U.S. Bancorp by 104.3% during the 4th quarter. SG Americas Securities LLC now owns 105,090 shares of the financial services provider’s stock valued at $4,548,000 after purchasing an additional 53,653 shares during the period. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Price Performance

Shares of NYSE USB opened at $43.12 on Thursday. The stock has a market capitalization of $67.19 billion, a PE ratio of 13.15, a P/E/G ratio of 2.27 and a beta of 1.05. U.S. Bancorp has a fifty-two week low of $27.27 and a fifty-two week high of $45.85. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.81. The business has a fifty day moving average price of $42.21 and a two-hundred day moving average price of $39.12.

U.S. Bancorp (NYSE:USBGet Free Report) last posted its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.28. U.S. Bancorp had a net margin of 13.36% and a return on equity of 14.89%. The business had revenue of $6.76 billion during the quarter, compared to analysts’ expectations of $6.85 billion. During the same quarter in the prior year, the business posted $1.20 earnings per share. U.S. Bancorp’s revenue was up 6.2% compared to the same quarter last year. As a group, equities analysts predict that U.S. Bancorp will post 3.88 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 29th will be given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 4.55%. The ex-dividend date of this dividend is Wednesday, March 27th. U.S. Bancorp’s dividend payout ratio is 59.76%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Robert W. Baird lowered shares of U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $52.00 price objective on the stock. in a research report on Friday, December 15th. Barclays boosted their price target on shares of U.S. Bancorp from $48.00 to $56.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. Odeon Capital Group upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and set a $48.93 price objective for the company in a report on Thursday, December 14th. Compass Point upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their target price for the stock from $46.00 to $49.00 in a report on Friday, March 22nd. Finally, Stephens downgraded U.S. Bancorp from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, December 20th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $46.41.

Check Out Our Latest Research Report on U.S. Bancorp

Insider Activity at U.S. Bancorp

In related news, EVP James L. Chosy sold 21,582 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $41.47, for a total transaction of $895,005.54. Following the sale, the executive vice president now owns 164,880 shares in the company, valued at approximately $6,837,573.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Timothy A. Welsh sold 12,100 shares of the business’s stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $40.33, for a total value of $487,993.00. Following the sale, the insider now owns 106,958 shares of the company’s stock, valued at $4,313,616.14. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP James L. Chosy sold 21,582 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $41.47, for a total value of $895,005.54. Following the transaction, the executive vice president now directly owns 164,880 shares of the company’s stock, valued at $6,837,573.60. The disclosure for this sale can be found here. Insiders sold a total of 60,265 shares of company stock valued at $2,535,903 in the last quarter. Insiders own 0.23% of the company’s stock.

U.S. Bancorp Company Profile

(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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Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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