Wealthfront Advisers LLC Acquires 46,501 Shares of U.S. Bancorp $USB

Wealthfront Advisers LLC raised its holdings in U.S. Bancorp (NYSE:USBFree Report) by 16.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 325,516 shares of the financial services provider’s stock after buying an additional 46,501 shares during the period. Wealthfront Advisers LLC’s holdings in U.S. Bancorp were worth $16,930,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the company. Norges Bank acquired a new stake in shares of U.S. Bancorp during the 4th quarter worth about $1,887,497,000. Auto Owners Insurance Co raised its stake in U.S. Bancorp by 5,236.0% in the 4th quarter. Auto Owners Insurance Co now owns 33,350,000 shares of the financial services provider’s stock worth $1,779,556,000 after purchasing an additional 32,725,000 shares in the last quarter. Capital Research Global Investors acquired a new position in shares of U.S. Bancorp during the 4th quarter worth approximately $296,377,000. SG Americas Securities LLC grew its holdings in shares of U.S. Bancorp by 3,451.9% during the 4th quarter. SG Americas Securities LLC now owns 4,332,659 shares of the financial services provider’s stock worth $231,191,000 after purchasing an additional 4,210,676 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of U.S. Bancorp by 20.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 24,919,079 shares of the financial services provider’s stock worth $1,329,683,000 after purchasing an additional 4,153,080 shares during the period. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Venkatachari Dilip sold 34,522 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the transaction, the executive vice president directly owned 51,292 shares of the company’s stock, valued at $2,847,731.84. This trade represents a 40.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jodi L. Richard sold 40,000 shares of U.S. Bancorp stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the transaction, the insider directly owned 207,251 shares in the company, valued at approximately $11,813,307. This represents a 16.18% decrease in their position. The SEC filing for this sale provides additional information. 0.21% of the stock is currently owned by corporate insiders.

U.S. Bancorp Stock Performance

USB stock opened at $63.89 on Friday. The stock has a 50-day moving average price of $57.74 and a 200-day moving average price of $56.03. U.S. Bancorp has a 1-year low of $43.46 and a 1-year high of $64.27. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.03. The firm has a market cap of $99.10 billion, a PE ratio of 13.39, a price-to-earnings-growth ratio of 1.08 and a beta of 0.96.

U.S. Bancorp (NYSE:USBGet Free Report) last released its earnings results on Thursday, July 16th. The financial services provider reported $1.35 EPS for the quarter, topping the consensus estimate of $1.28 by $0.07. The business had revenue of $7.71 billion during the quarter, compared to analysts’ expectations of $7.58 billion. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.During the same quarter last year, the firm posted $1.11 earnings per share. As a group, equities research analysts expect that U.S. Bancorp will post 5.11 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Tuesday, June 30th. U.S. Bancorp’s payout ratio is 43.61%.

Key U.S. Bancorp News

Here are the key news stories impacting U.S. Bancorp this week:

Analyst Ratings Changes

A number of equities analysts have recently commented on USB shares. Weiss Ratings raised U.S. Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Barclays raised their target price on shares of U.S. Bancorp from $65.00 to $67.00 and gave the company an “overweight” rating in a research report on Friday, April 17th. Morgan Stanley upped their price target on shares of U.S. Bancorp from $64.00 to $67.00 and gave the stock an “equal weight” rating in a report on Monday, June 29th. Jefferies Financial Group upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and increased their price target for the company from $60.00 to $75.00 in a research note on Monday, July 6th. Finally, UBS Group raised their price objective on U.S. Bancorp from $58.00 to $66.00 and gave the company a “neutral” rating in a report on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $64.31.

Get Our Latest Stock Analysis on USB

About U.S. Bancorp

(Free Report)

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.

Further Reading

Want to see what other hedge funds are holding USB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for U.S. Bancorp (NYSE:USBFree Report).

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

Receive News & Ratings for U.S. Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for U.S. Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.