Silicon Valley Capital Partners trimmed its stake in U.S. Bancorp (NYSE:USB – Free Report) by 71.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 72,890 shares of the financial services provider’s stock after selling 180,324 shares during the period. Silicon Valley Capital Partners’ holdings in U.S. Bancorp were worth $3,791,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of the stock. Clayton Financial Group LLC acquired a new stake in shares of U.S. Bancorp in the fourth quarter valued at about $25,000. Financial Life Planners acquired a new position in shares of U.S. Bancorp in the first quarter worth approximately $27,000. Main Street Group LTD acquired a new position in shares of U.S. Bancorp in the first quarter worth approximately $28,000. Rossby Financial LCC boosted its holdings in U.S. Bancorp by 57.8% in the fourth quarter. Rossby Financial LCC now owns 579 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 212 shares during the last quarter. Finally, NFSG Corp bought a new stake in U.S. Bancorp in the first quarter valued at approximately $31,000. 77.60% of the stock is owned by institutional investors.
U.S. Bancorp Stock Performance
NYSE:USB opened at $62.92 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.96. U.S. Bancorp has a twelve month low of $43.46 and a twelve month high of $64.84. The company has a fifty day moving average of $59.65 and a 200-day moving average of $56.65. The firm has a market capitalization of $97.60 billion, a P/E ratio of 12.56, a P/E/G ratio of 1.03 and a beta of 0.96.
U.S. Bancorp Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Tuesday, June 30th. U.S. Bancorp’s dividend payout ratio is 41.52%.
Insider Transactions at U.S. Bancorp
In related news, insider Stephen L. Philipson sold 36,906 shares of the company’s stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $63.08, for a total transaction of $2,328,030.48. Following the transaction, the insider directly owned 74,969 shares of the company’s stock, valued at approximately $4,729,044.52. This represents a 32.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Venkatachari Dilip sold 34,522 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total value of $1,916,661.44. Following the completion of the transaction, the executive vice president owned 51,292 shares in the company, valued at approximately $2,847,731.84. The trade was a 40.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
USB has been the subject of several analyst reports. Keefe, Bruyette & Woods raised their price target on shares of U.S. Bancorp from $63.00 to $66.00 and gave the stock a “market perform” rating in a report on Friday, July 17th. Morgan Stanley increased their price objective on shares of U.S. Bancorp from $64.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Monday, June 29th. Oppenheimer lifted their target price on shares of U.S. Bancorp from $73.00 to $77.00 and gave the stock an “outperform” rating in a research note on Friday, July 17th. Barclays boosted their target price on shares of U.S. Bancorp from $67.00 to $75.00 and gave the company an “overweight” rating in a report on Friday, July 17th. Finally, Evercore raised shares of U.S. Bancorp from an “in-line” rating to an “outperform” rating and set a $72.00 price target on the stock in a research report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $67.06.
Read Our Latest Stock Analysis on USB
U.S. Bancorp Company Profile
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.
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