U.S. Bancorp $USB Position Decreased by Virtue Capital Management LLC

by · The Markets Daily

Virtue Capital Management LLC reduced its holdings in U.S. Bancorp (NYSE:USB – Free Report) by 17.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,073 shares of the financial services provider’s stock after selling 1,047 shares during the quarter. Virtue Capital Management LLC’s holdings in U.S. Bancorp were worth $230,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Davis Selected Advisers lifted its holdings in shares of U.S. Bancorp by 29.8% during the second quarter. Davis Selected Advisers now owns 19,331,637 shares of the financial services provider’s stock valued at $874,757,000 after purchasing an additional 4,442,623 shares during the last quarter. Nuveen LLC purchased a new stake in U.S. Bancorp during the first quarter valued at about $138,183,000. Vanguard Group Inc. lifted its stake in U.S. Bancorp by 1.7% during the first quarter. Vanguard Group Inc. now owns 141,230,279 shares of the financial services provider’s stock valued at $5,962,742,000 after buying an additional 2,393,383 shares in the last quarter. American Century Companies Inc. increased its position in shares of U.S. Bancorp by 17.4% in the first quarter. American Century Companies Inc. now owns 10,070,174 shares of the financial services provider’s stock worth $425,163,000 after acquiring an additional 1,493,318 shares in the last quarter. Finally, Nordea Investment Management AB raised its holdings in shares of U.S. Bancorp by 192.0% during the second quarter. Nordea Investment Management AB now owns 1,994,993 shares of the financial services provider’s stock valued at $90,752,000 after acquiring an additional 1,311,746 shares during the period. 77.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on USB shares. Oppenheimer cut their target price on shares of U.S. Bancorp from $66.00 to $64.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 19th. TD Cowen increased their price objective on U.S. Bancorp from $59.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, October 20th. Wells Fargo & Company raised their price objective on U.S. Bancorp from $50.00 to $52.00 and gave the stock an “overweight” rating in a research report on Friday, October 17th. Morgan Stanley reiterated a “positive” rating on shares of U.S. Bancorp in a report on Friday, October 17th. Finally, UBS Group increased their price target on shares of U.S. Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $54.45.

Get Our Latest Stock Analysis on USB

U.S. Bancorp Stock Performance

Shares of USB opened at $49.00 on Friday. The firm has a market cap of $76.17 billion, a price-to-earnings ratio of 11.21, a price-to-earnings-growth ratio of 1.25 and a beta of 1.10. The company’s fifty day moving average is $47.48 and its 200-day moving average is $46.50. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.10. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $53.75.

U.S. Bancorp (NYSE:USB – Get Free Report) last announced its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.11. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.The company had revenue of $7.34 billion during the quarter, compared to analysts’ expectations of $7.17 billion. During the same quarter in the previous year, the firm earned $1.03 earnings per share. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. Equities analysts expect that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $2.08 dividend on an annualized basis and a yield of 4.2%. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.50. U.S. Bancorp’s dividend payout ratio (DPR) is presently 47.60%.

Insider Activity

In other news, Chairman Andrew Cecere sold 140,445 shares of U.S. Bancorp stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $46.34, for a total value of $6,508,221.30. Following the transaction, the chairman directly owned 1,360,414 shares in the company, valued at approximately $63,041,584.76. The trade was a 9.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP James L. Chosy sold 26,909 shares of the business’s stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $46.86, for a total value of $1,260,955.74. Following the transaction, the executive vice president directly owned 226,375 shares of the company’s stock, valued at $10,607,932.50. This represents a 10.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.23% of the company’s stock.

U.S. Bancorp 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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