U.S. Bancorp (NYSE:USB) Shares Acquired by AE Wealth Management LLC

AE Wealth Management LLC lifted its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 14.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 497,604 shares of the financial services provider's stock after acquiring an additional 64,425 shares during the period. AE Wealth Management LLC's holdings in U.S. Bancorp were worth $21,009,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in USB. Norges Bank acquired a new position in U.S. Bancorp during the fourth quarter worth approximately $777,524,000. Invesco Ltd. grew its stake in shares of U.S. Bancorp by 48.1% in the 4th quarter. Invesco Ltd. now owns 16,787,513 shares of the financial services provider's stock valued at $802,947,000 after purchasing an additional 5,449,949 shares during the last quarter. Marshall Wace LLP boosted its stake in shares of U.S. Bancorp by 414.1% in the fourth quarter. Marshall Wace LLP now owns 5,789,565 shares of the financial services provider's stock valued at $276,915,000 after buying an additional 4,663,518 shares in the last quarter. FMR LLC boosted its stake in shares of U.S. Bancorp by 5.0% in the fourth quarter. FMR LLC now owns 67,125,746 shares of the financial services provider's stock valued at $3,210,624,000 after buying an additional 3,211,815 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of U.S. Bancorp by 10.9% in the fourth quarter. Northern Trust Corp now owns 17,050,568 shares of the financial services provider's stock valued at $815,529,000 after buying an additional 1,670,305 shares in the last quarter. Institutional investors and hedge funds own 77.60% of the company's stock.

U.S. Bancorp Stock Up 0.6%

Shares of NYSE USB traded up $0.26 on Friday, hitting $46.32. The company had a trading volume of 8,081,840 shares, compared to its average volume of 10,951,260. U.S. Bancorp has a 12-month low of $35.18 and a 12-month high of $53.98. The business has a 50 day moving average of $44.96 and a two-hundred day moving average of $44.24. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.16. The firm has a market capitalization of $72.16 billion, a P/E ratio of 11.08, a PEG ratio of 1.46 and a beta of 0.99.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The financial services provider reported $1.11 EPS for the quarter, beating analysts' consensus estimates of $1.07 by $0.04. The firm had revenue of $7.06 billion during the quarter, compared to the consensus estimate of $7.07 billion. U.S. Bancorp had a return on equity of 13.08% and a net margin of 16.30%. U.S. Bancorp's revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.98 earnings per share. As a group, equities research analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date was Monday, June 30th. U.S. Bancorp's dividend payout ratio is presently 47.85%.

Analysts Set New Price Targets

Several brokerages recently issued reports on USB. Wells Fargo & Company reduced their price objective on U.S. Bancorp from $56.00 to $50.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Citigroup lifted their price objective on U.S. Bancorp from $55.00 to $59.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. DA Davidson boosted their price target on U.S. Bancorp from $49.00 to $52.00 and gave the stock a "buy" rating in a report on Monday. Oppenheimer boosted their price target on U.S. Bancorp from $65.00 to $66.00 and gave the stock an "outperform" rating in a report on Friday, July 18th. Finally, Wall Street Zen raised U.S. Bancorp from a "sell" rating to a "hold" rating in a report on Friday, July 18th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $52.50.

Insider Buying and Selling

In other U.S. Bancorp news, EVP Souheil Badran sold 23,727 shares of the stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $46.34, for a total transaction of $1,099,509.18. Following the transaction, the executive vice president owned 70,346 shares of the company's stock, valued at $3,259,833.64. This trade represents a 25.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.23% of the stock is currently owned by corporate insiders.

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.