Aristotle Capital Management LLC Has $975.05 Million Stock Position in U.S. Bancorp $USB

Key Points

• Aristotle Capital Management trimmed its U.S. Bancorp stake by 4.7% in the first quarter, but it still held 18.75 million shares worth about $975 million, making USB its 13th-largest position.
• U.S. Bancorp reported better-than-expected quarterly results, posting EPS of $1.35 versus the $1.28 consensus and revenue of $7.71 billion versus estimates of $7.58 billion.
• Analyst sentiment remains constructive: several firms raised price targets, and the stock carries a Moderate Buy consensus with an average target price of $67.

Aristotle Capital Management LLC cut its stake in U.S. Bancorp (NYSE:USB - Free Report) by 4.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,747,239 shares of the financial services provider's stock after selling 916,641 shares during the quarter. U.S. Bancorp accounts for about 2.0% of Aristotle Capital Management LLC's portfolio, making the stock its 13th biggest position. Aristotle Capital Management LLC owned approximately 1.21% of U.S. Bancorp worth $975,047,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in USB. Clayton Financial Group LLC purchased a new stake in U.S. Bancorp during the 4th quarter worth about $25,000. Financial Life Planners bought a new stake in U.S. Bancorp during the 1st quarter worth approximately $27,000. Main Street Group LTD purchased a new stake in U.S. Bancorp in the 1st quarter worth approximately $28,000. JPL Wealth Management LLC purchased a new position in shares of U.S. Bancorp during the 3rd quarter valued at $28,000. Finally, Binnacle Investments Inc grew its position in shares of U.S. Bancorp by 77.8% during the 3rd quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 273 shares in the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other U.S. Bancorp news, EVP Venkatachari Dilip sold 34,522 shares of the company's stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total value of $1,916,661.44. Following the sale, the executive vice president owned 51,292 shares in the company, valued at approximately $2,847,731.84. This represents a 40.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.21% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

USB has been the topic of several recent analyst reports. Evercore raised U.S. Bancorp from an "in-line" rating to an "outperform" rating and set a $72.00 price target on the stock in a report on Monday, July 20th. BTIG Research set a $67.50 price objective on shares of U.S. Bancorp in a research report on Monday. Morgan Stanley raised their target price on shares of U.S. Bancorp from $64.00 to $67.00 and gave the company an "equal weight" rating in a research note on Monday, June 29th. Barclays lifted their target price on shares of U.S. Bancorp from $67.00 to $75.00 and gave the company an "overweight" rating in a research report on Friday, July 17th. Finally, Keefe, Bruyette & Woods increased 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. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $67.00.

U.S. Bancorp Stock Up 0.9%

NYSE USB opened at $63.91 on Friday. U.S. Bancorp has a 1 year low of $43.46 and a 1 year high of $64.84. The stock has a market capitalization of $99.14 billion, a PE ratio of 12.76, a PEG ratio of 1.04 and a beta of 0.96. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.83 and a quick ratio of 0.82. The business's 50-day moving average is $58.89 and its 200 day moving average is $56.42.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.35 EPS for the quarter, beating analysts' consensus estimates of $1.28 by $0.07. U.S. Bancorp had a return on equity of 13.69% and a net margin of 18.49%.The business had revenue of $7.71 billion during the quarter, compared to analyst estimates of $7.58 billion. During the same quarter in the prior year, the company posted $1.11 EPS. Sell-side analysts forecast that U.S. Bancorp will post 5.22 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a dividend of $0.52 per share. The ex-dividend date was Tuesday, June 30th. This represents a $2.08 annualized dividend and a dividend yield of 3.3%. U.S. Bancorp's payout ratio is currently 41.52%.

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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