Envestnet Asset Management Inc. Cuts Stock Position in U.S. Bancorp (NYSE:USB)

Envestnet Asset Management Inc. lessened its position in U.S. Bancorp (NYSE:USB - Free Report) by 10.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,221,567 shares of the financial services provider's stock after selling 876,407 shares during the period. Envestnet Asset Management Inc. owned about 0.46% of U.S. Bancorp worth $304,895,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Covestor Ltd lifted its position in U.S. Bancorp by 12.3% during the fourth quarter. Covestor Ltd now owns 1,955 shares of the financial services provider's stock valued at $94,000 after purchasing an additional 214 shares during the period. TrinityPoint Wealth LLC lifted its position in U.S. Bancorp by 2.3% during the fourth quarter. TrinityPoint Wealth LLC now owns 10,355 shares of the financial services provider's stock valued at $495,000 after purchasing an additional 231 shares during the last quarter. CoreCap Advisors LLC lifted its position in U.S. Bancorp by 36.6% during the fourth quarter. CoreCap Advisors LLC now owns 904 shares of the financial services provider's stock valued at $43,000 after purchasing an additional 242 shares during the last quarter. Bestgate Wealth Advisors LLC lifted its position in U.S. Bancorp by 3.3% during the first quarter. Bestgate Wealth Advisors LLC now owns 8,031 shares of the financial services provider's stock valued at $339,000 after purchasing an additional 253 shares during the last quarter. Finally, Aaron Wealth Advisors LLC lifted its position in U.S. Bancorp by 3.3% during the first quarter. Aaron Wealth Advisors LLC now owns 8,190 shares of the financial services provider's stock valued at $346,000 after purchasing an additional 262 shares during the last quarter. Institutional investors own 77.60% of the company's stock.

U.S. Bancorp Stock Up 0.7%

NYSE USB traded up $0.32 during trading on Thursday, reaching $47.62. 5,242,876 shares of the company's stock traded hands, compared to its average volume of 10,686,378. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a market cap of $74.19 billion, a price-to-earnings ratio of 11.79, a price-to-earnings-growth ratio of 1.79 and a beta of 0.99. The company's 50 day simple moving average is $44.13 and its two-hundred day simple moving average is $44.40. U.S. Bancorp has a 12-month low of $35.18 and a 12-month high of $53.98.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its earnings results on Wednesday, April 16th. The financial services provider reported $1.03 EPS for the quarter, beating analysts' consensus estimates of $0.97 by $0.06. The business had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $6.92 billion. U.S. Bancorp had a net margin of 15.70% and a return on equity of 13.02%. During the same quarter last year, the firm posted $0.78 EPS. As a group, sell-side analysts forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date is Monday, June 30th. U.S. Bancorp's payout ratio is currently 49.50%.

Insider Activity

In other news, Director Aleem Gillani acquired 5,000 shares of the business's stock in a transaction dated Monday, April 21st. The shares were purchased at an average price of $37.32 per share, with a total value of $186,600.00. Following the transaction, the director directly owned 15,000 shares in the company, valued at approximately $559,800. This represents a 50.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.23% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Wolfe Research upgraded shares of U.S. Bancorp from a "peer perform" rating to an "outperform" rating and set a $49.00 price objective for the company in a research report on Thursday, April 3rd. Morgan Stanley increased their price objective on shares of U.S. Bancorp from $50.00 to $51.00 and gave the company an "overweight" rating in a research report on Thursday, July 3rd. The Goldman Sachs Group raised their target price on shares of U.S. Bancorp from $41.00 to $46.00 and gave the stock a "neutral" rating in a report on Tuesday, June 10th. Barclays lowered their target price on shares of U.S. Bancorp from $61.00 to $56.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Finally, Wall Street Zen lowered shares of U.S. Bancorp from a "hold" rating to a "sell" rating in a report on Saturday, June 7th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $51.70.

About U.S. Bancorp

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.