Envestnet Portfolio Solutions Inc. Lowers Holdings in U.S. Bancorp (NYSE:USB)

Envestnet Portfolio Solutions Inc. lessened its position in shares of U.S. Bancorp (NYSE:USB - Free Report) by 36.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 198,712 shares of the financial services provider's stock after selling 115,313 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in U.S. Bancorp were worth $8,390,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Sterling Investment Counsel LLC grew its position in U.S. Bancorp by 5.0% during the 1st quarter. Sterling Investment Counsel LLC now owns 8,317 shares of the financial services provider's stock worth $351,000 after purchasing an additional 393 shares during the last quarter. TCI Wealth Advisors Inc. grew its holdings in shares of U.S. Bancorp by 13.5% during the first quarter. TCI Wealth Advisors Inc. now owns 6,636 shares of the financial services provider's stock worth $280,000 after buying an additional 791 shares during the last quarter. Boston Trust Walden Corp increased its position in U.S. Bancorp by 38.4% in the 1st quarter. Boston Trust Walden Corp now owns 255,996 shares of the financial services provider's stock valued at $10,808,000 after acquiring an additional 70,967 shares during the period. Centennial Wealth Advisory LLC raised its stake in U.S. Bancorp by 22.7% during the 1st quarter. Centennial Wealth Advisory LLC now owns 15,179 shares of the financial services provider's stock valued at $641,000 after acquiring an additional 2,809 shares during the last quarter. Finally, HFG Advisors Inc. acquired a new stake in U.S. Bancorp during the 1st quarter worth approximately $910,000. Institutional investors and hedge funds own 77.60% of the company's stock.

Insider Activity

In other news, Director Aleem Gillani bought 5,000 shares of the stock in a transaction on Monday, April 21st. The stock was purchased at an average cost of $37.32 per share, with a total value of $186,600.00. Following the purchase, the director now owns 15,000 shares of the company's stock, valued at approximately $559,800. The trade was a 50.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.23% of the company's stock.

U.S. Bancorp Price Performance

NYSE:USB traded up $0.07 during trading hours on Friday, reaching $43.34. 21,354,696 shares of the company traded hands, compared to its average volume of 9,171,085. 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's 50-day moving average is $42.25 and its 200-day moving average is $44.73. The stock has a market cap of $67.53 billion, a P/E ratio of 10.73, a P/E/G ratio of 1.63 and a beta of 0.99. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $53.98.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $1.03 EPS for the quarter, topping analysts' consensus estimates of $0.97 by $0.06. U.S. Bancorp had a return on equity of 13.02% and a net margin of 15.70%. The firm had revenue of $6.96 billion during the quarter, compared to analysts' expectations of $6.92 billion. During the same quarter last year, the business posted $0.78 EPS. Equities research analysts expect 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 declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.61%. U.S. Bancorp's dividend payout ratio (DPR) is presently 49.50%.

Analyst Ratings Changes

USB has been the subject of several recent analyst reports. Keefe, Bruyette & Woods reduced their target price on shares of U.S. Bancorp from $54.00 to $49.00 and set a "market perform" rating for the company in a research note on Thursday, April 17th. Wall Street Zen downgraded shares of U.S. Bancorp from a "hold" rating to a "sell" rating in a research report on Saturday, June 7th. The Goldman Sachs Group boosted their target price on U.S. Bancorp from $41.00 to $46.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 10th. Raymond James Financial reissued an "outperform" rating and set a $51.00 target price (down from $57.00) on shares of U.S. Bancorp in a research note on Thursday, April 17th. Finally, Wolfe Research upgraded U.S. Bancorp from a "peer perform" rating to an "outperform" rating and set a $49.00 price target on the stock in a research note on Thursday, April 3rd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $50.72.

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.