Goldman Sachs Group Inc. Has $464.95 Million Stock Holdings in U.S. Bancorp (NYSE:USB)

Goldman Sachs Group Inc. increased its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 10.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 11,012,635 shares of the financial services provider's stock after buying an additional 1,045,509 shares during the period. Goldman Sachs Group Inc. owned 0.71% of U.S. Bancorp worth $464,953,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC increased its stake in shares of U.S. Bancorp by 323.0% during the fourth quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider's stock worth $2,309,000 after purchasing an additional 36,863 shares during the period. Shelton Capital Management increased its holdings in shares of U.S. Bancorp by 3.6% during the fourth quarter. Shelton Capital Management now owns 9,740 shares of the financial services provider's stock worth $466,000 after purchasing an additional 338 shares during the period. FIL Ltd raised its position in shares of U.S. Bancorp by 42.0% in the fourth quarter. FIL Ltd now owns 28,872 shares of the financial services provider's stock valued at $1,381,000 after buying an additional 8,542 shares in the last quarter. Bank of Nova Scotia boosted its stake in shares of U.S. Bancorp by 35.3% in the fourth quarter. Bank of Nova Scotia now owns 321,218 shares of the financial services provider's stock valued at $15,364,000 after buying an additional 83,725 shares during the period. Finally, Advisory Services Network LLC grew its position in U.S. Bancorp by 28.3% during the fourth quarter. Advisory Services Network LLC now owns 63,334 shares of the financial services provider's stock worth $3,029,000 after buying an additional 13,953 shares in the last quarter. Institutional investors own 77.60% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on USB shares. Wall Street Zen raised U.S. Bancorp from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Cowen began coverage on U.S. Bancorp in a research note on Wednesday, May 14th. They issued a "buy" rating for the company. Citigroup increased their price objective on shares of U.S. Bancorp from $55.00 to $59.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Wells Fargo & Company decreased their target price on shares of U.S. Bancorp from $56.00 to $50.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Finally, Keefe, Bruyette & Woods cut their price target on shares of U.S. Bancorp from $54.00 to $49.00 and set a "market perform" rating for the company in a report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, U.S. Bancorp currently has an average rating of "Moderate Buy" and an average target price of $52.55.

U.S. Bancorp Stock Performance

NYSE:USB opened at $44.11 on Friday. The stock's 50-day moving average is $45.25 and its 200-day moving average is $43.99. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $53.98. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.16. The stock has a market cap of $68.72 billion, a P/E ratio of 10.55, a price-to-earnings-growth ratio of 1.39 and a beta of 1.01.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its earnings results on Thursday, July 17th. The financial services provider reported $1.11 EPS for the quarter, topping the consensus estimate of $1.07 by $0.04. U.S. Bancorp had a net margin of 16.30% and a return on equity of 13.08%. The business had revenue of $7.06 billion for the quarter, compared to the consensus estimate of $7.07 billion. During the same period last year, the company earned $0.98 EPS. The firm's revenue was up 2.0% compared to the same quarter last year. Equities research analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $2.00 annualized dividend and a dividend yield of 4.5%. U.S. Bancorp's payout ratio is currently 47.85%.

Insider Buying and Selling at U.S. Bancorp

In related news, EVP Souheil Badran sold 23,727 shares of the stock in a transaction on Monday, July 21st. The stock was sold at an average price of $46.34, for a total value of $1,099,509.18. Following the completion of the sale, the executive vice president directly owned 70,346 shares in the company, valued at $3,259,833.64. This represents a 25.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.23% of the stock is currently owned by corporate insiders.

U.S. Bancorp 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.

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