U.S. Bancorp (NYSE:USB) Holdings Cut by Philip James Wealth Mangement LLC

Philip James Wealth Mangement LLC cut its stake in U.S. Bancorp (NYSE:USB - Free Report) by 6.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 108,541 shares of the financial services provider's stock after selling 7,690 shares during the quarter. Philip James Wealth Mangement LLC's holdings in U.S. Bancorp were worth $4,583,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. FIL Ltd increased its position in U.S. Bancorp by 42.0% in the 4th quarter. FIL Ltd now owns 28,872 shares of the financial services provider's stock worth $1,381,000 after purchasing an additional 8,542 shares during the last quarter. Wesbanco Bank Inc. raised its position in U.S. Bancorp by 31.6% during the first quarter. Wesbanco Bank Inc. now owns 325,056 shares of the financial services provider's stock valued at $13,724,000 after acquiring an additional 78,146 shares in the last quarter. Vanguard Group Inc. lifted its stake in U.S. Bancorp by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 138,836,896 shares of the financial services provider's stock valued at $6,640,569,000 after acquiring an additional 1,079,056 shares during the last quarter. M&T Bank Corp boosted its stake in shares of U.S. Bancorp by 36.9% during the 4th quarter. M&T Bank Corp now owns 1,158,848 shares of the financial services provider's stock worth $55,427,000 after acquiring an additional 312,504 shares in the last quarter. Finally, Becker Capital Management Inc. grew its stake in U.S. Bancorp by 1.5% in the 4th quarter. Becker Capital Management Inc. now owns 560,095 shares of the financial services provider's stock valued at $27,069,000 after buying an additional 8,204 shares during the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

U.S. Bancorp Price Performance

USB opened at $45.64 on Friday. The company has a fifty day moving average price of $42.78 and a two-hundred day moving average price of $44.58. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a market capitalization of $71.11 billion, a PE ratio of 11.30, a P/E/G ratio of 1.69 and a beta of 0.99. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $53.98.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced 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. The business had revenue of $6.96 billion for the quarter, compared to analyst estimates 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 in the previous year, the firm posted $0.78 earnings per share. As a group, analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.00 annualized dividend and a yield of 4.38%. U.S. Bancorp's dividend payout ratio is currently 49.50%.

Insider Buying and Selling

In other news, Director Aleem Gillani purchased 5,000 shares of the business's stock in a transaction dated Monday, April 21st. The shares were purchased at an average cost of $37.32 per share, with a total value of $186,600.00. Following the completion of the purchase, the director now owns 15,000 shares of the company's stock, valued at $559,800. This trade represents a 50.00% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. 0.23% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

USB has been the subject of a number of research reports. Morgan Stanley reduced their price objective on U.S. Bancorp from $51.00 to $50.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. TD Cowen initiated coverage on U.S. Bancorp in a report on Thursday, May 15th. They set a "buy" rating and a $60.00 price objective on the stock. Cowen began coverage on U.S. Bancorp in a report on Wednesday, May 14th. They issued a "buy" rating for the company. Evercore ISI boosted their price target on U.S. Bancorp from $44.00 to $49.00 and gave the company an "in-line" rating in a research note on Wednesday, June 4th. Finally, JPMorgan Chase & Co. reiterated an "underweight" rating and set a $43.50 price objective (down from $51.00) on shares of U.S. Bancorp in a research note on Thursday, April 3rd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, 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.

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