U.S. Bancorp (NYSE:USB) Stock Position Lowered by Invesco Ltd.

Key Points

• Invesco Ltd. has reduced its position in U.S. Bancorp by 1.5%, owning approximately 16.5 million shares worth $697.8 million after selling 259,647 shares in the first quarter.
• Multiple institutional investors, including Vanguard and Northern Trust, have increased their stakes in U.S. Bancorp, collectively owning 77.6% of the company's stock.
• U.S. Bancorp reported an earnings per share (EPS) of $1.11 for the latest quarter, surpassing estimates, with a quarterly dividend of $0.50 issued to shareholders.

Invesco Ltd. lessened its position in U.S. Bancorp (NYSE:USB - Free Report) by 1.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,527,866 shares of the financial services provider's stock after selling 259,647 shares during the period. Invesco Ltd. owned approximately 1.06% of U.S. Bancorp worth $697,807,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of U.S. Bancorp by 1.7% during the first quarter. Vanguard Group Inc. now owns 141,230,279 shares of the financial services provider's stock worth $5,962,742,000 after purchasing an additional 2,393,383 shares during the period. Northern Trust Corp raised its position in shares of U.S. Bancorp by 10.9% during the fourth quarter. Northern Trust Corp now owns 17,050,568 shares of the financial services provider's stock worth $815,529,000 after purchasing an additional 1,670,305 shares during the period. Davis Selected Advisers raised its position in shares of U.S. Bancorp by 3.6% during the first quarter. Davis Selected Advisers now owns 14,889,014 shares of the financial services provider's stock worth $628,614,000 after purchasing an additional 513,875 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of U.S. Bancorp by 11.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,574,919 shares of the financial services provider's stock worth $601,458,000 after purchasing an additional 1,339,493 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in shares of U.S. Bancorp by 10.5% during the first quarter. Goldman Sachs Group Inc. now owns 11,012,635 shares of the financial services provider's stock worth $464,953,000 after purchasing an additional 1,045,509 shares during the period. Institutional investors own 77.60% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on USB shares. TD Cowen started coverage on U.S. Bancorp in a research report on Thursday, May 15th. They set a "buy" rating and a $60.00 target price on the stock. Royal Bank Of Canada lowered their price target on U.S. Bancorp from $57.00 to $50.00 and set an "outperform" rating on the stock in a report on Thursday, April 17th. Wall Street Zen upgraded U.S. Bancorp from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Cowen assumed coverage on U.S. Bancorp in a report on Wednesday, May 14th. They set a "buy" rating on the stock. Finally, Oppenheimer lifted their price target on U.S. Bancorp from $66.00 to $67.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. One analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, U.S. Bancorp has a consensus rating of "Moderate Buy" and a consensus price target of $52.55.

U.S. Bancorp Trading Up 1.7%

Shares of U.S. Bancorp stock opened at $44.86 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.16. U.S. Bancorp has a 12-month low of $35.18 and a 12-month high of $53.98. The firm has a market capitalization of $69.89 billion, a price-to-earnings ratio of 10.73, a PEG ratio of 1.41 and a beta of 1.01. The firm's 50 day simple moving average is $45.27 and its two-hundred day simple moving average is $43.93.

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

U.S. Bancorp Dividend Announcement

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

Insider Activity at U.S. Bancorp

In other news, EVP Souheil Badran sold 23,727 shares of the company's stock in a transaction on Monday, July 21st. The shares were sold at an average price of $46.34, for a total value of $1,099,509.18. Following the sale, the executive vice president directly owned 70,346 shares of the company's stock, valued at $3,259,833.64. This represents a 25.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.23% of the stock is owned by company insiders.

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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