Kingsview Wealth Management LLC Lowers Position in U.S. Bancorp (NYSE:USB)

Kingsview Wealth Management LLC cut its position in shares of U.S. Bancorp (NYSE:USB - Free Report) by 25.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 61,182 shares of the financial services provider's stock after selling 20,863 shares during the quarter. Kingsview Wealth Management LLC's holdings in U.S. Bancorp were worth $2,583,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FIL Ltd lifted its holdings 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 buying an additional 8,542 shares in the last quarter. Wesbanco Bank Inc. grew its position in shares of U.S. Bancorp by 31.6% during the 1st quarter. Wesbanco Bank Inc. now owns 325,056 shares of the financial services provider's stock valued at $13,724,000 after buying an additional 78,146 shares during the last quarter. Vanguard Group Inc. grew its position in shares of U.S. Bancorp by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 138,836,896 shares of the financial services provider's stock valued at $6,640,569,000 after buying an additional 1,079,056 shares during the last quarter. Becker Capital Management Inc. grew its position in shares of U.S. Bancorp by 1.5% during 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. Finally, United Community Bank grew its position in shares of U.S. Bancorp by 21.8% during the 1st quarter. United Community Bank now owns 49,066 shares of the financial services provider's stock valued at $2,072,000 after buying an additional 8,796 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. reaffirmed an "underweight" rating and issued a $43.50 price target (down from $51.00) on shares of U.S. Bancorp in a research note on Thursday, April 3rd. Evercore ISI upped their price target on shares of U.S. Bancorp from $44.00 to $49.00 and gave the stock an "in-line" rating in a research note on Wednesday, June 4th. Oppenheimer upped their price target on shares of U.S. Bancorp from $65.00 to $66.00 and gave the stock an "outperform" rating in a research note on Friday. Wolfe Research raised shares of U.S. Bancorp from a "peer perform" rating to an "outperform" rating and set a $49.00 price target for the company in a research note on Thursday, April 3rd. Finally, Cowen assumed coverage on shares of U.S. Bancorp in a research note on Wednesday, May 14th. They set a "buy" rating for the company. One research 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $52.36.

Insider Buying and Selling

In related news, Director Aleem Gillani bought 5,000 shares of U.S. Bancorp stock in a transaction that occurred on Monday, April 21st. The shares were acquired at an average cost of $37.32 per share, for a total transaction of $186,600.00. Following the completion of the acquisition, the director directly owned 15,000 shares of the company's stock, valued at approximately $559,800. The trade was a 50.00% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.23% of the company's stock.

U.S. Bancorp Stock Performance

USB stock traded up $0.51 during midday trading on Friday, reaching $45.72. 15,539,613 shares of the company were exchanged, compared to its average volume of 9,483,789. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.81 and a quick ratio of 0.80. The business has a 50-day moving average price of $44.82 and a two-hundred day moving average price of $44.27. U.S. Bancorp has a one year low of $35.18 and a one year high of $53.98. The firm has a market capitalization of $71.23 billion, a price-to-earnings ratio of 10.94, a price-to-earnings-growth ratio of 1.75 and a beta of 0.99.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its 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. U.S. Bancorp had a net margin of 16.30% and a return on equity of 13.08%. The company had revenue of $7.06 billion during the quarter, compared to analysts' expectations of $7.07 billion. During the same quarter in the previous year, the business posted $0.98 earnings per share. U.S. Bancorp's quarterly revenue was up 2.0% on a year-over-year basis. Equities research analysts forecast that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.37%. The ex-dividend date was Monday, June 30th. U.S. Bancorp's payout ratio is 47.85%.

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.