U.S. Bancorp $USB Shares Sold by Wesbanco Bank Inc.

Key Points

• Wesbanco Bank trimmed its U.S. Bancorp stake by 5.5% in the fourth quarter, selling 18,624 shares and ending with 322,368 shares worth about $17.2 million.
• U.S. Bancorp reported better-than-expected quarterly results, with earnings of $1.18 per share versus $1.14 expected and revenue of $7.32 billion, up 4.7% year over year.
• The bank also paid a quarterly dividend of $0.52 per share, equal to a 3.7% annualized yield, while analysts currently rate the stock a Moderate Buy with an average price target of $61.20.

Wesbanco Bank Inc. lessened its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 5.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 322,368 shares of the financial services provider's stock after selling 18,624 shares during the period. Wesbanco Bank Inc.'s holdings in U.S. Bancorp were worth $17,202,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Citigroup Inc. grew its stake in shares of U.S. Bancorp by 2.4% in the 3rd quarter. Citigroup Inc. now owns 1,749,812 shares of the financial services provider's stock valued at $84,568,000 after purchasing an additional 41,803 shares during the last quarter. Jones Financial Companies Lllp grew its stake in shares of U.S. Bancorp by 15.3% in the 3rd quarter. Jones Financial Companies Lllp now owns 358,972 shares of the financial services provider's stock valued at $17,738,000 after purchasing an additional 47,537 shares during the last quarter. Danske Bank A S purchased a new position in shares of U.S. Bancorp in the 3rd quarter valued at approximately $37,162,000. Roman Butler Fullerton & Co. purchased a new position in shares of U.S. Bancorp in the 3rd quarter valued at approximately $893,000. Finally, Nordea Investment Management AB grew its stake in shares of U.S. Bancorp by 15.3% in the 4th quarter. Nordea Investment Management AB now owns 2,690,174 shares of the financial services provider's stock valued at $144,462,000 after purchasing an additional 357,300 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company's stock.

U.S. Bancorp Price Performance

Shares of NYSE USB opened at $55.52 on Friday. The firm has a market capitalization of $86.18 billion, a P/E ratio of 11.64, a PEG ratio of 1.00 and a beta of 1.00. U.S. Bancorp has a one year low of $41.81 and a one year high of $61.19. The company's fifty day moving average is $54.05 and its two-hundred day moving average is $53.16. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.81 and a current ratio of 0.81.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its earnings results on Thursday, April 16th. The financial services provider reported $1.18 EPS for the quarter, topping the consensus estimate of $1.14 by $0.04. The company had revenue of $7.32 billion for the quarter, compared to analyst estimates of $7.27 billion. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. The business's revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.03 EPS. Analysts forecast that U.S. Bancorp will post 5.09 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Tuesday, March 31st. U.S. Bancorp's payout ratio is presently 43.61%.

Analysts Set New Price Targets

Several research analysts have weighed in on USB shares. Royal Bank Of Canada lifted their target price on U.S. Bancorp from $59.00 to $61.00 and gave the company an "outperform" rating in a research note on Friday, April 17th. Evercore increased their price target on shares of U.S. Bancorp from $60.00 to $65.00 and gave the stock an "in-line" rating in a report on Thursday, February 5th. Morgan Stanley set a $64.00 price target on shares of U.S. Bancorp in a report on Friday, April 17th. UBS Group reissued a "neutral" rating and set a $60.00 price target on shares of U.S. Bancorp in a report on Wednesday, February 4th. Finally, DA Davidson reissued a "buy" rating and set a $65.00 price target on shares of U.S. Bancorp in a report on Friday, April 17th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $61.20.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 40,000 shares of the business's stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the sale, the insider directly owned 207,251 shares in the company, valued at approximately $11,813,307. The trade was a 16.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Venkatachari Dilip sold 34,522 shares of the business's stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total value of $1,916,661.44. Following the sale, the executive vice president owned 51,292 shares in the company, valued at approximately $2,847,731.84. The trade was a 40.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is currently owned by insiders.

U.S. Bancorp Profile

U.S. Bancorp NYSE: USB is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.

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