Wedbush Securities Inc. Sells 10,499 Shares of U.S. Bancorp (NYSE:USB)

Wedbush Securities Inc. cut its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 18.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 47,336 shares of the financial services provider's stock after selling 10,499 shares during the quarter. Wedbush Securities Inc.'s holdings in U.S. Bancorp were worth $1,999,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC boosted its position in shares of U.S. Bancorp by 323.0% during the 4th quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider's stock worth $2,309,000 after acquiring an additional 36,863 shares in the last quarter. Virtu Financial LLC acquired a new stake in U.S. Bancorp in the fourth quarter valued at approximately $288,000. CoreFirst Bank & Trust acquired a new stake in U.S. Bancorp in the fourth quarter valued at approximately $86,000. Modern Wealth Management LLC acquired a new stake in U.S. Bancorp in the fourth quarter valued at approximately $926,000. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its position in U.S. Bancorp by 9.3% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 791,084 shares of the financial services provider's stock valued at $37,838,000 after buying an additional 67,011 shares in the last quarter. 77.60% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other U.S. Bancorp news, EVP Souheil Badran sold 23,727 shares of U.S. Bancorp 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 completion of the sale, the executive vice president directly owned 70,346 shares of the company's stock, valued at approximately $3,259,833.64. The trade was a 25.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.23% of the company's stock.

U.S. Bancorp Trading Down 0.4%

NYSE USB traded down $0.20 during mid-day trading on Thursday, reaching $46.09. 9,024,771 shares of the stock were exchanged, compared to its average volume of 13,071,279. U.S. Bancorp has a one year low of $35.18 and a one year high of $53.98. The stock has a 50 day simple moving average of $44.96 and a 200-day simple moving average of $44.24. The stock has a market cap of $71.82 billion, a P/E ratio of 11.03, a P/E/G ratio of 1.46 and a beta of 0.99. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.81 and a quick ratio of 0.81.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The financial services provider reported $1.11 earnings per share for the quarter, beating 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 firm had revenue of $7.06 billion during the quarter, compared to the consensus estimate of $7.07 billion. During the same period in the previous year, the firm posted $0.98 earnings per share. The business's revenue was up 2.0% compared to the same quarter last year. On average, analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.34%. The ex-dividend date of this dividend was Monday, June 30th. U.S. Bancorp's dividend payout ratio (DPR) is currently 47.85%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Barclays cut their target price on shares of U.S. Bancorp from $61.00 to $56.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Morgan Stanley raised their target price on shares of U.S. Bancorp from $51.00 to $52.00 and gave the company an "overweight" rating in a research report on Friday, July 18th. Raymond James Financial upgraded shares of U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and raised their target price for the company from $51.00 to $57.00 in a research report on Monday, July 7th. Oppenheimer raised their target price on shares of U.S. Bancorp from $65.00 to $66.00 and gave the company an "outperform" rating in a research report on Friday, July 18th. Finally, Wall Street Zen upgraded shares of U.S. Bancorp from a "sell" rating to a "hold" rating in a report on Friday, July 18th. One equities 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 given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $52.50.

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.