Nuveen Asset Management LLC Sells 58,203 Shares of U.S. Bancorp (NYSE:USB)

Nuveen Asset Management LLC reduced its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 1.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 3,252,234 shares of the financial services provider's stock after selling 58,203 shares during the period. Nuveen Asset Management LLC owned about 0.21% of U.S. Bancorp worth $155,554,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in USB. Capital Investment Advisors LLC increased its holdings in U.S. Bancorp by 18.9% during the 4th quarter. Capital Investment Advisors LLC now owns 7,149 shares of the financial services provider's stock worth $342,000 after purchasing an additional 1,135 shares in the last quarter. Miracle Mile Advisors LLC increased its holdings in U.S. Bancorp by 96.6% during the 4th quarter. Miracle Mile Advisors LLC now owns 15,531 shares of the financial services provider's stock worth $743,000 after purchasing an additional 7,633 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in U.S. Bancorp during the 4th quarter worth approximately $38,000. Accurate Wealth Management LLC increased its holdings in U.S. Bancorp by 7.1% during the 4th quarter. Accurate Wealth Management LLC now owns 9,932 shares of the financial services provider's stock worth $471,000 after purchasing an additional 662 shares in the last quarter. Finally, SeaCrest Wealth Management LLC increased its holdings in U.S. Bancorp by 5.8% during the 4th quarter. SeaCrest Wealth Management LLC now owns 12,182 shares of the financial services provider's stock worth $583,000 after purchasing an additional 668 shares in the last quarter. 77.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

USB has been the topic of a number of research analyst reports. Royal Bank of Canada cut their target price on U.S. Bancorp from $57.00 to $50.00 and set an "outperform" rating on the stock in a research note on Thursday, April 17th. TD Cowen initiated coverage on U.S. Bancorp in a research note on Thursday. They issued a "buy" rating and a $60.00 target price on the stock. JPMorgan Chase & Co. restated an "underweight" rating and issued a $43.50 target price (down previously from $51.00) on shares of U.S. Bancorp in a research note on Thursday, April 3rd. Raymond James restated an "outperform" rating and issued a $51.00 target price (down previously from $57.00) on shares of U.S. Bancorp in a research note on Thursday, April 17th. Finally, Citigroup cut their target price on U.S. Bancorp from $65.00 to $55.00 and set a "buy" rating on the stock in a research note on Monday, March 24th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, U.S. Bancorp has a consensus rating of "Moderate Buy" and an average target price of $50.89.

Insiders Place Their Bets

In other news, Director Aleem Gillani purchased 5,000 shares of the firm's stock in a transaction dated Monday, April 21st. The shares were purchased at an average price of $37.32 per share, with a total value of $186,600.00. Following the completion of the acquisition, the director now owns 15,000 shares in the company, valued at $559,800. This trade represents a 50.00% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.23% of the company's stock.

U.S. Bancorp Stock Performance

Shares of NYSE:USB traded up $0.34 during trading on Friday, hitting $44.92. 7,369,199 shares of the company were exchanged, compared to its average volume of 9,125,737. The company has a market cap of $69.98 billion, a PE ratio of 11.85, a P/E/G ratio of 1.73 and a beta of 0.97. The stock has a 50 day moving average of $40.79 and a 200 day moving average of $46.00. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $53.98. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.80.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its earnings results on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.06. The firm had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $6.92 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. During the same quarter in the prior year, the business posted $0.78 earnings per share. As a group, equities research analysts predict that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a dividend of $0.50 per share. The ex-dividend date was Monday, March 31st. This represents a $2.00 annualized dividend and a dividend yield of 4.45%. U.S. Bancorp's dividend payout ratio is currently 49.50%.

U.S. Bancorp Company 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.