Wealthfront Advisers LLC Sells 16,663 Shares of U.S. Bancorp $USB

Wealthfront Advisers LLC lowered its stake in shares of U.S. Bancorp (NYSE:USB) by 5.6% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 281,225 shares of the financial services provider’s stock after selling 16,663 shares during the period. Wealthfront Advisers LLC’s holdings in U.S. Bancorp were worth $13,592,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Guerra Advisors Inc bought a new stake in shares of U.S. Bancorp in the 3rd quarter worth approximately $25,000. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of U.S. Bancorp during the third quarter valued at approximately $26,000. IMG Wealth Management Inc. acquired a new position in shares of U.S. Bancorp in the second quarter valued at $25,000. Hillsdale Investment Management Inc. acquired a new position in shares of U.S. Bancorp in the second quarter valued at $27,000. Finally, Steigerwald Gordon & Koch Inc. bought a new position in U.S. Bancorp in the third quarter worth $31,000. 77.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on USB. Argus increased their price objective on shares of U.S. Bancorp from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. Royal Bank Of Canada upped their target price on shares of U.S. Bancorp from $57.00 to $59.00 and gave the company an “outperform” rating in a research note on Wednesday, January 21st. Keefe, Bruyette & Woods raised their price target on shares of U.S. Bancorp from $58.00 to $59.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 21st. Oppenheimer upped their price objective on U.S. Bancorp from $75.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, January 21st. Finally, JPMorgan Chase & Co. increased their target price on U.S. Bancorp from $55.50 to $62.00 and gave the stock an “underweight” rating in a report on Monday. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $59.79.

U.S. Bancorp Stock Up 0.4%

Shares of USB opened at $60.60 on Wednesday. The company has a market capitalization of $94.20 billion, a P/E ratio of 13.12, a PEG ratio of 1.08 and a beta of 1.06. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. U.S. Bancorp has a one year low of $35.18 and a one year high of $60.99. The business’s 50 day simple moving average is $55.01 and its 200-day simple moving average is $50.11.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Tuesday, January 20th. The financial services provider reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.07. The firm had revenue of $7.92 billion during the quarter, compared to analysts’ expectations of $7.31 billion. U.S. Bancorp had a return on equity of 13.48% and a net margin of 17.66%.The business’s revenue was up 5.1% on a year-over-year basis. During the same period last year, the firm posted $1.07 EPS. As a group, sell-side analysts predict that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Wednesday, December 31st. U.S. Bancorp’s payout ratio is currently 45.02%.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, insider Mark G. Runkel sold 32,195 shares of the stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $60.65, for a total transaction of $1,952,626.75. Following the sale, the insider owned 97,728 shares of the company’s stock, valued at $5,927,203.20. This represents a 24.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.23% of the stock is currently owned by company 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.