U.S. Bancorp $USB Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp cut its stake in shares of U.S. Bancorp (NYSE:USB) by 4.2% in the 3rd quarter, Holdings Channel reports. The fund owned 8,462,146 shares of the financial services provider’s stock after selling 366,474 shares during the quarter. Van ECK Associates Corp’s holdings in U.S. Bancorp were worth $408,976,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in USB. Parcion Private Wealth LLC grew its stake in shares of U.S. Bancorp by 0.4% in the 3rd quarter. Parcion Private Wealth LLC now owns 53,412 shares of the financial services provider’s stock valued at $2,581,000 after purchasing an additional 218 shares during the last quarter. Modern Wealth Management LLC raised its stake in shares of U.S. Bancorp by 1.0% during the third quarter. Modern Wealth Management LLC now owns 22,493 shares of the financial services provider’s stock worth $1,087,000 after purchasing an additional 221 shares during the last quarter. Diversify Advisory Services LLC lifted its holdings in shares of U.S. Bancorp by 4.5% during the third quarter. Diversify Advisory Services LLC now owns 5,339 shares of the financial services provider’s stock worth $249,000 after purchasing an additional 232 shares during the period. Bogart Wealth LLC lifted its holdings in shares of U.S. Bancorp by 4.4% during the third quarter. Bogart Wealth LLC now owns 5,507 shares of the financial services provider’s stock worth $266,000 after purchasing an additional 234 shares during the period. Finally, Hoxton Planning & Management LLC grew its position in U.S. Bancorp by 3.4% in the 3rd quarter. Hoxton Planning & Management LLC now owns 7,021 shares of the financial services provider’s stock valued at $339,000 after buying an additional 234 shares during the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

U.S. Bancorp Stock Down 0.6%

Shares of NYSE USB opened at $52.08 on Tuesday. The stock has a market capitalization of $80.91 billion, a price-to-earnings ratio of 11.27, a price-to-earnings-growth ratio of 0.94 and a beta of 1.04. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $61.19. The firm has a 50-day moving average price of $56.02 and a 200 day moving average price of $51.53. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Tuesday, January 20th. The financial services provider reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.07. U.S. Bancorp had a net margin of 17.66% and a return on equity of 13.48%. The company had revenue of $7.92 billion for the quarter, compared to analyst estimates of $7.31 billion. During the same period in the prior year, the business posted $1.07 earnings per share. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. Equities research analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Evercore boosted their price objective on shares of U.S. Bancorp from $60.00 to $65.00 and gave the company an “in-line” rating in a research note on Thursday, February 5th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of U.S. Bancorp in a report on Wednesday, January 21st. Wolfe Research lowered shares of U.S. Bancorp from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 7th. Royal Bank Of Canada increased their price target on shares of U.S. Bancorp from $57.00 to $59.00 and gave the stock an “outperform” rating in a report on Wednesday, January 21st. Finally, Argus raised 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 report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $60.02.

Insider Activity at U.S. Bancorp

In other news, insider Mark G. Runkel sold 32,195 shares of the business’s stock in a transaction that occurred on Friday, February 6th. The stock was 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. The trade was a 24.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.23% of the stock is owned by company insiders.

U.S. Bancorp Company 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.