Weaver Capital Management LLC Reduces Stock Position in U.S. Bancorp (NYSE:USB)

Weaver Capital Management LLC lowered its stake in shares of U.S. Bancorp (NYSE:USB) by 2.4% during the 1st quarter, HoldingsChannel reports. The fund owned 31,456 shares of the financial services provider’s stock after selling 763 shares during the period. Weaver Capital Management LLC’s holdings in U.S. Bancorp were worth $1,328,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of U.S. Bancorp by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 138,836,896 shares of the financial services provider’s stock worth $6,640,569,000 after acquiring an additional 1,079,056 shares in the last quarter. FMR LLC raised its position in shares of U.S. Bancorp by 5.0% in the fourth quarter. FMR LLC now owns 67,125,746 shares of the financial services provider’s stock worth $3,210,624,000 after buying an additional 3,211,815 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of U.S. Bancorp by 5.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 49,789,725 shares of the financial services provider’s stock worth $2,381,443,000 after buying an additional 2,460,845 shares in the last quarter. Geode Capital Management LLC raised its position in shares of U.S. Bancorp by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 33,937,360 shares of the financial services provider’s stock worth $1,618,948,000 after buying an additional 850,763 shares in the last quarter. Finally, Amundi raised its position in shares of U.S. Bancorp by 7.4% in the fourth quarter. Amundi now owns 19,485,615 shares of the financial services provider’s stock worth $945,268,000 after buying an additional 1,341,407 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Evercore ISI increased their price objective on U.S. Bancorp from $44.00 to $49.00 and gave the stock an “in-line” rating in a research report on Wednesday, June 4th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $43.50 price objective (down previously from $51.00) on shares of U.S. Bancorp in a research report on Thursday, April 3rd. Morgan Stanley lowered their price objective on U.S. Bancorp from $51.00 to $50.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. Wall Street Zen downgraded U.S. Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, June 7th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $51.00 price objective (down previously from $57.00) on shares of U.S. Bancorp in a research report on Thursday, April 17th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, U.S. Bancorp has an average rating of “Moderate Buy” and a consensus price target of $50.72.

U.S. Bancorp Stock Up 0.2%

USB opened at $43.34 on Friday. The company has a market cap of $67.53 billion, a P/E ratio of 10.73, a P/E/G ratio of 1.62 and a beta of 0.99. The business’s 50-day moving average price is $42.25 and its 200-day moving average price is $44.78. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $53.98.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $1.03 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 13.02% and a net margin of 15.70%. During the same quarter in the previous year, the business earned $0.78 earnings per share. On average, equities analysts expect that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.00 annualized dividend and a dividend yield of 4.61%. U.S. Bancorp’s dividend payout ratio is currently 49.50%.

Insider Transactions at U.S. Bancorp

In related news, Director Aleem Gillani acquired 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, for a total transaction of $186,600.00. Following the completion of the acquisition, the director now owns 15,000 shares in the company, valued at approximately $559,800. This represents a 50.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.23% of the company’s stock.

U.S. Bancorp 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.