U.S. Bancorp (NYSE:USB) Position Cut by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. trimmed its holdings in U.S. Bancorp (NYSE:USB) by 8.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 311,944 shares of the financial services provider’s stock after selling 27,817 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in U.S. Bancorp were worth $12,384,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Naples Money Management LLC acquired a new stake in U.S. Bancorp in the fourth quarter worth approximately $30,000. Financial Synergies Wealth Advisors Inc. acquired a new stake in U.S. Bancorp in the first quarter worth approximately $30,000. Eagle Bay Advisors LLC lifted its position in U.S. Bancorp by 93.2% in the first quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 331 shares during the period. LRI Investments LLC acquired a new stake in U.S. Bancorp in the first quarter worth approximately $31,000. Finally, Crewe Advisors LLC acquired a new stake in U.S. Bancorp in the first quarter worth approximately $39,000. 77.60% of the stock is owned by institutional investors.

U.S. Bancorp Stock Up 1.7 %

U.S. Bancorp stock traded up $0.73 during mid-day trading on Thursday, hitting $43.07. 2,083,850 shares of the company’s stock were exchanged, compared to its average volume of 8,496,738. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.05. The stock has a market cap of $67.21 billion, a P/E ratio of 14.02, a P/E/G ratio of 4.20 and a beta of 1.04. U.S. Bancorp has a 1-year low of $30.47 and a 1-year high of $45.88. The stock has a 50 day moving average of $41.43 and a two-hundred day moving average of $41.58.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.04. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The company had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.81 billion. During the same period in the prior year, the company earned $1.12 earnings per share. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. As a group, analysts anticipate that U.S. Bancorp will post 3.9 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 4.55%. The ex-dividend date was Friday, June 28th. U.S. Bancorp’s dividend payout ratio (DPR) is 64.90%.

Insider Buying and Selling at U.S. Bancorp

In other news, Director Aleem Gillani purchased 10,000 shares of the firm’s stock in a transaction on Thursday, July 18th. The stock was bought at an average cost of $44.99 per share, for a total transaction of $449,900.00. Following the completion of the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at $449,900. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.23% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Royal Bank of Canada increased their price objective on U.S. Bancorp from $47.00 to $48.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. Morgan Stanley increased their price objective on U.S. Bancorp from $47.00 to $54.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. Evercore ISI increased their price objective on U.S. Bancorp from $45.00 to $48.00 and gave the company an “in-line” rating in a research report on Tuesday, June 25th. Citigroup increased their price objective on U.S. Bancorp from $45.00 to $49.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. Finally, Wells Fargo & Company increased their price objective on U.S. Bancorp from $48.00 to $52.00 and gave the company an “overweight” rating in a research report on Thursday, July 18th. Thirteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $48.23.

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.