Western Wealth Management LLC Has $1.44 Million Holdings in U.S. Bancorp (NYSE:USB)

Western Wealth Management LLC grew its position in U.S. Bancorp (NYSE:USB) by 1.7% in the second quarter, HoldingsChannel.com reports. The fund owned 36,311 shares of the financial services provider’s stock after buying an additional 607 shares during the quarter. Western Wealth Management LLC’s holdings in U.S. Bancorp were worth $1,442,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of USB. Vanguard Group Inc. grew its holdings in shares of U.S. Bancorp by 0.4% during the first quarter. Vanguard Group Inc. now owns 135,371,282 shares of the financial services provider’s stock worth $6,051,096,000 after purchasing an additional 502,776 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in U.S. Bancorp by 8.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 33,719,110 shares of the financial services provider’s stock worth $1,459,363,000 after acquiring an additional 2,598,163 shares during the last quarter. Norges Bank acquired a new stake in U.S. Bancorp in the 4th quarter valued at about $827,370,000. Van ECK Associates Corp raised its stake in shares of U.S. Bancorp by 3.0% in the first quarter. Van ECK Associates Corp now owns 9,207,376 shares of the financial services provider’s stock worth $411,570,000 after acquiring an additional 265,734 shares during the last quarter. Finally, First Eagle Investment Management LLC lifted its position in shares of U.S. Bancorp by 0.3% during the first quarter. First Eagle Investment Management LLC now owns 8,921,691 shares of the financial services provider’s stock worth $398,800,000 after purchasing an additional 23,826 shares in the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other U.S. Bancorp news, Director Aleem Gillani purchased 10,000 shares of the stock in a transaction on Thursday, July 18th. The shares were purchased at an average price of $44.99 per share, with a total value of $449,900.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at $449,900. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.23% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on USB shares. The Goldman Sachs Group raised their price target on shares of U.S. Bancorp from $42.00 to $47.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. Wells Fargo & Company upped their price target on U.S. Bancorp from $48.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday, July 18th. JPMorgan Chase & Co. cut U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price objective for the company. in a report on Thursday, June 27th. Morgan Stanley lifted their price target on shares of U.S. Bancorp from $47.00 to $54.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. Finally, Citigroup lifted their target price on shares of U.S. Bancorp from $45.00 to $49.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Thirteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $48.23.

U.S. Bancorp Stock Up 0.6 %

U.S. Bancorp stock traded up $0.28 during midday trading on Monday, reaching $43.47. The stock had a trading volume of 714,115 shares, compared to its average volume of 8,456,933. The stock has a market capitalization of $67.83 billion, a P/E ratio of 14.30, a price-to-earnings-growth 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 firm’s fifty day simple moving average is $41.59 and its 200-day simple moving average is $41.58. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.80 and a current ratio of 0.81.

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

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were paid a dividend of $0.49 per share. The ex-dividend date was Friday, June 28th. This represents a $1.96 annualized dividend and a dividend yield of 4.51%. U.S. Bancorp’s dividend payout ratio is presently 64.90%.

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.