MainStreet Investment Advisors LLC Sells 753 Shares of U.S. Bancorp (NYSE:USB)

MainStreet Investment Advisors LLC cut its stake in shares of U.S. Bancorp (NYSE:USB) by 0.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 104,245 shares of the financial services provider’s stock after selling 753 shares during the period. MainStreet Investment Advisors LLC’s holdings in U.S. Bancorp were worth $4,139,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in U.S. Bancorp by 0.4% in 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 buying an additional 502,776 shares during the last quarter. Norges Bank purchased a new stake in shares of U.S. Bancorp in the fourth quarter valued at $827,370,000. Bank of New York Mellon Corp raised its stake in shares of U.S. Bancorp by 0.7% in the second quarter. Bank of New York Mellon Corp now owns 13,312,930 shares of the financial services provider’s stock valued at $528,523,000 after acquiring an additional 94,841 shares during the period. Van ECK Associates Corp boosted its stake in shares of U.S. Bancorp by 2.9% during the 2nd quarter. Van ECK Associates Corp now owns 9,478,454 shares of the financial services provider’s stock worth $376,295,000 after purchasing an additional 271,078 shares during the period. Finally, First Eagle Investment Management LLC grew its holdings in U.S. Bancorp by 0.3% during the 1st quarter. First Eagle Investment Management LLC now owns 8,921,691 shares of the financial services provider’s stock valued at $398,800,000 after purchasing an additional 23,826 shares during the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Wall Street Analysts Forecast Growth

USB has been the subject of several analyst reports. Wells Fargo & Company raised their price objective on shares of U.S. Bancorp from $48.00 to $52.00 and gave the stock an “overweight” rating in a research note on Thursday, July 18th. Morgan Stanley raised their price target on U.S. Bancorp from $47.00 to $54.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Evercore ISI upped 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. StockNews.com upgraded U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Finally, Jefferies Financial Group cut their price target on shares of U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating on the stock in a report on Wednesday, July 3rd. Thirteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $48.23.

U.S. Bancorp Trading Down 2.3 %

USB opened at $44.49 on Friday. 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 firm has a market cap of $69.42 billion, a price-to-earnings ratio of 14.73, a PEG ratio of 4.57 and a beta of 1.04. U.S. Bancorp has a 12 month low of $30.47 and a 12 month high of $47.31. The stock has a fifty day moving average price of $43.41 and a 200-day moving average price of $42.08.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $6.81 billion. During the same quarter in the previous year, the firm earned $1.12 earnings per share. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. As a group, equities research analysts anticipate that U.S. Bancorp will post 3.89 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were given a dividend of $0.49 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.96 dividend on an annualized basis and a yield of 4.41%. U.S. Bancorp’s payout ratio is 64.90%.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, Director Aleem Gillani acquired 10,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The stock was purchased at an average price of $44.99 per share, for a total transaction of $449,900.00. Following the acquisition, the director now owns 10,000 shares in the company, valued at approximately $449,900. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.23% of the stock is owned by insiders.

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.