DAVENPORT & Co LLC Purchases 13,280 Shares of U.S. Bancorp $USB

DAVENPORT & Co LLC increased its position in U.S. Bancorp (NYSE:USB) by 6.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 214,901 shares of the financial services provider’s stock after buying an additional 13,280 shares during the quarter. DAVENPORT & Co LLC’s holdings in U.S. Bancorp were worth $10,386,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in USB. Brighton Jones LLC lifted its holdings in shares of U.S. Bancorp by 323.0% during the fourth quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider’s stock worth $2,309,000 after purchasing an additional 36,863 shares during the period. Wellington Management Group LLP raised its position in U.S. Bancorp by 56.9% during the 1st quarter. Wellington Management Group LLP now owns 159,937 shares of the financial services provider’s stock worth $6,753,000 after purchasing an additional 57,991 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in U.S. Bancorp by 10.6% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 213,187 shares of the financial services provider’s stock worth $9,001,000 after buying an additional 20,447 shares during the period. CreativeOne Wealth LLC grew its position in shares of U.S. Bancorp by 105.2% in the 1st quarter. CreativeOne Wealth LLC now owns 51,068 shares of the financial services provider’s stock valued at $2,156,000 after buying an additional 26,178 shares during the last quarter. Finally, Wealth Preservation Advisors LLC acquired a new stake in shares of U.S. Bancorp in the first quarter valued at about $223,000. Institutional investors own 77.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on USB. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of U.S. Bancorp in a research note on Wednesday, October 8th. Morgan Stanley restated a “positive” rating on shares of U.S. Bancorp in a research report on Friday, October 17th. Oppenheimer decreased their price objective on shares of U.S. Bancorp from $66.00 to $64.00 and set an “outperform” rating for the company in a research report on Wednesday, November 19th. TD Cowen lifted their target price on shares of U.S. Bancorp from $59.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, October 20th. Finally, UBS Group upped their price target on shares of U.S. Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a research report on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $54.95.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, EVP James L. Chosy sold 26,909 shares of the firm’s stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $46.86, for a total value of $1,260,955.74. Following the completion of the sale, the executive vice president owned 226,375 shares of the company’s stock, valued at approximately $10,607,932.50. This trade represents a 10.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Andrew Cecere sold 140,445 shares of the company’s stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $46.34, for a total value of $6,508,221.30. Following the transaction, the chairman directly owned 1,360,414 shares in the company, valued at $63,041,584.76. The trade was a 9.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.23% of the stock is currently owned by corporate insiders.

U.S. Bancorp Stock Up 0.8%

Shares of NYSE USB opened at $54.94 on Thursday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.10. The firm has a market cap of $85.40 billion, a PE ratio of 12.57, a P/E/G ratio of 1.03 and a beta of 1.10. The company’s fifty day simple moving average is $49.23 and its 200 day simple moving average is $47.62. U.S. Bancorp has a 12-month low of $35.18 and a 12-month high of $55.15.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.11. The firm had revenue of $7.34 billion during the quarter, compared to the consensus estimate of $7.17 billion. U.S. Bancorp had a net margin of 16.89% and a return on equity of 13.34%. The business’s revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.03 earnings per share. As a group, sell-side analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Wednesday, December 31st. U.S. Bancorp’s dividend payout ratio is 47.60%.

About U.S. Bancorp

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.