Envestnet Portfolio Solutions Inc. Reduces Stock Holdings in U.S. Bancorp $USB

Envestnet Portfolio Solutions Inc. lowered its stake in shares of U.S. Bancorp (NYSE:USB) by 13.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 166,549 shares of the financial services provider’s stock after selling 25,811 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in U.S. Bancorp were worth $8,049,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in U.S. Bancorp by 1.4% during the second quarter. Vanguard Group Inc. now owns 143,269,275 shares of the financial services provider’s stock valued at $6,482,935,000 after acquiring an additional 2,038,996 shares during the last quarter. Geode Capital Management LLC grew its holdings in U.S. Bancorp by 1.3% during the 2nd quarter. Geode Capital Management LLC now owns 36,632,410 shares of the financial services provider’s stock valued at $1,650,305,000 after purchasing an additional 456,890 shares during the last quarter. Norges Bank purchased a new stake in U.S. Bancorp in the 2nd quarter worth about $971,285,000. Davis Selected Advisers lifted its stake in U.S. Bancorp by 29.8% in the second quarter. Davis Selected Advisers now owns 19,331,637 shares of the financial services provider’s stock worth $874,757,000 after purchasing an additional 4,442,623 shares during the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC lifted its stake in U.S. Bancorp by 3.7% in the second quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 16,569,422 shares of the financial services provider’s stock worth $749,766,000 after purchasing an additional 585,968 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

USB has been the topic of several recent analyst reports. Wolfe Research downgraded U.S. Bancorp from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 7th. DA Davidson increased their target price on U.S. Bancorp from $63.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday. TD Cowen lifted their target price on U.S. Bancorp from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday. UBS Group boosted their target price on shares of U.S. Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a research note on Tuesday, October 7th. Finally, The Goldman Sachs Group set a $52.00 price target on shares of U.S. Bancorp and gave the stock a “neutral” rating in a research note on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, U.S. Bancorp has an average rating of “Moderate Buy” and a consensus target price of $58.19.

U.S. Bancorp Price Performance

USB opened at $55.50 on Friday. The company has a market capitalization of $86.27 billion, a price-to-earnings ratio of 12.01, a PEG ratio of 1.00 and a beta of 1.07. The company has a current ratio of 0.80, a quick ratio of 0.82 and a debt-to-equity ratio of 1.03. U.S. Bancorp has a 12-month low of $35.18 and a 12-month high of $56.70. The business’s fifty day simple moving average is $52.57 and its 200-day simple moving average is $49.10.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.07. The company had revenue of $7.92 billion during the quarter, compared to analyst estimates of $7.31 billion. U.S. Bancorp had a net margin of 17.66% and a return on equity of 13.48%. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.07 earnings per share. On average, equities research analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were paid a $0.52 dividend. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $2.08 dividend on an annualized basis and a yield of 3.7%. U.S. Bancorp’s payout ratio is 45.02%.

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.