U.S. Bancorp $USB Shares Sold by Total Clarity Wealth Management Inc.

Total Clarity Wealth Management Inc. cut its holdings in shares of U.S. Bancorp (NYSE:USB) by 61.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,857 shares of the financial services provider’s stock after selling 23,866 shares during the quarter. Total Clarity Wealth Management Inc.’s holdings in U.S. Bancorp were worth $773,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its position in U.S. Bancorp by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 146,376,783 shares of the financial services provider’s stock worth $7,810,665,000 after purchasing an additional 1,828,404 shares during the period. State Street Corp lifted its holdings in shares of U.S. Bancorp by 0.8% in the 4th quarter. State Street Corp now owns 69,701,898 shares of the financial services provider’s stock valued at $3,755,083,000 after buying an additional 522,368 shares during the period. Geode Capital Management LLC lifted its holdings in shares of U.S. Bancorp by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 37,679,617 shares of the financial services provider’s stock valued at $2,002,518,000 after buying an additional 443,646 shares during the period. Norges Bank purchased a new stake in shares of U.S. Bancorp in the fourth quarter worth about $1,887,497,000. Finally, Auto Owners Insurance Co boosted its stake in shares of U.S. Bancorp by 5,236.0% in the fourth quarter. Auto Owners Insurance Co now owns 33,350,000 shares of the financial services provider’s stock worth $1,779,556,000 after buying an additional 32,725,000 shares during the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at U.S. Bancorp

In related news, insider Jodi L. Richard sold 40,000 shares of the business’s stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total value of $2,280,000.00. Following the completion of the sale, the insider owned 207,251 shares of the company’s stock, valued at approximately $11,813,307. The trade was a 16.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Venkatachari Dilip sold 34,522 shares of the company’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the transaction, the executive vice president owned 51,292 shares of the company’s stock, valued at $2,847,731.84. This represents a 40.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is currently owned by insiders.

U.S. Bancorp Stock Performance

Shares of USB stock opened at $58.62 on Tuesday. The company has a market capitalization of $90.93 billion, a P/E ratio of 12.29, a P/E/G ratio of 1.01 and a beta of 0.97. The business’s 50 day moving average is $55.73 and its two-hundred day moving average is $54.96. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.03. U.S. Bancorp has a 12-month low of $42.93 and a 12-month high of $61.19.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Thursday, April 16th. The financial services provider reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.04. The business had revenue of $7.32 billion during the quarter, compared to analysts’ expectations of $7.27 billion. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.The business’s revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.03 earnings per share. Analysts expect that U.S. Bancorp will post 5.08 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.08 dividend on an annualized basis and a yield of 3.5%. U.S. Bancorp’s dividend payout ratio (DPR) is currently 43.61%.

Analysts Set New Price Targets

Several brokerages recently weighed in on USB. DA Davidson reiterated a “buy” rating and set a $65.00 price target on shares of U.S. Bancorp in a research report on Friday, April 17th. Royal Bank Of Canada upped their price objective on U.S. Bancorp from $59.00 to $61.00 and gave the stock an “outperform” rating in a research report on Friday, April 17th. Weiss Ratings raised shares of U.S. Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Morgan Stanley set a $64.00 target price on shares of U.S. Bancorp in a research note on Friday, April 17th. Finally, Stephens began coverage on shares of U.S. Bancorp in a report on Monday, June 15th. They set an “equal weight” rating and a $63.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $61.29.

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.