West Paces Advisors Inc. Sells 2,174 Shares of U.S. Bancorp (NYSE:USB)

West Paces Advisors Inc. trimmed its holdings in U.S. Bancorp (NYSE:USB) by 12.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,966 shares of the financial services provider’s stock after selling 2,174 shares during the quarter. West Paces Advisors Inc.’s holdings in U.S. Bancorp were worth $669,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of U.S. Bancorp by 5.0% in the third quarter. Vanguard Group Inc. now owns 136,513,206 shares of the financial services provider’s stock worth $4,513,127,000 after buying an additional 6,479,642 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of U.S. Bancorp by 8.3% in the fourth 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 buying an additional 2,598,163 shares during the period. Aristotle Capital Management LLC raised its holdings in shares of U.S. Bancorp by 266.6% in the third quarter. Aristotle Capital Management LLC now owns 23,467,699 shares of the financial services provider’s stock worth $775,842,000 after buying an additional 17,066,479 shares during the period. Norges Bank purchased a new stake in shares of U.S. Bancorp in the fourth quarter worth approximately $827,370,000. Finally, Morgan Stanley raised its holdings in shares of U.S. Bancorp by 4.3% in the third quarter. Morgan Stanley now owns 18,129,558 shares of the financial services provider’s stock worth $599,363,000 after buying an additional 751,865 shares during the period. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

U.S. Bancorp Stock Performance

USB traded down $0.31 on Wednesday, reaching $39.71. 7,847,933 shares of the stock were exchanged, compared to its average volume of 8,389,741. The company’s 50-day moving average price is $40.36 and its 200 day moving average price is $41.73. U.S. Bancorp has a fifty-two week low of $30.47 and a fifty-two week high of $45.85. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.82 and a quick ratio of 0.81. The firm has a market capitalization of $61.97 billion, a PE ratio of 13.14, a PEG ratio of 3.85 and a beta of 1.04.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. The business had revenue of $6.72 billion during the quarter, compared to analyst estimates of $6.71 billion. U.S. Bancorp had a return on equity of 13.93% and a net margin of 12.13%. The company’s revenue was down 6.4% on a year-over-year basis. During the same quarter last year, the business posted $1.16 EPS. As a group, sell-side analysts forecast that U.S. Bancorp will post 3.84 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a $0.49 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.96 annualized dividend and a dividend yield of 4.94%. U.S. Bancorp’s dividend payout ratio is presently 64.90%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. HSBC upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and increased their price target for the stock from $47.00 to $53.00 in a report on Thursday, March 28th. Oppenheimer reduced their price objective on U.S. Bancorp from $55.00 to $54.00 and set an “outperform” rating on the stock in a report on Thursday, April 18th. JPMorgan Chase & Co. reduced their price objective on U.S. Bancorp from $45.00 to $43.50 and set an “overweight” rating on the stock in a report on Wednesday, May 1st. Barclays reduced their price objective on U.S. Bancorp from $56.00 to $52.00 and set an “overweight” rating on the stock in a report on Thursday, April 18th. Finally, StockNews.com upgraded U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Friday, June 14th. Fifteen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, U.S. Bancorp presently has an average rating of “Hold” and an average price target of $46.02.

U.S. Bancorp 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.