Van ECK Associates Corp Trims Stock Holdings in U.S. Bancorp $USB

Van ECK Associates Corp reduced its stake in U.S. Bancorp (NYSE:USB) by 4.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 8,462,146 shares of the financial services provider’s stock after selling 366,474 shares during the quarter. Van ECK Associates Corp owned 0.54% of U.S. Bancorp worth $408,976,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its position in U.S. Bancorp by 323.0% in the 4th quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider’s stock valued at $2,309,000 after acquiring an additional 36,863 shares in the last quarter. Empowered Funds LLC increased its stake in U.S. Bancorp by 2.1% during the 1st quarter. Empowered Funds LLC now owns 34,411 shares of the financial services provider’s stock worth $1,453,000 after buying an additional 714 shares during the period. Intech Investment Management LLC lifted its holdings in U.S. Bancorp by 18.9% during the 1st quarter. Intech Investment Management LLC now owns 39,276 shares of the financial services provider’s stock worth $1,658,000 after buying an additional 6,252 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in U.S. Bancorp in the 2nd quarter valued at approximately $425,000. Finally, Savant Capital LLC increased its position in shares of U.S. Bancorp by 2.9% during the second quarter. Savant Capital LLC now owns 61,513 shares of the financial services provider’s stock worth $2,783,000 after acquiring an additional 1,758 shares during the period. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Mark G. Runkel sold 32,195 shares of the company’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $60.65, for a total value of $1,952,626.75. Following the completion of the sale, the insider directly owned 97,728 shares of the company’s stock, valued at $5,927,203.20. This represents a 24.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.23% of the stock is currently owned by company insiders.

U.S. Bancorp Price Performance

Shares of NYSE:USB opened at $52.08 on Tuesday. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $61.19. The firm has a market capitalization of $80.91 billion, a P/E ratio of 11.27, a P/E/G ratio of 0.94 and a beta of 1.04. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. The company’s fifty day moving average price is $56.02 and its 200 day moving average price is $51.53.

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 (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.07. The company had revenue of $7.92 billion during the quarter, compared to the consensus estimate of $7.31 billion. U.S. Bancorp had a net margin of 17.66% and a return on equity of 13.48%. U.S. Bancorp’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.07 earnings per share. As a group, sell-side analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Keefe, Bruyette & Woods boosted their target price on U.S. Bancorp from $58.00 to $59.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 21st. Piper Sandler restated a “buy” rating on shares of U.S. Bancorp in a research note on Thursday, February 26th. Royal Bank Of Canada boosted their price target on shares of U.S. Bancorp from $57.00 to $59.00 and gave the stock an “outperform” rating in a report on Wednesday, January 21st. Wolfe Research downgraded shares of U.S. Bancorp from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 7th. Finally, UBS Group restated a “neutral” rating and issued a $60.00 price objective on shares of U.S. Bancorp in a report on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $60.02.

U.S. Bancorp Company Profile

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.