Van ECK Associates Corp Cuts Stake in U.S. Bancorp $USB

Van ECK Associates Corp lowered its holdings in shares of U.S. Bancorp (NYSE:USB) by 43.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 4,810,183 shares of the financial services provider’s stock after selling 3,651,963 shares during the period. Van ECK Associates Corp’s holdings in U.S. Bancorp were worth $256,672,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in USB. Norges Bank purchased a new stake in shares of U.S. Bancorp during the fourth quarter worth about $1,887,497,000. Capital Research Global Investors purchased a new stake in shares of U.S. Bancorp during the fourth quarter worth about $296,377,000. SG Americas Securities LLC grew its position in shares of U.S. Bancorp by 3,451.9% during the fourth quarter. SG Americas Securities LLC now owns 4,332,659 shares of the financial services provider’s stock worth $231,191,000 after purchasing an additional 4,210,676 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of U.S. Bancorp by 63.2% during the fourth quarter. Victory Capital Management Inc. now owns 9,480,254 shares of the financial services provider’s stock worth $505,866,000 after purchasing an additional 3,672,742 shares in the last quarter. Finally, Davis Selected Advisers grew its position in shares of U.S. Bancorp by 13.4% during the fourth quarter. Davis Selected Advisers now owns 22,041,759 shares of the financial services provider’s stock worth $1,176,148,000 after purchasing an additional 2,610,197 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Insider Buying and Selling at U.S. Bancorp

In related news, EVP Venkatachari Dilip sold 34,522 shares of the business’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 directly owned 51,292 shares in the company, valued at $2,847,731.84. The trade was a 40.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jodi L. Richard sold 40,000 shares of the business’s stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total value of $2,280,000.00. Following the transaction, the insider owned 207,251 shares in the company, valued at approximately $11,813,307. This trade represents a 16.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is owned by insiders.

U.S. Bancorp Stock Up 2.2%

Shares of USB stock opened at $58.90 on Friday. U.S. Bancorp has a 1-year low of $42.55 and a 1-year high of $61.19. The stock’s fifty day moving average price is $55.25 and its 200 day moving average price is $54.53. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market cap of $91.37 billion, a price-to-earnings ratio of 12.35, a price-to-earnings-growth ratio of 1.04 and a beta of 0.97.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.04. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.The firm had revenue of $7.32 billion for the quarter, compared to the consensus estimate of $7.27 billion. During the same period in the previous year, the business earned $1.03 EPS. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, research analysts expect that U.S. Bancorp will post 5.09 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

USB has been the subject of several research analyst reports. Royal Bank Of Canada raised their price target on U.S. Bancorp from $59.00 to $61.00 and gave the company an “outperform” rating in a report on Friday, April 17th. DA Davidson reissued a “buy” rating and set a $65.00 price target on shares of U.S. Bancorp in a research note on Friday, April 17th. Oppenheimer raised their price target on U.S. Bancorp from $73.00 to $74.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. Truist Financial reduced their price objective on U.S. Bancorp from $63.00 to $62.00 and set a “buy” rating on the stock in a report on Friday, April 17th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $60.00 price target on shares of U.S. Bancorp in a report on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $61.20.

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.