Shelton Capital Management Lowers Stock Position in U.S. Bancorp (NYSE:USB)

Shelton Capital Management cut its holdings in U.S. Bancorp (NYSE:USB) by 6.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,602 shares of the financial services provider’s stock after selling 708 shares during the quarter. Shelton Capital Management’s holdings in U.S. Bancorp were worth $317,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Vestcor Inc increased its stake in shares of U.S. Bancorp by 0.7% during the fourth quarter. Vestcor Inc now owns 33,480 shares of the financial services provider’s stock valued at $1,460,000 after purchasing an additional 230 shares in the last quarter. Acadian Asset Management LLC increased its position in U.S. Bancorp by 3.0% during the 1st quarter. Acadian Asset Management LLC now owns 9,397 shares of the financial services provider’s stock valued at $499,000 after buying an additional 276 shares in the last quarter. Gamco Investors INC. ET AL increased its position in U.S. Bancorp by 3.4% during the 1st quarter. Gamco Investors INC. ET AL now owns 8,520 shares of the financial services provider’s stock valued at $453,000 after buying an additional 280 shares in the last quarter. Peoples Financial Services CORP. raised its stake in U.S. Bancorp by 2.4% during the second quarter. Peoples Financial Services CORP. now owns 12,875 shares of the financial services provider’s stock valued at $425,000 after buying an additional 300 shares during the last quarter. Finally, Atwood & Palmer Inc. boosted its holdings in U.S. Bancorp by 1.7% in the second quarter. Atwood & Palmer Inc. now owns 17,998 shares of the financial services provider’s stock worth $595,000 after acquiring an additional 300 shares in the last quarter. 75.40% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Bank of America lowered their price target on U.S. Bancorp from $45.00 to $40.00 in a research report on Tuesday, October 10th. Oppenheimer upped their target price on shares of U.S. Bancorp from $60.00 to $63.00 and gave the stock an “outperform” rating in a research note on Thursday, November 16th. DA Davidson raised their price target on shares of U.S. Bancorp from $39.00 to $41.00 and gave the company a “neutral” rating in a research report on Monday, July 24th. Stephens restated an “overweight” rating and issued a $47.00 price objective on shares of U.S. Bancorp in a report on Monday, July 24th. Finally, Piper Sandler cut their target price on U.S. Bancorp from $41.00 to $40.00 and set a “neutral” rating on the stock in a research note on Friday, September 15th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, U.S. Bancorp currently has an average rating of “Hold” and an average target price of $45.90.

Insiders Place Their Bets

In other news, insider James B. Kelligrew acquired 500 shares of the firm’s stock in a transaction dated Sunday, August 27th. The shares were purchased at an average cost of $54.40 per share, for a total transaction of $27,200.00. Following the transaction, the insider now directly owns 940 shares of the company’s stock, valued at $51,136. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders bought a total of 654 shares of company stock worth $30,148 over the last three months. 0.24% of the stock is currently owned by company insiders.

U.S. Bancorp Stock Performance

Shares of USB stock opened at $37.64 on Tuesday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.80 and a quick ratio of 0.80. The company has a market cap of $58.61 billion, a price-to-earnings ratio of 11.20, a PEG ratio of 1.72 and a beta of 1.02. U.S. Bancorp has a 1 year low of $27.27 and a 1 year high of $49.95. The firm has a fifty day moving average price of $33.53 and a 200-day moving average price of $34.18.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.09. U.S. Bancorp had a return on equity of 15.80% and a net margin of 14.39%. The business had revenue of $7.03 billion during the quarter, compared to analyst estimates of $7.02 billion. During the same quarter in the previous year, the company posted $1.18 earnings per share. U.S. Bancorp’s revenue for the quarter was up 11.2% on a year-over-year basis. As a group, equities analysts predict that U.S. Bancorp will post 4.32 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Friday, September 29th were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 5.10%. The ex-dividend date was Thursday, September 28th. U.S. Bancorp’s dividend payout ratio is currently 57.14%.

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 in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments.