Foster Victor Wealth Advisors LLC Sells 3,887 Shares of U.S. Bancorp (NYSE:USB)

Foster Victor Wealth Advisors LLC lessened its stake in shares of U.S. Bancorp (NYSE:USB) by 2.1% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 184,097 shares of the financial services provider’s stock after selling 3,887 shares during the period. Foster Victor Wealth Advisors LLC’s holdings in U.S. Bancorp were worth $7,773,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of U.S. Bancorp by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 138,836,896 shares of the financial services provider’s stock worth $6,640,569,000 after purchasing an additional 1,079,056 shares during the last quarter. FMR LLC grew its stake in shares of U.S. Bancorp by 5.0% in the fourth quarter. FMR LLC now owns 67,125,746 shares of the financial services provider’s stock worth $3,210,624,000 after purchasing an additional 3,211,815 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of U.S. Bancorp by 5.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 49,789,725 shares of the financial services provider’s stock worth $2,381,443,000 after purchasing an additional 2,460,845 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of U.S. Bancorp by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 33,937,360 shares of the financial services provider’s stock worth $1,618,948,000 after purchasing an additional 850,763 shares during the last quarter. Finally, Amundi grew its stake in shares of U.S. Bancorp by 7.4% in the fourth quarter. Amundi now owns 19,485,615 shares of the financial services provider’s stock worth $945,268,000 after purchasing an additional 1,341,407 shares during the last quarter. Institutional investors own 77.60% of the company’s stock.

Insider Activity

In other U.S. Bancorp news, Director Aleem Gillani bought 5,000 shares of the stock in a transaction that occurred on Monday, April 21st. The shares were bought at an average price of $37.32 per share, for a total transaction of $186,600.00. Following the acquisition, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $559,800. The trade was a 50.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.23% of the company’s stock.

U.S. Bancorp Price Performance

Shares of NYSE USB opened at $42.93 on Friday. The firm’s 50-day moving average price is $41.74 and its 200-day moving average price is $45.06. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $53.98. The firm has a market capitalization of $66.88 billion, a P/E ratio of 11.33, a P/E/G ratio of 1.73 and a beta of 0.99. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.06. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The firm had revenue of $6.96 billion for the quarter, compared to analyst estimates of $6.92 billion. During the same quarter in the prior year, the business earned $0.78 earnings per share. Equities research analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Barclays reduced their price objective on shares of U.S. Bancorp from $61.00 to $56.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. Oppenheimer boosted their price objective on shares of U.S. Bancorp from $57.00 to $59.00 and gave the stock an “outperform” rating in a research note on Monday, April 28th. Wolfe Research raised shares of U.S. Bancorp from a “peer perform” rating to an “outperform” rating and set a $49.00 price objective on the stock in a research note on Thursday, April 3rd. Citigroup dropped their target price on shares of U.S. Bancorp from $65.00 to $55.00 and set a “buy” rating on the stock in a report on Monday, March 24th. Finally, Bank of America dropped their target price on shares of U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating on the stock in a report on Monday, March 17th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, U.S. Bancorp currently has an average rating of “Moderate Buy” and an average target price of $50.72.

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.