Profund Advisors LLC Sells 4,160 Shares of U.S. Bancorp $USB

Profund Advisors LLC lessened its stake in shares of U.S. Bancorp (NYSE:USB) by 17.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,005 shares of the financial services provider’s stock after selling 4,160 shares during the period. Profund Advisors LLC’s holdings in U.S. Bancorp were worth $905,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of USB. IMG Wealth Management Inc. acquired a new position in shares of U.S. Bancorp during the 2nd quarter worth about $25,000. Saudi Central Bank bought a new stake in U.S. Bancorp in the 1st quarter valued at $26,000. Activest Wealth Management increased its holdings in shares of U.S. Bancorp by 846.5% during the 2nd quarter. Activest Wealth Management now owns 814 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 728 shares during the period. Groupe la Francaise acquired a new position in shares of U.S. Bancorp during the first quarter valued at about $41,000. Finally, Meeder Asset Management Inc. lifted its stake in shares of U.S. Bancorp by 118.4% in the first quarter. Meeder Asset Management Inc. now owns 987 shares of the financial services provider’s stock valued at $42,000 after buying an additional 535 shares during the period. Institutional investors own 77.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. DA Davidson upped their price target on U.S. Bancorp from $57.00 to $59.00 and gave the company a “buy” rating in a report on Friday, October 17th. Oppenheimer lowered their price objective on U.S. Bancorp from $67.00 to $66.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 23rd. TD Cowen raised their target price on U.S. Bancorp from $59.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, October 20th. Wall Street Zen upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. Finally, The Goldman Sachs Group set a $52.00 price target on shares of U.S. Bancorp and gave the company a “neutral” rating in a report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $54.55.

Insider Activity

In other news, EVP James L. Chosy sold 26,909 shares of the firm’s stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $46.86, for a total transaction of $1,260,955.74. Following the completion of the sale, the executive vice president owned 226,375 shares of the company’s stock, valued at approximately $10,607,932.50. This trade represents a 10.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Andrew Cecere sold 140,445 shares of U.S. Bancorp stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $46.34, for a total transaction of $6,508,221.30. Following the completion of the transaction, the chairman owned 1,360,414 shares of the company’s stock, valued at $63,041,584.76. This trade represents a 9.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.23% of the company’s stock.

U.S. Bancorp Price Performance

U.S. Bancorp stock opened at $47.62 on Wednesday. The business has a 50 day simple moving average of $47.91 and a 200 day simple moving average of $45.99. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.82 and a quick ratio of 0.82. The company has a market capitalization of $74.02 billion, a PE ratio of 10.90, a price-to-earnings-growth ratio of 1.25 and a beta of 1.10. U.S. Bancorp has a one year low of $35.18 and a one year high of $53.98.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.11. The firm had revenue of $7.34 billion during the quarter, compared to analyst estimates of $7.17 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.03 earnings per share. On average, sell-side analysts forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were given a dividend of $0.52 per share. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.50. The ex-dividend date was Tuesday, September 30th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.4%. U.S. Bancorp’s dividend payout ratio is 47.60%.

U.S. Bancorp Company 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.