Silicon Valley Capital Partners Has $3.79 Million Stock Position in U.S. Bancorp $USB

Silicon Valley Capital Partners cut its holdings in shares of U.S. Bancorp (NYSE:USB) by 71.2% in the 1st quarter, HoldingsChannel reports. The fund owned 72,890 shares of the financial services provider’s stock after selling 180,324 shares during the period. Silicon Valley Capital Partners’ holdings in U.S. Bancorp were worth $3,791,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in USB. Norges Bank acquired a new position in U.S. Bancorp during the 4th quarter valued at about $1,887,497,000. Auto Owners Insurance Co raised its stake in shares of U.S. Bancorp by 5,236.0% in the fourth quarter. Auto Owners Insurance Co now owns 33,350,000 shares of the financial services provider’s stock worth $1,779,556,000 after purchasing an additional 32,725,000 shares during the last quarter. Capital Research Global Investors purchased a new stake in shares of U.S. Bancorp in the fourth quarter worth approximately $296,377,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of U.S. Bancorp by 20.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 24,919,079 shares of the financial services provider’s stock valued at $1,329,683,000 after purchasing an additional 4,153,080 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of U.S. Bancorp by 63.2% in the fourth quarter. Victory Capital Management Inc. now owns 9,480,254 shares of the financial services provider’s stock valued at $505,866,000 after purchasing an additional 3,672,742 shares in the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on USB. Barclays upped their price target on U.S. Bancorp from $67.00 to $75.00 and gave the stock an “overweight” rating in a report on Friday, July 17th. Keefe, Bruyette & Woods lifted their price objective on shares of U.S. Bancorp from $63.00 to $66.00 and gave the stock a “market perform” rating in a report on Friday, July 17th. CLSA set a $67.50 price objective on shares of U.S. Bancorp in a report on Monday, July 20th. Wells Fargo & Company upped their target price on shares of U.S. Bancorp from $66.00 to $69.00 and gave the stock an “overweight” rating in a research note on Friday, July 17th. Finally, Raymond James Financial started coverage on shares of U.S. Bancorp in a report on Wednesday, July 8th. They issued a “strong-buy” rating and a $72.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, U.S. Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $67.06.

Insiders Place Their Bets

In other U.S. Bancorp news, EVP Venkatachari Dilip sold 34,522 shares of U.S. Bancorp stock in a transaction dated 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 completion of the transaction, the executive vice president owned 51,292 shares of the company’s stock, valued at $2,847,731.84. The trade was a 40.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Stephen L. Philipson sold 36,906 shares of the business’s stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $63.08, for a total transaction of $2,328,030.48. Following the transaction, the insider directly owned 74,969 shares of the company’s stock, valued at approximately $4,729,044.52. This represents a 32.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.21% of the company’s stock.

U.S. Bancorp Stock Performance

Shares of U.S. Bancorp stock opened at $62.92 on Friday. The business’s fifty day simple moving average is $59.65 and its 200 day simple moving average is $56.65. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.96. U.S. Bancorp has a 12 month low of $43.46 and a 12 month high of $64.84. The firm has a market capitalization of $97.60 billion, a P/E ratio of 12.56, a price-to-earnings-growth ratio of 1.03 and a beta of 0.96.

U.S. Bancorp (NYSE:USB) last released its earnings results on Thursday, July 16th. The financial services provider reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.07. U.S. Bancorp had a net margin of 18.49% and a return on equity of 13.69%. The firm had revenue of $7.71 billion for the quarter, compared to analysts’ expectations of $7.58 billion. During the same period in the previous year, the company earned $1.11 earnings per share. As a group, analysts anticipate that U.S. Bancorp will post 5.22 EPS for the current year.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a $0.52 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $2.08 annualized dividend and a dividend yield of 3.3%. U.S. Bancorp’s payout ratio is 41.52%.

About U.S. Bancorp

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.