Aevitas Wealth Management Inc. Has $854,000 Stake in U.S. Bancorp (NYSE:USB)

Aevitas Wealth Management Inc. trimmed its stake in U.S. Bancorp (NYSE:USB) by 17.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,423 shares of the financial services provider’s stock after selling 3,149 shares during the period. Aevitas Wealth Management Inc.’s holdings in U.S. Bancorp were worth $854,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Northern Trust Corp grew its holdings in U.S. Bancorp by 0.8% during the 2nd quarter. Northern Trust Corp now owns 20,491,980 shares of the financial services provider’s stock worth $1,073,779,000 after acquiring an additional 171,826 shares during the period. Daily Journal Corp boosted its position in shares of U.S. Bancorp by 9,900.0% during the 2nd quarter. Daily Journal Corp now owns 14,000,000 shares of the financial services provider’s stock worth $7,336,000 after purchasing an additional 13,860,000 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of U.S. Bancorp by 2.4% during the 2nd quarter. Janus Henderson Group PLC now owns 13,382,530 shares of the financial services provider’s stock worth $701,230,000 after purchasing an additional 310,818 shares in the last quarter. Nuveen Asset Management LLC boosted its position in shares of U.S. Bancorp by 17,492.7% during the 2nd quarter. Nuveen Asset Management LLC now owns 12,734,464 shares of the financial services provider’s stock worth $667,286,000 after purchasing an additional 12,662,079 shares in the last quarter. Finally, Fiera Capital Corp boosted its position in shares of U.S. Bancorp by 4.2% during the 2nd quarter. Fiera Capital Corp now owns 9,521,304 shares of the financial services provider’s stock worth $498,916,000 after purchasing an additional 387,833 shares in the last quarter. Institutional investors and hedge funds own 75.51% of the company’s stock.

USB has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised shares of U.S. Bancorp from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $52.50 to $57.00 in a research report on Wednesday, July 31st. Morgan Stanley lifted their target price on shares of U.S. Bancorp from $55.00 to $56.00 and gave the stock an “underweight” rating in a research report on Thursday, July 18th. Macquarie cut shares of U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $59.00 target price on the stock. in a research report on Thursday, August 1st. Piper Jaffray Companies set a $59.00 target price on shares of U.S. Bancorp and gave the stock a “buy” rating in a research report on Friday, September 13th. Finally, Wedbush lifted their target price on shares of U.S. Bancorp from $46.00 to $49.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $56.60.

Shares of USB stock traded up $0.96 during trading hours on Monday, hitting $56.03. 54,760 shares of the company were exchanged, compared to its average volume of 5,687,350. The firm has a fifty day simple moving average of $54.32 and a 200 day simple moving average of $52.87. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.86. U.S. Bancorp has a 52-week low of $43.14 and a 52-week high of $57.81. The stock has a market capitalization of $86.21 billion, a price-to-earnings ratio of 13.66, a P/E/G ratio of 2.12 and a beta of 1.10.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.04. U.S. Bancorp had a net margin of 26.54% and a return on equity of 15.39%. The company had revenue of $5.92 billion during the quarter, compared to analyst estimates of $5.81 billion. During the same quarter last year, the business posted $1.06 EPS. U.S. Bancorp’s quarterly revenue was up 3.9% compared to the same quarter last year. Sell-side analysts anticipate that U.S. Bancorp will post 4.33 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 3.00%. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Friday, September 27th. U.S. Bancorp’s payout ratio is currently 40.98%.

U.S. Bancorp declared that its board has approved a share repurchase plan on Thursday, June 27th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the financial services provider to repurchase up to 3.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

In other news, Vice Chairman Shailesh M. Kotwal sold 20,000 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $57.33, for a total transaction of $1,146,600.00. Following the completion of the transaction, the insider now directly owns 65,959 shares in the company, valued at approximately $3,781,429.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark G. Runkel sold 10,986 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $57.32, for a total transaction of $629,717.52. Following the transaction, the executive vice president now owns 45,213 shares of the company’s stock, valued at $2,591,609.16. The disclosure for this sale can be found here. Insiders sold a total of 41,119 shares of company stock valued at $2,341,334 over the last quarter. 0.24% of the stock is owned by company insiders.

U.S. Bancorp Company Profile

U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.

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Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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