VCI Wealth Management LLC Acquires New Holdings in U.S. Bancorp $USB

VCI Wealth Management LLC bought a new position in shares of U.S. Bancorp (NYSE:USB) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 32,176 shares of the financial services provider’s stock, valued at approximately $1,858,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Mufg Bank LTD. acquired a new position in shares of U.S. Bancorp in the 2nd quarter valued at $2,680,199,000. Bank of America Corp DE increased its position in shares of U.S. Bancorp by 6.9% during the 1st quarter. Bank of America Corp DE now owns 15,820,033 shares of the financial services provider’s stock worth $822,800,000 after purchasing an additional 1,022,898 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of U.S. Bancorp by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 10,369,212 shares of the financial services provider’s stock worth $539,232,000 after purchasing an additional 93,025 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of U.S. Bancorp during the 2nd quarter worth about $536,457,000. Finally, First Trust Advisors LP increased its position in shares of U.S. Bancorp by 39.9% during the 1st quarter. First Trust Advisors LP now owns 8,118,845 shares of the financial services provider’s stock worth $422,261,000 after purchasing an additional 2,314,081 shares during the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Up 1.8%

NYSE:USB opened at $60.51 on Tuesday. U.S. Bancorp has a 52 week low of $45.02 and a 52 week high of $66.07. The stock’s fifty day moving average is $59.85 and its two-hundred day moving average is $58.06. The stock has a market capitalization of $94.28 billion, a price-to-earnings ratio of 11.80, a price-to-earnings-growth ratio of 1.14 and a beta of 1.00. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.87.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Thursday, October 15th. The financial services provider reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.02. The business had revenue of $8.04 billion during the quarter, compared to analysts’ expectations of $8 billion. U.S. Bancorp had a return on equity of 13.85% and a net margin of 18.85%. The company’s revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.22 earnings per share. Research analysts anticipate that U.S. Bancorp will post 5.30 EPS for the current year.

U.S. Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Wednesday, September 30th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.52. U.S. Bancorp’s dividend payout ratio is currently 42.11%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Oppenheimer boosted their price objective on shares of U.S. Bancorp from $73.00 to $74.00 and gave the company an “outperform” rating in a report on Monday. Jefferies Financial Group raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating and increased their target price for the stock from $60.00 to $75.00 in a research note on Monday, July 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of U.S. Bancorp in a research report on Thursday. JPMorgan Chase & Co. lifted their price target on shares of U.S. Bancorp from $65.00 to $65.50 and gave the company a “neutral” rating in a research report on Friday. Finally, Barclays boosted their price target on shares of U.S. Bancorp from $67.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, U.S. Bancorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.36.

Insider Buying and Selling

In related news, CEO Gunjan Kedia sold 27,267 shares of the firm’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $62.37, for a total transaction of $1,700,642.79. Following the completion of the transaction, the chief executive officer directly owned 426,262 shares in the company, valued at $26,585,960.94. This trade represents a 6.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.21% of the stock is owned by company insiders.

About U.S. Bancorp

U.S. Bancorp (NYSE: USB) is a financial services holding company headquartered in Minneapolis, Minnesota, and the parent company of U.S. Bank National Association. U.S. Bank provides banking, lending, payment, investment and wealth-management services to individuals, businesses, institutions and government entities.

The company’s consumer and business banking operations offer deposit accounts, mortgages, home-equity and consumer loans, credit cards, small-business banking and commercial lending.