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

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

Several other institutional investors have also modified their holdings of USB. Mufg Bank LTD. purchased a new stake in shares of U.S. Bancorp during the second quarter worth $2,680,199,000. Bank of America Corp DE raised its stake in shares of U.S. Bancorp by 6.9% in the first quarter. Bank of America Corp DE now owns 15,820,033 shares of the financial services provider’s stock valued at $822,800,000 after acquiring an additional 1,022,898 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in U.S. Bancorp by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 10,369,212 shares of the financial services provider’s stock valued at $539,232,000 after purchasing an additional 93,025 shares during the period. Bank of New York Mellon Corp purchased a new position in U.S. Bancorp in the second quarter valued at $536,457,000. Finally, First Trust Advisors LP boosted its holdings in U.S. Bancorp by 39.9% in the first quarter. First Trust Advisors LP now owns 8,118,845 shares of the financial services provider’s stock valued at $422,261,000 after purchasing an additional 2,314,081 shares during the period. Institutional investors and hedge funds own 77.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on USB shares. Oppenheimer boosted their target price on U.S. Bancorp from $73.00 to $74.00 and gave the stock an “outperform” rating in a research note on Monday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of U.S. Bancorp in a research report on Thursday. Raymond James Financial reduced their price target on U.S. Bancorp from $74.00 to $72.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, October 6th. CLSA set a $67.50 price objective on U.S. Bancorp in a research note on Monday, July 20th. Finally, Jefferies Financial Group raised U.S. Bancorp from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $60.00 to $75.00 in a research report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $69.36.

U.S. Bancorp Trading Up 1.8%

Shares of 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 company’s 50 day moving average is $59.85 and its two-hundred day moving average is $58.06. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.87. The company has a market cap of $94.28 billion, a PE ratio of 11.80, a P/E/G ratio of 1.14 and a beta of 1.00.

U.S. Bancorp (NYSE:USB) last announced 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 for the quarter, compared to analyst estimates of $8 billion. U.S. Bancorp had a net margin of 18.85% and a return on equity of 13.85%. The company’s revenue was up 8.7% on a year-over-year basis. During the same period last year, the business earned $1.22 EPS. Equities analysts predict that U.S. Bancorp will post 5.30 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

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

Insider Buying and Selling

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

U.S. Bancorp Profile

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.