Envestnet Portfolio Solutions Inc. Sells 27,817 Shares of U.S. Bancorp (NYSE:USB)

Envestnet Portfolio Solutions Inc. lessened its position in U.S. Bancorp (NYSE:USB) by 8.2% during the second quarter, Holdings Channel.com reports. The fund owned 311,944 shares of the financial services provider’s stock after selling 27,817 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in U.S. Bancorp were worth $12,384,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Naples Money Management LLC bought a new stake in U.S. Bancorp in the 4th quarter worth $30,000. Financial Synergies Wealth Advisors Inc. bought a new stake in shares of U.S. Bancorp during the 1st quarter valued at about $30,000. Eagle Bay Advisors LLC boosted its stake in shares of U.S. Bancorp by 93.2% during the 1st quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 331 shares in the last quarter. LRI Investments LLC bought a new stake in shares of U.S. Bancorp during the 1st quarter valued at about $31,000. Finally, Crewe Advisors LLC bought a new stake in shares of U.S. Bancorp during the 1st quarter valued at about $39,000. Institutional investors own 77.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Wells Fargo & Company lifted their target price on shares of U.S. Bancorp from $48.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday, July 18th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $45.00 target price (down previously from $52.00) on shares of U.S. Bancorp in a research note on Thursday, April 18th. Oppenheimer cut their target price on shares of U.S. Bancorp from $55.00 to $54.00 and set an “outperform” rating on the stock in a research note on Thursday, April 18th. Evercore ISI boosted their price objective on shares of U.S. Bancorp from $45.00 to $48.00 and gave the stock an “in-line” rating in a research note on Tuesday, June 25th. Finally, The Goldman Sachs Group boosted their price objective on shares of U.S. Bancorp from $42.00 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Thirteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $48.23.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, Director Aleem Gillani bought 10,000 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The stock was bought at an average cost of $44.99 per share, for a total transaction of $449,900.00. Following the completion of the transaction, the director now owns 10,000 shares of the company’s stock, valued at approximately $449,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.23% of the stock is currently owned by company insiders.

U.S. Bancorp Stock Performance

Shares of USB traded up $0.73 during mid-day trading on Thursday, hitting $43.07. 2,083,850 shares of the company traded hands, compared to its average volume of 8,496,738. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.80 and a current ratio of 0.81. The stock has a 50-day moving average price of $41.43 and a two-hundred day moving average price of $41.58. U.S. Bancorp has a 1 year low of $30.47 and a 1 year high of $45.88. The stock has a market cap of $67.21 billion, a price-to-earnings ratio of 14.02, a P/E/G ratio of 4.20 and a beta of 1.04.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.04. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The firm had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.81 billion. During the same period in the previous year, the company earned $1.12 earnings per share. The firm’s quarterly revenue was down 4.3% on a year-over-year basis. Equities analysts anticipate that U.S. Bancorp will post 3.9 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were given a dividend of $0.49 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.96 annualized dividend and a yield of 4.55%. U.S. Bancorp’s dividend payout ratio (DPR) is 64.90%.

U.S. Bancorp 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.