Kingswood Wealth Advisors LLC Reduces Holdings in U.S. Bancorp (NYSE:USB)

Kingswood Wealth Advisors LLC trimmed its position in shares of U.S. Bancorp (NYSE:USB) by 4.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,475 shares of the financial services provider’s stock after selling 333 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in U.S. Bancorp were worth $334,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of U.S. Bancorp by 5.0% during the third quarter. Vanguard Group Inc. now owns 136,513,206 shares of the financial services provider’s stock valued at $4,513,127,000 after purchasing an additional 6,479,642 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of U.S. Bancorp by 8.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 33,719,110 shares of the financial services provider’s stock valued at $1,459,363,000 after purchasing an additional 2,598,163 shares during the period. Norges Bank purchased a new stake in shares of U.S. Bancorp during the fourth quarter valued at $827,370,000. Morgan Stanley boosted its stake in shares of U.S. Bancorp by 4.3% during the third quarter. Morgan Stanley now owns 18,129,558 shares of the financial services provider’s stock valued at $599,363,000 after purchasing an additional 751,865 shares during the period. Finally, Van ECK Associates Corp boosted its stake in shares of U.S. Bancorp by 3.0% during the fourth quarter. Van ECK Associates Corp now owns 8,941,642 shares of the financial services provider’s stock valued at $386,994,000 after purchasing an additional 264,264 shares during the period. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Price Performance

Shares of NYSE:USB opened at $39.67 on Friday. U.S. Bancorp has a twelve month low of $30.47 and a twelve month high of $45.85. The company’s 50 day moving average is $40.35 and its 200 day moving average is $41.69. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 1.07. The company has a market cap of $61.90 billion, a PE ratio of 13.14, a price-to-earnings-growth ratio of 3.82 and a beta of 1.04.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.01. U.S. Bancorp had a net margin of 12.13% and a return on equity of 13.93%. The company had revenue of $6.72 billion for the quarter, compared to the consensus estimate of $6.71 billion. During the same quarter in the prior year, the company earned $1.16 EPS. U.S. Bancorp’s quarterly revenue was down 6.4% on a year-over-year basis. On average, sell-side analysts forecast that U.S. Bancorp will post 3.84 EPS for the current year.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a $0.49 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.96 annualized dividend and a yield of 4.94%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 64.90%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. DA Davidson lowered their target price on shares of U.S. Bancorp from $45.00 to $44.00 and set a “neutral” rating for the company in a research note on Thursday, April 18th. Evercore ISI upped 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. Wells Fargo & Company lowered their price objective on shares of U.S. Bancorp from $50.00 to $48.00 and set an “overweight” rating for the company in a research note on Thursday, April 18th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $47.00 price objective on shares of U.S. Bancorp in a research note on Thursday, May 16th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $45.00 price objective on shares of U.S. Bancorp in a research note on Friday, June 21st. Sixteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $46.02.

About U.S. Bancorp

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.