Harvest Portfolios Group Inc. Sells 13,221 Shares of U.S. Bancorp $USB

Harvest Portfolios Group Inc. reduced its position in shares of U.S. Bancorp (NYSE:USB) by 10.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 118,570 shares of the financial services provider’s stock after selling 13,221 shares during the period. Harvest Portfolios Group Inc.’s holdings in U.S. Bancorp were worth $6,327,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of U.S. Bancorp by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 146,376,783 shares of the financial services provider’s stock worth $7,810,665,000 after purchasing an additional 1,828,404 shares during the last quarter. State Street Corp grew its holdings in shares of U.S. Bancorp by 0.9% during the third quarter. State Street Corp now owns 69,179,530 shares of the financial services provider’s stock worth $3,378,808,000 after purchasing an additional 648,943 shares during the last quarter. Davis Selected Advisers grew its holdings in shares of U.S. Bancorp by 13.4% during the fourth quarter. Davis Selected Advisers now owns 22,041,759 shares of the financial services provider’s stock worth $1,176,148,000 after purchasing an additional 2,610,197 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC grew its holdings in shares of U.S. Bancorp by 7.2% during the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 17,758,947 shares of the financial services provider’s stock worth $858,290,000 after purchasing an additional 1,189,525 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of U.S. Bancorp by 1.1% during the third quarter. Northern Trust Corp now owns 16,438,774 shares of the financial services provider’s stock worth $794,486,000 after purchasing an additional 172,645 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other U.S. Bancorp news, insider Jodi L. Richard sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total value of $2,280,000.00. Following the transaction, the insider directly owned 207,251 shares of the company’s stock, valued at approximately $11,813,307. The trade was a 16.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Venkatachari Dilip sold 34,522 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total value of $1,916,661.44. Following the completion of the transaction, the executive vice president directly owned 51,292 shares in the company, valued at approximately $2,847,731.84. This trade represents a 40.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is owned by insiders.

U.S. Bancorp Price Performance

U.S. Bancorp stock opened at $53.28 on Wednesday. The stock’s 50 day moving average is $53.92 and its 200 day moving average is $53.52. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market cap of $82.70 billion, a P/E ratio of 11.17, a P/E/G ratio of 0.96 and a beta of 1.00. U.S. Bancorp has a one year low of $42.21 and a one year high of $61.19.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Thursday, April 16th. The financial services provider reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.04. The company had revenue of $7.32 billion for the quarter, compared to analyst estimates of $7.27 billion. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.03 earnings per share. As a group, research analysts expect that U.S. Bancorp will post 5.09 EPS for the current year.

U.S. Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend was Tuesday, March 31st. U.S. Bancorp’s payout ratio is currently 43.61%.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Barclays boosted their price target on U.S. Bancorp from $65.00 to $67.00 and gave the stock an “overweight” rating in a report on Friday, April 17th. Royal Bank Of Canada boosted their price target on U.S. Bancorp from $59.00 to $61.00 and gave the stock an “outperform” rating in a report on Friday, April 17th. Morgan Stanley set a $64.00 price target on U.S. Bancorp in a report on Friday, April 17th. TD Cowen boosted their price target on U.S. Bancorp from $65.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, January 21st. Finally, JPMorgan Chase & Co. cut their price objective on U.S. Bancorp from $58.00 to $57.50 and set an “underweight” rating on the stock in a research note on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $61.20.

U.S. Bancorp Profile

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.