Wesbanco Bank Inc. Buys 19,209 Shares of U.S. Bancorp (USB)

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Wesbanco Bank Inc. raised its stake in shares of U.S. Bancorp (NYSE:USB) by 8.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 246,773 shares of the financial services provider’s stock after purchasing an additional 19,209 shares during the period. Wesbanco Bank Inc.’s holdings in U.S. Bancorp were worth $12,344,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the business. American Century Companies Inc. raised its position in U.S. Bancorp by 1.9% during the second quarter. American Century Companies Inc. now owns 10,220,827 shares of the financial services provider’s stock valued at $511,246,000 after purchasing an additional 186,828 shares during the period. Sunbelt Securities Inc. raised its position in U.S. Bancorp by 26.6% during the second quarter. Sunbelt Securities Inc. now owns 5,973 shares of the financial services provider’s stock valued at $299,000 after purchasing an additional 1,256 shares during the period. Abbrea Capital LLC raised its position in U.S. Bancorp by 8.4% during the second quarter. Abbrea Capital LLC now owns 15,262 shares of the financial services provider’s stock valued at $768,000 after purchasing an additional 1,187 shares during the period. Maltese Capital Management LLC raised its position in U.S. Bancorp by 10.3% during the second quarter. Maltese Capital Management LLC now owns 661,800 shares of the financial services provider’s stock valued at $33,103,000 after purchasing an additional 61,800 shares during the period. Finally, Carret Asset Management LLC raised its position in U.S. Bancorp by 4.6% during the second quarter. Carret Asset Management LLC now owns 63,417 shares of the financial services provider’s stock valued at $3,172,000 after purchasing an additional 2,790 shares during the period. Institutional investors and hedge funds own 72.67% of the company’s stock.

A number of equities research analysts have issued reports on USB shares. ValuEngine downgraded U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Monday, July 2nd. Susquehanna Bancshares set a $57.00 price target on U.S. Bancorp and gave the stock a “hold” rating in a report on Monday, April 23rd. Wedbush reiterated a “neutral” rating on shares of U.S. Bancorp in a report on Monday, July 23rd. Finally, Citigroup upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and set a $58.00 price target on the stock in a report on Friday, May 11th. Five analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company’s stock. U.S. Bancorp has a consensus rating of “Hold” and a consensus target price of $58.58.

In other U.S. Bancorp news, Vice Chairman John R. Elmore sold 58,924 shares of the firm’s stock in a transaction on Monday, July 23rd. The stock was sold at an average price of $51.71, for a total transaction of $3,046,960.04. Following the transaction, the insider now directly owns 98,371 shares in the company, valued at approximately $5,086,764.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.43% of the company’s stock.

Shares of NYSE USB traded up $0.25 during midday trading on Tuesday, hitting $54.07. The company’s stock had a trading volume of 18,782 shares, compared to its average volume of 5,954,731. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.82 and a current ratio of 0.83. U.S. Bancorp has a 12-month low of $48.49 and a 12-month high of $58.50. The company has a market cap of $86.81 billion, a price-to-earnings ratio of 15.82, a PEG ratio of 1.75 and a beta of 0.98.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Wednesday, July 18th. The financial services provider reported $1.02 EPS for the quarter, topping the consensus estimate of $1.01 by $0.01. The company had revenue of $5.64 billion for the quarter, compared to the consensus estimate of $5.64 billion. U.S. Bancorp had a return on equity of 14.66% and a net margin of 26.96%. U.S. Bancorp’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period last year, the business posted $0.25 EPS. sell-side analysts predict that U.S. Bancorp will post 4.07 earnings per share for the current year.

U.S. Bancorp Profile

U.S. Bancorp, a financial services holding company, provides various financial services in the United States. The company operates through five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.

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Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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