Lynch & Associates IN reduced its position in shares of U.S. Bancorp (NYSE:USB – Free Report) by 36.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 53,576 shares of the financial services provider’s stock after selling 30,074 shares during the period. Lynch & Associates IN’s holdings in U.S. Bancorp were worth $1,770,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also modified their holdings of the company. Core Alternative Capital increased its stake in U.S. Bancorp by 85.7% during the first quarter. Core Alternative Capital now owns 741 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 342 shares during the period. SRS Capital Advisors Inc. raised its holdings in U.S. Bancorp by 46.9% in the fourth quarter. SRS Capital Advisors Inc. now owns 673 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 215 shares in the last quarter. Thompson Investment Management Inc. purchased a new position in U.S. Bancorp in the first quarter worth approximately $29,000. Iron Horse Wealth Management LLC acquired a new position in U.S. Bancorp during the 1st quarter worth approximately $29,000. Finally, AXS Investments LLC purchased a new stake in shares of U.S. Bancorp in the 4th quarter valued at approximately $33,000. 75.40% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of analysts recently issued reports on the company. Bank of America raised U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their target price for the company from $38.00 to $40.00 in a research report on Tuesday, July 11th. Credit Suisse Group reaffirmed a “neutral” rating and issued a $44.00 target price on shares of U.S. Bancorp in a report on Thursday, July 20th. The Goldman Sachs Group boosted their price target on shares of U.S. Bancorp from $34.00 to $39.00 and gave the stock a “neutral” rating in a research note on Thursday, July 20th. Piper Sandler lowered their price objective on U.S. Bancorp from $41.00 to $40.00 and set a “neutral” rating on the stock in a report on Friday. Finally, StockNews.com initiated coverage on U.S. Bancorp in a report on Thursday, August 17th. They set a “sell” rating on the stock. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $46.71.
Insider Activity at U.S. Bancorp
In other U.S. Bancorp news, insider Timothy A. Welsh sold 13,816 shares of U.S. Bancorp stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $39.79, for a total transaction of $549,738.64. Following the sale, the insider now owns 119,058 shares of the company’s stock, valued at approximately $4,737,317.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Timothy A. Welsh sold 13,816 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $39.79, for a total transaction of $549,738.64. Following the completion of the sale, the insider now directly owns 119,058 shares in the company, valued at $4,737,317.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Terrance R. Dolan sold 26,000 shares of the company’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $39.75, for a total value of $1,033,500.00. Following the completion of the transaction, the chief financial officer now directly owns 166,992 shares in the company, valued at approximately $6,637,932. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by insiders.
U.S. Bancorp Stock Down 1.3 %
NYSE:USB traded down $0.46 during trading hours on Tuesday, hitting $34.29. The stock had a trading volume of 4,231,907 shares, compared to its average volume of 14,199,936. The business has a 50 day simple moving average of $37.27 and a two-hundred day simple moving average of $35.09. U.S. Bancorp has a 1-year low of $27.27 and a 1-year high of $49.95. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.97. The company has a market cap of $52.57 billion, a PE ratio of 9.63, a price-to-earnings-growth ratio of 1.58 and a beta of 0.98.
U.S. Bancorp (NYSE:USB – Get Free Report) last issued its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $1.12 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.01). U.S. Bancorp had a return on equity of 16.53% and a net margin of 16.59%. The firm had revenue of $7.17 billion during the quarter, compared to analyst estimates of $7.17 billion. During the same quarter in the prior year, the firm earned $1.09 EPS. The business’s quarterly revenue was up 19.7% compared to the same quarter last year. Analysts predict that U.S. Bancorp will post 4.44 EPS for the current year.
U.S. Bancorp Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be given a $0.48 dividend. The ex-dividend date is Thursday, September 28th. This represents a $1.92 annualized dividend and a dividend yield of 5.60%. U.S. Bancorp’s payout ratio is 53.19%.
U.S. Bancorp Company 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 in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments.
- Five stocks we like better than U.S. Bancorp
- How to Use High Beta Stocks to Maximize Your Investing Profits
- Hold-It-Forever AutoZone Pulls into Buy Zone
- Investing In Preferred Stock vs. Common Stock
- Virtual Riches: 3 Stocks Leading the VR Revolution
- How to Invest in Communication Stocks
- 5 eCommerce Companies that need to be on Your Watch List
Receive News & Ratings for U.S. Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for U.S. Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.