WealthPlan Investment Management LLC Decreases Holdings in U.S. Bancorp (NYSE:USB)

WealthPlan Investment Management LLC lowered its holdings in U.S. Bancorp (NYSE:USB) by 63.7% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 4,758 shares of the financial services provider’s stock after selling 8,334 shares during the quarter. WealthPlan Investment Management LLC’s holdings in U.S. Bancorp were worth $213,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in USB. Focus Financial Network Inc. ADV purchased a new position in shares of U.S. Bancorp during the fourth quarter worth about $5,440,000. Spinnaker Trust acquired a new position in U.S. Bancorp during the fourth quarter worth approximately $220,000. Morningstar Investment Management LLC lifted its stake in U.S. Bancorp by 760.8% in the fourth quarter. Morningstar Investment Management LLC now owns 83,833 shares of the financial services provider’s stock valued at $3,628,000 after buying an additional 74,094 shares during the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of U.S. Bancorp in the fourth quarter valued at approximately $4,073,000. Finally, abrdn plc grew its position in shares of U.S. Bancorp by 71.9% during the fourth quarter. abrdn plc now owns 652,401 shares of the financial services provider’s stock worth $28,236,000 after acquiring an additional 272,976 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on USB shares. Royal Bank of Canada upped their price target on shares of U.S. Bancorp from $47.00 to $48.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. Oppenheimer reduced their target price on shares of U.S. Bancorp from $55.00 to $54.00 and set an “outperform” rating for the company in a report on Thursday, April 18th. Morgan Stanley raised their price target on U.S. Bancorp from $47.00 to $54.00 and gave the stock an “equal weight” rating in a report on Tuesday. Jefferies Financial Group reduced their price objective on U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating for the company in a research note on Wednesday, July 3rd. Finally, JPMorgan Chase & Co. cut U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price objective for the company. in a research report on Thursday, June 27th. Thirteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $48.23.

Insider Activity

In related news, Director Aleem Gillani acquired 10,000 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The stock was purchased at an average cost of $44.99 per share, for a total transaction of $449,900.00. Following the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $449,900. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.23% of the company’s stock.

U.S. Bancorp Price Performance

NYSE USB traded down $1.40 during mid-day trading on Thursday, hitting $43.48. The stock had a trading volume of 11,214,443 shares, compared to its average volume of 8,575,384. The company has a 50 day simple moving average of $40.99 and a 200 day simple moving average of $41.57. The company has a market cap of $67.85 billion, a price-to-earnings ratio of 14.48, a P/E/G ratio of 4.39 and a beta of 1.04. U.S. Bancorp has a 52-week low of $30.47 and a 52-week high of $45.88. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.05.

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

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were issued a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 4.51%. The ex-dividend date was Friday, June 28th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 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.