SeaCrest Wealth Management LLC Boosts Holdings in U.S. Bancorp (NYSE:USB)

SeaCrest Wealth Management LLC lifted its holdings in U.S. Bancorp (NYSE:USB) by 7.4% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 11,037 shares of the financial services provider’s stock after acquiring an additional 758 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in U.S. Bancorp were worth $438,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Focus Financial Network Inc. ADV bought a new stake in U.S. Bancorp in the fourth quarter worth $5,440,000. Spinnaker Trust bought a new stake in U.S. Bancorp during the 4th quarter valued at $220,000. Morningstar Investment Management LLC grew its holdings in U.S. Bancorp by 760.8% in the 4th quarter. Morningstar Investment Management LLC now owns 83,833 shares of the financial services provider’s stock worth $3,628,000 after acquiring an additional 74,094 shares during the last quarter. abrdn plc increased its position in shares of U.S. Bancorp by 71.9% in the fourth quarter. abrdn plc now owns 652,401 shares of the financial services provider’s stock valued at $28,236,000 after acquiring an additional 272,976 shares during the period. Finally, Brookstone Capital Management raised its stake in shares of U.S. Bancorp by 2,056.5% during the first quarter. Brookstone Capital Management now owns 218,668 shares of the financial services provider’s stock valued at $9,774,000 after acquiring an additional 208,528 shares during the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Price Performance

NYSE USB traded down $0.26 during trading on Wednesday, hitting $43.48. 653,017 shares of the stock traded hands, compared to its average volume of 8,420,831. 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 has a 12-month low of $30.47 and a 12-month high of $45.88. The firm has a 50-day simple moving average of $41.80 and a 200-day simple moving average of $41.62. The company has a market capitalization of $67.85 billion, a P/E ratio of 14.48, a price-to-earnings-growth ratio of 4.20 and a beta of 1.04.

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

U.S. Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were issued a $0.49 dividend. The ex-dividend date was Friday, June 28th. This represents a $1.96 annualized dividend and a dividend yield of 4.51%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 64.90%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on USB shares. StockNews.com upgraded U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, July 17th. The Goldman Sachs Group upped their target price on U.S. Bancorp from $42.00 to $47.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. JPMorgan Chase & Co. cut shares of U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price target on the stock. in a report on Thursday, June 27th. DA Davidson boosted their price objective on shares of U.S. Bancorp from $44.00 to $49.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. Finally, Jefferies Financial Group dropped their target price on shares of U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating for the company in a research report on Wednesday, July 3rd. Thirteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, U.S. Bancorp has an average rating of “Hold” and a consensus target price of $48.23.

Insider Activity at U.S. Bancorp

In other news, Director Aleem Gillani acquired 10,000 shares of U.S. Bancorp stock in a transaction that occurred on Thursday, July 18th. The shares were bought at an average cost of $44.99 per share, with a total value 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.23% of the stock is currently owned by insiders.

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.