U.S. Bancorp (NYSE:USB) Shares Sold by HBK Sorce Advisory LLC

HBK Sorce Advisory LLC lessened its position in shares of U.S. Bancorp (NYSE:USB) by 2.4% during the second quarter, HoldingsChannel reports. The institutional investor owned 64,991 shares of the financial services provider’s stock after selling 1,594 shares during the quarter. HBK Sorce Advisory LLC’s holdings in U.S. Bancorp were worth $2,580,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also made changes to their positions in the company. Financial Synergies Wealth Advisors Inc. acquired a new stake in shares of U.S. Bancorp during the 1st quarter worth approximately $30,000. 1620 Investment Advisors Inc. acquired a new stake in U.S. Bancorp in the second quarter worth $30,000. Eagle Bay Advisors LLC lifted its stake in U.S. Bancorp by 93.2% in the first quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock valued at $31,000 after buying an additional 331 shares during the last quarter. LRI Investments LLC acquired a new position in shares of U.S. Bancorp during the first quarter valued at $31,000. Finally, Y.D. More Investments Ltd bought a new position in shares of U.S. Bancorp during the second quarter worth about $33,000. 77.60% of the stock is currently owned by institutional investors.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, Director Aleem Gillani bought 10,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The shares were bought at an average price of $44.99 per share, for a total transaction of $449,900.00. Following the completion of the acquisition, the director now owns 10,000 shares of the company’s stock, valued at $449,900. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.23% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on USB shares. Evercore ISI lifted their target price on U.S. Bancorp from $45.00 to $48.00 and gave the stock an “in-line” rating in a report on Tuesday, June 25th. UBS Group boosted their target price on U.S. Bancorp from $43.00 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Morgan Stanley raised their target price on shares of U.S. Bancorp from $47.00 to $54.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. Jefferies Financial Group decreased their price objective on shares of 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. downgraded U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price objective for the company. in a research note 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. According to data from MarketBeat.com, U.S. Bancorp currently has a consensus rating of “Hold” and a consensus target price of $48.18.

U.S. Bancorp Stock Down 2.0 %

Shares of USB opened at $43.85 on Friday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.80 and a current ratio of 0.81. The company has a 50-day simple moving average of $43.82 and a 200-day simple moving average of $42.17. U.S. Bancorp has a 52 week low of $30.47 and a 52 week high of $47.31. The firm has a market capitalization of $68.43 billion, a P/E ratio of 14.52, a P/E/G ratio of 4.36 and a beta of 1.04.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.04. The company had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.81 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The company’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter last year, the company earned $1.12 EPS. On average, equities research analysts expect that U.S. Bancorp will post 3.87 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.56%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Monday, September 30th. U.S. Bancorp’s payout ratio is presently 64.90%.

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 through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.