U.S. Bancorp (NYSE:USB) Stock Holdings Decreased by Transcend Capital Advisors LLC

Transcend Capital Advisors LLC reduced its holdings in U.S. Bancorp (NYSE:USB) by 17.4% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 5,374 shares of the financial services provider’s stock after selling 1,131 shares during the quarter. Transcend Capital Advisors LLC’s holdings in U.S. Bancorp were worth $213,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Quent Capital LLC increased its stake in U.S. Bancorp by 12.5% in the 1st quarter. Quent Capital LLC now owns 2,941 shares of the financial services provider’s stock worth $132,000 after purchasing an additional 327 shares in the last quarter. Abich Financial Wealth Management LLC lifted its stake in shares of U.S. Bancorp by 48.8% in the first quarter. Abich Financial Wealth Management LLC now owns 3,370 shares of the financial services provider’s stock valued at $151,000 after buying an additional 1,105 shares during the period. Mosaic Family Wealth Partners LLC raised its position in U.S. Bancorp by 1.4% in the first quarter. Mosaic Family Wealth Partners LLC now owns 19,487 shares of the financial services provider’s stock worth $871,000 after purchasing an additional 264 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in U.S. Bancorp by 16.9% in the first quarter. EverSource Wealth Advisors LLC now owns 4,393 shares of the financial services provider’s stock valued at $196,000 after buying an additional 636 shares in the last quarter. Finally, Pathway Financial Advisers LLC bought a new stake in U.S. Bancorp during the 1st quarter worth about $916,000. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

USB has been the topic of several recent analyst reports. 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. The Goldman Sachs Group lifted their price target on U.S. Bancorp from $42.00 to $47.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. StockNews.com upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. DA Davidson boosted their price target on U.S. Bancorp from $44.00 to $49.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Finally, Royal Bank of Canada boosted their price objective on U.S. Bancorp from $47.00 to $48.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Thirteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $48.23.

U.S. Bancorp Stock Performance

USB traded down $1.18 during trading on Monday, hitting $41.17. 4,243,266 shares of the stock were exchanged, compared to its average volume of 8,545,738. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $64.24 billion, a P/E ratio of 13.66, a PEG ratio of 4.20 and a beta of 1.04. U.S. Bancorp has a 1-year low of $30.47 and a 1-year high of $45.88. The stock has a fifty day moving average price of $41.10 and a two-hundred day moving average price of $41.59.

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

U.S. Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were paid a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 4.76%. The ex-dividend date was Friday, June 28th. U.S. Bancorp’s dividend payout ratio is currently 64.90%.

Insider Buying and Selling

In other news, Director Aleem Gillani purchased 10,000 shares of the stock in a transaction that occurred on Thursday, July 18th. The stock was acquired at an average cost of $44.99 per share, with a total value of $449,900.00. Following the acquisition, the director now owns 10,000 shares in the company, valued at $449,900. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.23% of the stock is owned by corporate 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.