HB Wealth Management LLC Sells 11,001 Shares of U.S. Bancorp $USB

HB Wealth Management LLC decreased its position in shares of U.S. Bancorp (NYSE:USB) by 4.2% in the 2nd quarter, Holdings Channel reports. The fund owned 252,376 shares of the financial services provider’s stock after selling 11,001 shares during the quarter. HB Wealth Management LLC’s holdings in U.S. Bancorp were worth $15,244,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in USB. Financial Life Planners bought a new stake in U.S. Bancorp in the 1st quarter valued at about $27,000. Main Street Group LTD bought a new position in U.S. Bancorp during the first quarter worth about $28,000. JPL Wealth Management LLC purchased a new position in shares of U.S. Bancorp in the third quarter worth about $28,000. Archer Investment Corp purchased a new position in shares of U.S. Bancorp in the second quarter worth about $29,000. Finally, Parvin Asset Management LLC bought a new stake in shares of U.S. Bancorp in the second quarter valued at approximately $30,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, CEO Gunjan Kedia sold 27,267 shares of the company’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $62.37, for a total value of $1,700,642.79. Following the completion of the sale, the chief executive officer owned 426,262 shares of the company’s stock, valued at $26,585,960.94. This represents a 6.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stephen L. Philipson sold 36,906 shares of the stock in a transaction on Monday, July 20th. The shares were sold at an average price of $63.08, for a total transaction of $2,328,030.48. Following the transaction, the insider directly owned 74,969 shares in the company, valued at approximately $4,729,044.52. This represents a 32.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on USB. Raymond James Financial initiated coverage on shares of U.S. Bancorp in a research note on Wednesday, July 8th. They set a “strong-buy” rating and a $72.00 price target on the stock. DA Davidson boosted their target price on shares of U.S. Bancorp from $72.00 to $74.00 and gave the company a “buy” rating in a report on Friday, July 17th. UBS Group increased their target price on U.S. Bancorp from $58.00 to $66.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 7th. JPMorgan Chase & Co. raised their price target on U.S. Bancorp from $67.50 to $69.00 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. Finally, Jefferies Financial Group upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and lifted their price target for the company from $60.00 to $75.00 in a research report on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $67.06.

U.S. Bancorp Price Performance

Shares of NYSE:USB opened at $63.36 on Friday. The company has a 50 day moving average of $63.07 and a 200 day moving average of $57.87. The stock has a market cap of $98.72 billion, a P/E ratio of 12.65, a P/E/G ratio of 1.13 and a beta of 0.95. U.S. Bancorp has a 12 month low of $45.02 and a 12 month high of $66.07. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.96.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Thursday, July 16th. The financial services provider reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.07. U.S. Bancorp had a net margin of 18.49% and a return on equity of 13.69%. The business had revenue of $7.69 billion for the quarter, compared to analyst estimates of $7.58 billion. During the same quarter in the prior year, the firm posted $1.11 EPS. As a group, sell-side analysts forecast that U.S. Bancorp will post 5.22 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Tuesday, June 30th. U.S. Bancorp’s dividend payout ratio (DPR) is currently 41.52%.

U.S. Bancorp Company Profile

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.