Bartlett & CO. Wealth Management LLC Cuts Stock Holdings in U.S. Bancorp $USB

Bartlett & CO. Wealth Management LLC reduced its stake in U.S. Bancorp (NYSE:USB) by 0.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 371,803 shares of the financial services provider’s stock after selling 1,355 shares during the quarter. Bartlett & CO. Wealth Management LLC’s holdings in U.S. Bancorp were worth $17,010,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of USB. Saudi Central Bank purchased a new stake in shares of U.S. Bancorp during the 1st quarter valued at $26,000. Westend Capital Management LLC purchased a new stake in U.S. Bancorp during the first quarter valued at about $27,000. YANKCOM Partnership lifted its stake in U.S. Bancorp by 59.4% during the first quarter. YANKCOM Partnership now owns 698 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 260 shares during the last quarter. Alpine Bank Wealth Management purchased a new position in shares of U.S. Bancorp in the 1st quarter worth about $30,000. Finally, Cornerstone Planning Group LLC increased its position in shares of U.S. Bancorp by 118.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 776 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 420 shares during the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on USB. Wall Street Zen raised U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. The Goldman Sachs Group increased their target price on shares of U.S. Bancorp from $41.00 to $46.00 and gave the company a “neutral” rating in a report on Tuesday, June 10th. Evercore ISI boosted their price target on shares of U.S. Bancorp from $49.00 to $54.00 and gave the stock an “in-line” rating in a research note on Tuesday. DA Davidson upped their price target on shares of U.S. Bancorp from $49.00 to $52.00 and gave the company a “buy” rating in a research report on Monday, July 21st. Finally, Raymond James Financial upgraded U.S. Bancorp from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the stock from $51.00 to $57.00 in a report on Monday, July 7th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $53.26.

Insider Buying and Selling at U.S. Bancorp

In related news, EVP Souheil Badran sold 23,727 shares of the business’s stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $46.34, for a total value of $1,099,509.18. Following the completion of the transaction, the executive vice president directly owned 70,346 shares in the company, valued at $3,259,833.64. The trade was a 25.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.23% of the stock is owned by company insiders.

U.S. Bancorp Price Performance

Shares of NYSE:USB opened at $48.34 on Wednesday. The business has a fifty day moving average price of $47.51 and a 200-day moving average price of $44.45. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market capitalization of $75.23 billion, a PE ratio of 11.56, a PEG ratio of 1.53 and a beta of 1.05. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $53.98.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Thursday, July 17th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.04. The company had revenue of $7.06 billion for the quarter, compared to analysts’ expectations of $7.07 billion. U.S. Bancorp had a net margin of 16.30% and a return on equity of 13.08%. U.S. Bancorp’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.98 EPS. U.S. Bancorp has set its FY 2025 guidance at EPS. As a group, equities analysts expect that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.52 per share. The ex-dividend date is Tuesday, September 30th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.3%. U.S. Bancorp’s dividend payout ratio is currently 47.85%.

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.