Daymark Wealth Partners LLC Sells 38,439 Shares of U.S. Bancorp $USB

Daymark Wealth Partners LLC reduced its position in shares of U.S. Bancorp (NYSE:USB) by 7.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 484,677 shares of the financial services provider’s stock after selling 38,439 shares during the quarter. Daymark Wealth Partners LLC’s holdings in U.S. Bancorp were worth $21,932,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of U.S. Bancorp by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 141,230,279 shares of the financial services provider’s stock valued at $5,962,742,000 after acquiring an additional 2,393,383 shares during the last quarter. Amundi raised its holdings in U.S. Bancorp by 2.2% during the 1st quarter. Amundi now owns 19,907,665 shares of the financial services provider’s stock valued at $773,268,000 after buying an additional 422,050 shares during the period. Davis Selected Advisers raised its holdings in U.S. Bancorp by 3.6% during the 1st quarter. Davis Selected Advisers now owns 14,889,014 shares of the financial services provider’s stock valued at $628,614,000 after buying an additional 513,875 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in U.S. Bancorp by 0.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 12,679,104 shares of the financial services provider’s stock valued at $535,312,000 after buying an additional 104,185 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in U.S. Bancorp by 10.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 11,012,635 shares of the financial services provider’s stock valued at $464,953,000 after buying an additional 1,045,509 shares during the period. 77.60% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Chairman Andrew Cecere sold 140,445 shares of the stock in a transaction on Monday, October 20th. The stock was sold at an average price of $46.34, for a total transaction of $6,508,221.30. Following the transaction, the chairman owned 1,360,414 shares of the company’s stock, valued at approximately $63,041,584.76. This represents a 9.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP James L. Chosy sold 26,909 shares of the stock in a transaction on Monday, October 20th. The stock was sold at an average price of $46.86, for a total value of $1,260,955.74. Following the transaction, the executive vice president directly owned 226,375 shares in the company, valued at $10,607,932.50. The trade was a 10.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.23% of the stock is currently owned by corporate insiders.

U.S. Bancorp Stock Performance

USB stock opened at $47.28 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.10. The business’s fifty day simple moving average is $48.15 and its two-hundred day simple moving average is $45.36. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $53.98. The firm has a market cap of $73.57 billion, a price-to-earnings ratio of 10.82, a PEG ratio of 1.28 and a beta of 1.06.

U.S. Bancorp (NYSE:USB) last released its earnings results on Thursday, October 16th. The financial services provider reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.11. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.The business had revenue of $7.34 billion for the quarter, compared to analyst estimates of $7.17 billion. During the same quarter last year, the firm posted $1.03 earnings per share. The business’s revenue was up 6.8% compared to the same quarter last year. Analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend was Tuesday, September 30th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.50. U.S. Bancorp’s dividend payout ratio is currently 47.60%.

Analysts Set New Price Targets

Several analysts recently weighed in on USB shares. Bank of America increased their price target on U.S. Bancorp from $54.00 to $55.00 and gave the company a “buy” rating in a report on Friday, October 17th. Wall Street Zen upgraded U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Friday, July 18th. Weiss Ratings restated a “buy (b-)” rating on shares of U.S. Bancorp in a report on Wednesday, October 8th. UBS Group increased their price target on U.S. Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a report on Tuesday, October 7th. Finally, The Goldman Sachs Group set a $52.00 target price on U.S. Bancorp and gave the stock a “neutral” rating in a research note on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $54.55.

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.