LifeWealth Investments LLC Trims Stock Position in U.S. Bancorp $USB

LifeWealth Investments LLC cut its stake in shares of U.S. Bancorp (NYSE:USB) by 5.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,645 shares of the financial services provider’s stock after selling 569 shares during the period. LifeWealth Investments LLC’s holdings in U.S. Bancorp were worth $482,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Curbstone Financial Management Corp raised its stake in U.S. Bancorp by 0.6% during the 2nd quarter. Curbstone Financial Management Corp now owns 39,982 shares of the financial services provider’s stock valued at $1,809,000 after acquiring an additional 222 shares during the last quarter. Mechanics Financial Corp raised its stake in U.S. Bancorp by 5.3% during the 2nd quarter. Mechanics Financial Corp now owns 4,806 shares of the financial services provider’s stock valued at $217,000 after acquiring an additional 240 shares during the last quarter. Northern Financial Advisors Inc raised its stake in U.S. Bancorp by 5.0% during the 2nd quarter. Northern Financial Advisors Inc now owns 5,033 shares of the financial services provider’s stock valued at $228,000 after acquiring an additional 241 shares during the last quarter. Lawson Kroeker Investment Management Inc. NE raised its stake in U.S. Bancorp by 0.5% during the 2nd quarter. Lawson Kroeker Investment Management Inc. NE now owns 46,109 shares of the financial services provider’s stock valued at $2,086,000 after acquiring an additional 249 shares during the last quarter. Finally, Bestgate Wealth Advisors LLC increased its position in U.S. Bancorp by 3.3% during the 1st quarter. Bestgate Wealth Advisors LLC now owns 8,031 shares of the financial services provider’s stock worth $339,000 after purchasing an additional 253 shares during the period. 77.60% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other U.S. Bancorp 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 $63,041,584.76. This represents a 9.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available 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 approximately $10,607,932.50. This represents a 10.62% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Evercore ISI boosted their target price on U.S. Bancorp from $49.00 to $54.00 and gave the stock an “in-line” rating in a research report on Tuesday, September 30th. Weiss Ratings reiterated a “buy (b-)” rating on shares of U.S. Bancorp in a research report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and set a $52.50 target price on the stock in a research report on Thursday. Wells Fargo & Company boosted their target price on U.S. Bancorp from $50.00 to $52.00 and gave the stock an “overweight” rating in a research report on Friday, October 17th. Finally, Morgan Stanley reiterated a “positive” rating on shares of U.S. Bancorp in a research report on Friday, October 17th. One research 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 assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.55.

U.S. Bancorp Price Performance

USB stock opened at $47.30 on Thursday. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $53.98. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.82 and a current ratio of 0.82. The stock’s 50 day moving average price is $48.03 and its 200 day moving average price is $44.97. The firm has a market cap of $73.61 billion, a P/E ratio of 10.82, a PEG ratio of 1.27 and a beta of 1.06.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Thursday, October 16th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $7.34 billion for the quarter, compared to analyst estimates of $7.17 billion. During the same quarter in the prior year, the company earned $1.03 EPS. U.S. Bancorp’s revenue was up 6.8% on a year-over-year basis. On average, sell-side analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

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

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.