Wealthcare Advisory Partners LLC Decreases Stock Holdings in U.S. Bancorp $USB

Wealthcare Advisory Partners LLC cut its holdings in U.S. Bancorp (NYSE:USB) by 43.7% in the second quarter, HoldingsChannel reports. The firm owned 10,222 shares of the financial services provider’s stock after selling 7,919 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in U.S. Bancorp were worth $617,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of U.S. Bancorp by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 146,376,783 shares of the financial services provider’s stock worth $7,810,665,000 after buying an additional 1,828,404 shares in the last quarter. State Street Corp raised its position in shares of U.S. Bancorp by 0.8% during the 4th quarter. State Street Corp now owns 69,701,898 shares of the financial services provider’s stock valued at $3,755,083,000 after buying an additional 522,368 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of U.S. Bancorp by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 37,679,617 shares of the financial services provider’s stock valued at $2,002,518,000 after acquiring an additional 443,646 shares during the last quarter. Norges Bank bought a new position in shares of U.S. Bancorp in the 4th quarter valued at about $1,887,497,000. Finally, Auto Owners Insurance Co grew its position in U.S. Bancorp by 5,236.0% in the fourth quarter. Auto Owners Insurance Co now owns 33,350,000 shares of the financial services provider’s stock worth $1,779,556,000 after acquiring an additional 32,725,000 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Performance

Shares of NYSE:USB opened at $65.39 on Friday. The company has a market capitalization of $101.87 billion, a price-to-earnings ratio of 13.05, a price-to-earnings-growth ratio of 1.07 and a beta of 0.96. U.S. Bancorp has a 52 week low of $45.02 and a 52 week high of $65.61. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.96. The firm has a 50 day moving average of $61.76 and a 200 day moving average of $57.38.

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

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.2%. U.S. Bancorp’s payout ratio is 41.52%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Evercore raised U.S. Bancorp from an “in-line” rating to an “outperform” rating and set a $72.00 price objective on the stock in a research note on Monday, July 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of U.S. Bancorp in a report on Friday, July 31st. Raymond James Financial started coverage on U.S. Bancorp in a research report on Wednesday, July 8th. They set a “strong-buy” rating and a $72.00 target price on the stock. Wall Street Zen upgraded U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Monday, July 6th. Finally, Truist Financial raised their price target on U.S. Bancorp from $66.00 to $69.00 and gave the stock a “buy” rating in a research report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $67.06.

Insider Activity

In other U.S. Bancorp news, insider Stephen L. Philipson sold 36,906 shares of the business’s stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $63.08, for a total transaction of $2,328,030.48. Following the sale, the insider owned 74,969 shares in the company, valued at approximately $4,729,044.52. The trade was a 32.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.21% of the stock is currently owned by insiders.

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.