Ashton Thomas Private Wealth LLC Reduces Stake in U.S. Bancorp (NYSE:USB)

Ashton Thomas Private Wealth LLC decreased its stake in shares of U.S. Bancorp (NYSE:USB) by 2.6% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 45,704 shares of the financial services provider’s stock after selling 1,204 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in U.S. Bancorp were worth $1,814,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Financial Synergies Wealth Advisors Inc. bought a new position in U.S. Bancorp in the 1st quarter worth about $30,000. LRI Investments LLC bought a new position in U.S. Bancorp in the 1st quarter worth about $31,000. Eagle Bay Advisors LLC increased its stake in U.S. Bancorp by 93.2% in the 1st quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 331 shares during the last quarter. 1620 Investment Advisors Inc. bought a new position in U.S. Bancorp in the 2nd quarter worth about $30,000. Finally, Crewe Advisors LLC bought a new position in U.S. Bancorp in the 1st quarter worth about $39,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Wall Street Analyst Weigh In

USB has been the topic of a number of research analyst reports. Jefferies Financial Group decreased their target price on U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating on the stock in a research note on Wednesday, July 3rd. Evercore ISI increased their price objective on U.S. Bancorp from $45.00 to $48.00 and gave the company an “in-line” rating in a research report on Tuesday, June 25th. The Goldman Sachs Group increased their price objective on U.S. Bancorp from $42.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. JPMorgan Chase & Co. lowered U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price objective on the stock. in a research report on Thursday, June 27th. Finally, StockNews.com upgraded U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Thirteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $48.23.

U.S. Bancorp Trading Up 1.7 %

NYSE USB opened at $45.26 on Tuesday. U.S. Bancorp has a fifty-two week low of $30.47 and a fifty-two week high of $47.31. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.80 and a current ratio of 0.81. The stock has a 50 day simple moving average of $43.53 and a two-hundred day simple moving average of $42.11. The stock has a market cap of $70.63 billion, a P/E ratio of 14.99, a price-to-earnings-growth ratio of 4.34 and a beta of 1.03.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.04. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The business had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.81 billion. During the same quarter last year, the business posted $1.12 EPS. The business’s revenue was down 4.3% on a year-over-year basis. On average, analysts forecast that U.S. Bancorp will post 3.87 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were issued a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 4.33%. The ex-dividend date of this dividend was Friday, June 28th. U.S. Bancorp’s dividend payout ratio (DPR) is currently 64.90%.

Insiders Place Their Bets

In other news, Director Aleem Gillani bought 10,000 shares of the stock in a transaction dated Thursday, July 18th. The stock was bought at an average price of $44.99 per share, for a total transaction of $449,900.00. Following the purchase, the director now directly owns 10,000 shares in the company, valued at approximately $449,900. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.23% of the company’s stock.

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.