U.S. Bancorp $USB Shares Sold by MainStreet Investment Advisors LLC

MainStreet Investment Advisors LLC decreased its position in shares of U.S. Bancorp (NYSE:USB) by 3.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 99,655 shares of the financial services provider’s stock after selling 3,477 shares during the quarter. MainStreet Investment Advisors LLC’s holdings in U.S. Bancorp were worth $4,509,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in USB. IMG Wealth Management Inc. acquired a new stake in U.S. Bancorp during the second quarter valued at $25,000. Saudi Central Bank purchased a new position in shares of U.S. Bancorp in the 1st quarter valued at about $26,000. Activest Wealth Management raised its holdings in U.S. Bancorp by 846.5% in the 2nd quarter. Activest Wealth Management now owns 814 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 728 shares during the period. Groupe la Francaise purchased a new position in U.S. Bancorp during the first quarter worth approximately $41,000. Finally, Meeder Asset Management Inc. boosted its position in U.S. Bancorp by 118.4% during the first quarter. Meeder Asset Management Inc. now owns 987 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 535 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at U.S. Bancorp

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. 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. Weiss Ratings restated a “buy (b-)” rating on shares of U.S. Bancorp in a research report on Wednesday, October 8th. Citigroup increased their price objective on shares of U.S. Bancorp from $65.00 to $70.00 and gave the company a “buy” rating in a report on Friday, October 17th. Truist Financial boosted their target price on shares of U.S. Bancorp from $51.00 to $52.00 and gave the stock a “hold” rating in a research note on Friday, October 17th. Finally, Wells Fargo & Company raised their price target on shares of U.S. Bancorp from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.55.

U.S. Bancorp Price Performance

U.S. Bancorp stock opened at $45.47 on Tuesday. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $53.98. The firm has a market capitalization of $70.68 billion, a price-to-earnings ratio of 10.40, a PEG ratio of 1.25 and a beta of 1.10. The company has a fifty day simple moving average of $47.76 and a 200-day simple moving average of $46.18. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.10.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.11. The firm had revenue of $7.34 billion for the quarter, compared to the consensus estimate of $7.17 billion. U.S. Bancorp had a net margin of 16.89% and a return on equity of 13.34%. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period last year, the firm posted $1.03 earnings per share. On average, equities analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.6%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.50. The ex-dividend date was Tuesday, September 30th. U.S. Bancorp’s dividend payout ratio (DPR) is currently 47.60%.

About U.S. Bancorp

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.