Viawealth LLC Sells 4,087 Shares of U.S. Bancorp $USB

Viawealth LLC trimmed its position in shares of U.S. Bancorp (NYSE:USB) by 9.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 37,813 shares of the financial services provider’s stock after selling 4,087 shares during the period. U.S. Bancorp accounts for approximately 1.0% of Viawealth LLC’s portfolio, making the stock its 25th largest holding. Viawealth LLC’s holdings in U.S. Bancorp were worth $1,711,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of USB. Curbstone Financial Management Corp boosted its position in shares of 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. Crestwood Advisors Group LLC raised its holdings in U.S. Bancorp by 3.5% during the 2nd quarter. Crestwood Advisors Group LLC now owns 7,021 shares of the financial services provider’s stock valued at $318,000 after buying an additional 237 shares during the last quarter. Mechanics Financial Corp increased its holdings 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 purchasing an additional 240 shares during the period. Northern Financial Advisors Inc grew its position in shares of U.S. Bancorp by 5.0% in the 2nd quarter. Northern Financial Advisors Inc now owns 5,033 shares of the financial services provider’s stock worth $228,000 after buying an additional 241 shares during the last quarter. Finally, Lawson Kroeker Investment Management Inc. NE grew its position in shares of U.S. Bancorp by 0.5% in the 2nd quarter. Lawson Kroeker Investment Management Inc. NE now owns 46,109 shares of the financial services provider’s stock worth $2,086,000 after buying an additional 249 shares during the last quarter. Institutional investors own 77.60% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on USB. Cowen reissued a “buy” rating on shares of U.S. Bancorp in a research note on Monday, October 20th. Deutsche Bank Aktiengesellschaft upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and set a $52.50 price objective for the company in a report on Thursday, October 23rd. Oppenheimer lowered their price objective on U.S. Bancorp from $66.00 to $64.00 and set an “outperform” rating for the company in a research report on Wednesday, November 19th. Truist Financial upped 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 report on Friday, October 17th. Finally, TD Cowen lifted their price target on shares of U.S. Bancorp from $59.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, October 20th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, U.S. Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $54.45.

U.S. Bancorp Stock Up 2.4%

USB stock opened at $48.92 on Wednesday. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.82 and a quick ratio of 0.82. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $53.98. The stock has a market capitalization of $76.04 billion, a P/E ratio of 11.19, a P/E/G ratio of 1.25 and a beta of 1.10. The business has a fifty day moving average price of $47.54 and a 200-day moving average price of $46.42.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Thursday, October 16th. The financial services provider reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.11. U.S. Bancorp had a net margin of 16.89% and a return on equity of 13.34%. The business had revenue of $7.34 billion during the quarter, compared to analyst estimates of $7.17 billion. During the same period in the previous year, the business earned $1.03 EPS. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. Equities analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.3%. This is a positive change 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 presently 47.60%.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, EVP James L. Chosy sold 26,909 shares of the company’s stock in a transaction dated 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 owned 226,375 shares in the company, valued at $10,607,932.50. This represents a 10.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, 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 shares were 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 in the company, valued at approximately $63,041,584.76. This trade represents a 9.36% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.23% of the company’s stock.

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.