HighMark Wealth Management LLC Sells 796 Shares of U.S. Bancorp (NYSE:USB)

HighMark Wealth Management LLC cut its stake in U.S. Bancorp (NYSE:USB) by 2.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,829 shares of the financial services provider’s stock after selling 796 shares during the period. U.S. Bancorp accounts for 0.7% of HighMark Wealth Management LLC’s investment portfolio, making the stock its 20th largest holding. HighMark Wealth Management LLC’s holdings in U.S. Bancorp were worth $1,175,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. J.Safra Asset Management Corp acquired a new stake in shares of U.S. Bancorp during the fourth quarter worth $26,000. Picton Mahoney Asset Management bought a new stake in U.S. Bancorp during the fourth quarter valued at $30,000. Alpine Bank Wealth Management bought a new position in shares of U.S. Bancorp in the 1st quarter worth about $30,000. Millstone Evans Group LLC bought a new stake in shares of U.S. Bancorp during the 4th quarter valued at about $31,000. Finally, REAP Financial Group LLC boosted its position in shares of U.S. Bancorp by 86.1% during the 4th quarter. REAP Financial Group LLC now owns 642 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 297 shares in the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Stock Up 1.8%

Shares of NYSE:USB opened at $45.64 on Friday. The business’s 50 day moving average is $42.78 and its 200 day moving average is $44.58. U.S. Bancorp has a 12-month low of $35.18 and a 12-month high of $53.98. The stock has a market cap of $71.11 billion, a price-to-earnings ratio of 11.30, a PEG ratio of 1.69 and a beta of 0.99. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.11.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.06. The business had revenue of $6.96 billion for the quarter, compared to analysts’ expectations of $6.92 billion. U.S. Bancorp had a return on equity of 13.02% and a net margin of 15.70%. During the same period last year, the business earned $0.78 EPS. On average, sell-side analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.38%. The ex-dividend date is Monday, June 30th. U.S. Bancorp’s payout ratio is currently 49.50%.

Analyst Ratings Changes

Several brokerages have issued reports on USB. Wells Fargo & Company dropped their price target on U.S. Bancorp from $56.00 to $50.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. Piper Sandler dropped their target price on shares of U.S. Bancorp from $49.00 to $48.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. Evercore ISI raised their price target on shares of U.S. Bancorp from $44.00 to $49.00 and gave the stock an “in-line” rating in a report on Wednesday, June 4th. Citigroup dropped their price objective on shares of U.S. Bancorp from $65.00 to $55.00 and set a “buy” rating on the stock in a report on Monday, March 24th. Finally, The Goldman Sachs Group increased their price objective on shares of U.S. Bancorp from $41.00 to $46.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 10th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, U.S. Bancorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.72.

Insider Buying and Selling

In other news, Director Aleem Gillani bought 5,000 shares of the company’s stock in a transaction on Monday, April 21st. The shares were purchased at an average price of $37.32 per share, with a total value of $186,600.00. Following the transaction, the director now directly owns 15,000 shares in the company, valued at $559,800. This represents a 50.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.23% of the stock is owned by corporate insiders.

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.