Praxis Investment Management Inc. Sells 14,540 Shares of U.S. Bancorp $USB

Praxis Investment Management Inc. lessened its holdings in shares of U.S. Bancorp (NYSE:USB) by 33.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 28,587 shares of the financial services provider’s stock after selling 14,540 shares during the quarter. Praxis Investment Management Inc.’s holdings in U.S. Bancorp were worth $1,294,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Crestwood Advisors Group LLC raised its position in shares of U.S. Bancorp by 10.6% in the first quarter. Crestwood Advisors Group LLC now owns 6,784 shares of the financial services provider’s stock valued at $286,000 after purchasing an additional 649 shares during the period. Ally Financial Inc. raised its position in shares of U.S. Bancorp by 12.3% in the first quarter. Ally Financial Inc. now owns 91,000 shares of the financial services provider’s stock valued at $3,842,000 after purchasing an additional 10,000 shares during the period. United Community Bank raised its position in shares of U.S. Bancorp by 21.8% in the first quarter. United Community Bank now owns 49,066 shares of the financial services provider’s stock valued at $2,072,000 after purchasing an additional 8,796 shares during the period. Jump Financial LLC raised its position in shares of U.S. Bancorp by 1,952.5% in the first quarter. Jump Financial LLC now owns 840,308 shares of the financial services provider’s stock valued at $35,478,000 after purchasing an additional 799,368 shares during the period. Finally, Asset Management One Co. Ltd. raised its position in shares of U.S. Bancorp by 9.2% in the first quarter. Asset Management One Co. Ltd. now owns 653,367 shares of the financial services provider’s stock valued at $27,585,000 after purchasing an additional 55,054 shares during the period. Institutional investors own 77.60% of the company’s stock.

Insider Activity at U.S. Bancorp

In other news, EVP Souheil Badran sold 23,727 shares of the business’s stock in a transaction on Monday, July 21st. The shares were sold at an average price of $46.34, for a total value of $1,099,509.18. Following the sale, the executive vice president owned 70,346 shares in the company, valued at approximately $3,259,833.64. The trade was a 25.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Trading Up 0.0%

Shares of USB stock opened at $45.66 on Friday. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $53.98. The firm’s fifty day simple moving average is $47.93 and its 200 day simple moving average is $44.81. The firm has a market capitalization of $71.06 billion, a P/E ratio of 10.45, a price-to-earnings-growth ratio of 1.33 and a beta of 1.06. The company has a current ratio of 0.82, a quick ratio of 0.81 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 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 firm had revenue of $7.34 billion for the quarter, compared to the consensus estimate of $7.17 billion. During the same quarter in the previous year, the company earned $1.03 earnings per share. The business’s revenue was up 6.8% compared to the same quarter last year. As a group, sell-side analysts predict that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Increases Dividend

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

Analyst Ratings Changes

A number of research firms have recently commented on USB. UBS Group lifted their price target on shares of U.S. Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a research report on Tuesday, October 7th. Oppenheimer dropped their price target on shares of U.S. Bancorp from $67.00 to $66.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 23rd. Wells Fargo & Company boosted their target price on shares of U.S. Bancorp from $50.00 to $52.00 and gave the stock an “overweight” rating in a research report on Friday. Evercore ISI boosted their target price on shares of U.S. Bancorp from $49.00 to $54.00 and gave the stock an “in-line” rating in a research report on Tuesday, September 30th. Finally, Wall Street Zen raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $54.48.

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.