Axiom Financial Strategies LLC Acquires Shares of 5,315 U.S. Bancorp $USB

Axiom Financial Strategies LLC bought a new stake in U.S. Bancorp (NYSE:USB) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 5,315 shares of the financial services provider’s stock, valued at approximately $241,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. IMG Wealth Management Inc. acquired a new stake in shares of U.S. Bancorp in the 2nd quarter valued at $25,000. Saudi Central Bank acquired a new position in U.S. Bancorp in the first quarter valued at about $26,000. Westend Capital Management LLC acquired a new position in U.S. Bancorp in the first quarter valued at about $27,000. YANKCOM Partnership grew its stake in U.S. Bancorp by 59.4% in the first quarter. YANKCOM Partnership now owns 698 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 260 shares during the period. Finally, Alpine Bank Wealth Management acquired a new position in U.S. Bancorp in the first quarter valued at about $30,000. 77.60% of the stock is owned by institutional investors and hedge funds.

U.S. Bancorp Trading Down 0.7%

Shares of NYSE:USB opened at $47.30 on Thursday. 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 company has a market capitalization of $73.61 billion, a P/E ratio of 10.82, a P/E/G ratio of 1.27 and a beta of 1.06. The business’s 50 day simple moving average is $48.03 and its 200 day simple moving average is $44.97.

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

U.S. Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were given a $0.52 dividend. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $2.08 annualized dividend and a dividend yield of 4.4%. U.S. Bancorp’s dividend payout ratio is 47.60%.

Wall Street Analysts Forecast Growth

USB has been the subject of several recent research reports. Wall Street Zen raised U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. Cowen reaffirmed a “buy” rating on shares of U.S. Bancorp in a research report on Monday. Morgan Stanley reaffirmed a “positive” rating on shares of U.S. Bancorp in a research report on Friday, October 17th. Bank of America upped their target price on U.S. Bancorp from $54.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, October 17th. Finally, Truist Financial upped their target price on U.S. Bancorp from $51.00 to $52.00 and gave the company a “hold” rating in a research report on Friday, October 17th. One research 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 company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $54.55.

Insider Activity

In other news, Chairman Andrew Cecere sold 140,445 shares of U.S. Bancorp stock in a transaction dated 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 completion of the transaction, the chairman directly owned 1,360,414 shares of the company’s stock, valued at approximately $63,041,584.76. This trade represents a 9.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP James L. Chosy sold 26,909 shares of U.S. Bancorp 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 transaction, the executive vice president directly owned 226,375 shares of the company’s stock, valued at approximately $10,607,932.50. This trade represents a 10.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.