U.S. Bancorp $USB Shares Sold by Walkner Condon Financial Advisors LLC

Walkner Condon Financial Advisors LLC reduced its stake in shares of U.S. Bancorp (NYSE:USB) by 1.4% in the 2nd quarter, Holdings Channel reports. The fund owned 87,145 shares of the financial services provider’s stock after selling 1,262 shares during the period. Walkner Condon Financial Advisors LLC’s holdings in U.S. Bancorp were worth $3,943,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. Crestwood Advisors Group LLC boosted its stake in shares of U.S. Bancorp by 10.6% during the 1st quarter. Crestwood Advisors Group LLC now owns 6,784 shares of the financial services provider’s stock worth $286,000 after acquiring an additional 649 shares in the last quarter. Ally Financial Inc. raised its stake in shares of U.S. Bancorp by 12.3% during the 1st quarter. Ally Financial Inc. now owns 91,000 shares of the financial services provider’s stock worth $3,842,000 after buying an additional 10,000 shares during the period. United Community Bank grew its stake in U.S. Bancorp by 21.8% in the 1st quarter. United Community Bank now owns 49,066 shares of the financial services provider’s stock valued at $2,072,000 after acquiring an additional 8,796 shares during the period. Jump Financial LLC boosted its holdings in U.S. Bancorp by 1,952.5% in the 1st quarter. Jump Financial LLC now owns 840,308 shares of the financial services provider’s stock worth $35,478,000 after buying an additional 799,368 shares during the last quarter. Finally, Andra AP fonden lifted its position in shares of U.S. Bancorp by 175.6% in the second quarter. Andra AP fonden now owns 458,400 shares of the financial services provider’s stock valued at $20,743,000 after acquiring an additional 292,100 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Insiders Place Their Bets

In other news, 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 completion of the sale, the chairman directly owned 1,360,414 shares of the company’s stock, valued at approximately $63,041,584.76. The trade was a 9.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP James L. Chosy sold 26,909 shares of the business’s stock in a transaction on Monday, October 20th. The stock was sold at an average price of $46.86, for a total transaction of $1,260,955.74. Following the transaction, the executive vice president owned 226,375 shares of the company’s stock, valued at approximately $10,607,932.50. The trade was a 10.62% 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.

Analyst Ratings Changes

A number of brokerages recently commented on USB. Morgan Stanley reiterated a “positive” rating on shares of U.S. Bancorp in a research report on Friday, October 17th. Oppenheimer cut their price target on shares of U.S. Bancorp from $67.00 to $66.00 and set an “outperform” rating for the company in a report on Tuesday, September 23rd. Evercore ISI lifted their price target on shares of U.S. Bancorp from $49.00 to $54.00 and gave the company an “in-line” rating in a research report on Tuesday, September 30th. The Goldman Sachs Group set a $52.00 price objective on U.S. Bancorp and gave the stock a “neutral” rating in a research report on Friday, October 17th. Finally, TD Cowen increased their target price on shares of U.S. Bancorp from $59.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.55.

U.S. Bancorp Stock Down 0.6%

Shares of USB opened at $46.58 on Friday. The company’s 50-day simple moving average is $47.99 and its 200-day simple moving average is $45.73. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.82 and a current 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 $72.49 billion, a PE ratio of 10.70, a P/E/G ratio of 1.25 and a beta 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 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $7.17 billion. During the same quarter in the previous year, the firm posted $1.03 earnings per share. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. Analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were issued a dividend of $0.52 per share. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.50. The ex-dividend date was Tuesday, September 30th. This represents a $2.08 annualized dividend and a yield of 4.5%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 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.