Sound View Wealth Advisors Group LLC Sells 1,515 Shares of U.S. Bancorp $USB

Sound View Wealth Advisors Group LLC lessened its holdings in U.S. Bancorp (NYSE:USB) by 10.6% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,741 shares of the financial services provider’s stock after selling 1,515 shares during the period. Sound View Wealth Advisors Group LLC’s holdings in U.S. Bancorp were worth $577,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in USB. IMG Wealth Management Inc. purchased a new stake in U.S. Bancorp during the second quarter valued at approximately $25,000. Saudi Central Bank bought a new stake in shares of U.S. Bancorp during the 1st quarter valued at $26,000. Activest Wealth Management grew its position in shares of U.S. Bancorp by 846.5% during the 2nd quarter. Activest Wealth Management now owns 814 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 728 shares during the period. Groupe la Francaise bought a new position in U.S. Bancorp in the 1st quarter worth $41,000. Finally, Meeder Asset Management Inc. lifted its position in U.S. Bancorp by 118.4% during the first quarter. Meeder Asset Management Inc. now owns 987 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 535 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Analyst Upgrades and Downgrades

USB has been the subject of a number of analyst reports. Truist Financial upped their price target on U.S. Bancorp from $51.00 to $52.00 and gave the stock a “hold” rating in a research report on Friday, October 17th. Oppenheimer reduced their target price 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. Morgan Stanley restated a “positive” rating on shares of U.S. Bancorp in a research note on Friday, October 17th. DA Davidson upped their price target on shares of U.S. Bancorp from $57.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $52.50 price objective on the stock in a research report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, U.S. Bancorp presently has an average rating of “Moderate Buy” and an average price target of $54.55.

U.S. Bancorp Price Performance

Shares of NYSE:USB opened at $47.32 on Monday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a fifty day moving average price of $47.95 and a 200 day moving average price of $45.88. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two week high of $53.98. The firm has a market cap of $73.64 billion, a price-to-earnings ratio of 10.83, a P/E/G ratio of 1.25 and a beta of 1.10.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.11. The company had revenue of $7.34 billion for the quarter, compared to the consensus estimate of $7.17 billion. U.S. Bancorp had a net margin of 16.89% and a return on equity of 13.34%. U.S. Bancorp’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.03 EPS. As a group, sell-side analysts expect 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 announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were given a $0.52 dividend. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date was Tuesday, September 30th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 47.60%.

Insider Transactions at U.S. Bancorp

In related news, EVP James L. Chosy sold 26,909 shares of the stock in a transaction that occurred 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 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 represents a 10.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Andrew Cecere sold 140,445 shares of the firm’s stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $46.34, for a total value of $6,508,221.30. Following the transaction, the chairman owned 1,360,414 shares of the company’s stock, valued at $63,041,584.76. This represents a 9.36% decrease in their position. The SEC filing for this sale provides additional information. 0.23% of the stock is currently owned by 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.