Resonant Capital Advisors LLC lowered its position in U.S. Bancorp (NYSE:USB – Free Report) by 35.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,305 shares of the financial services provider’s stock after selling 23,609 shares during the period. Resonant Capital Advisors LLC’s holdings in U.S. Bancorp were worth $2,275,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in USB. Financial Life Planners bought a new stake in shares of U.S. Bancorp in the third quarter worth about $25,000. Clayton Financial Group LLC bought a new position in shares of U.S. Bancorp during the 4th quarter valued at about $25,000. JPL Wealth Management LLC bought a new position in shares of U.S. Bancorp during the 3rd quarter valued at about $28,000. Binnacle Investments Inc grew its position in shares of U.S. Bancorp by 77.8% in the 3rd quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 273 shares during the period. Finally, Rossby Financial LCC grew its position in shares of U.S. Bancorp by 57.8% in the 4th quarter. Rossby Financial LCC now owns 579 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 212 shares during the period. Institutional investors and hedge funds own 77.60% of the company’s stock.
Key Headlines Impacting U.S. Bancorp
Here are the key news stories impacting U.S. Bancorp this week:
- Positive Sentiment: Jefferies upgraded U.S. Bancorp to Buy and raised its price target to $75, citing improving earnings leverage and fee-driven growth. Article Title
- Positive Sentiment: Wells Fargo lifted its price target on USB to $66 and maintained an Overweight rating, reflecting expectations for continued upside. Article Title
- Positive Sentiment: UBS Group also raised its price target on U.S. Bancorp to $66, highlighting further analyst confidence even though it kept a neutral stance. Article Title
- Neutral Sentiment: Additional coverage pointed to a constructive second-quarter earnings outlook for U.S. Bancorp, with commentary focusing on potential leverage and revenue growth rather than a fresh catalyst. Article Title
U.S. Bancorp Stock Performance
U.S. Bancorp (NYSE:USB – Get Free Report) last issued its earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.04. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. The business had revenue of $7.32 billion during the quarter, compared to the consensus estimate of $7.27 billion. During the same period last year, the business posted $1.03 EPS. U.S. Bancorp’s revenue was up 4.7% on a year-over-year basis. As a group, equities analysts predict that U.S. Bancorp will post 5.09 EPS for the current fiscal year.
U.S. Bancorp Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Tuesday, June 30th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 43.61%.
Analyst Ratings Changes
Several analysts have commented on USB shares. Oppenheimer dropped their target price on shares of U.S. Bancorp from $74.00 to $73.00 and set an “outperform” rating on the stock in a report on Tuesday, June 30th. Wells Fargo & Company upped their price target on shares of U.S. Bancorp from $62.00 to $66.00 and gave the company an “overweight” rating in a report on Monday. Royal Bank Of Canada increased their price objective on shares of U.S. Bancorp from $59.00 to $61.00 and gave the stock an “outperform” rating in a research report on Friday, April 17th. Stephens assumed coverage on shares of U.S. Bancorp in a report on Monday, June 15th. They set an “equal weight” rating and a $63.00 price objective on the stock. Finally, Barclays boosted their price objective on shares of U.S. Bancorp from $65.00 to $67.00 and gave the company an “overweight” rating in a research report on Friday, April 17th. Fifteen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $63.92.
Get Our Latest Stock Report on USB
Insider Buying and Selling
In related news, insider Jodi L. Richard sold 40,000 shares of the stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total value of $2,280,000.00. Following the sale, the insider owned 207,251 shares in the company, valued at approximately $11,813,307. This represents a 16.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Venkatachari Dilip sold 34,522 shares of the firm’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total value of $1,916,661.44. Following the sale, the executive vice president directly owned 51,292 shares of the company’s stock, valued at $2,847,731.84. This represents a 40.23% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.21% of the company’s stock.
About U.S. Bancorp
U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.
Headquartered in Minneapolis, Minnesota, U.S.
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