Harvest Portfolios Group Inc. Has $5.97 Million Stock Holdings in U.S. Bancorp $USB

Harvest Portfolios Group Inc. reduced its holdings in U.S. Bancorp (NYSE:USB) by 9.8% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 131,884 shares of the financial services provider’s stock after selling 14,358 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in U.S. Bancorp were worth $5,968,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Paulson Wealth Management Inc. lifted its holdings in U.S. Bancorp by 5.3% during the 2nd quarter. Paulson Wealth Management Inc. now owns 9,380 shares of the financial services provider’s stock worth $424,000 after buying an additional 469 shares during the period. Savant Capital LLC raised its position in shares of U.S. Bancorp by 2.9% during the second quarter. Savant Capital LLC now owns 61,513 shares of the financial services provider’s stock worth $2,783,000 after acquiring an additional 1,758 shares during the last quarter. Excalibur Management Corp lifted its stake in shares of U.S. Bancorp by 2.7% in the second quarter. Excalibur Management Corp now owns 10,604 shares of the financial services provider’s stock worth $480,000 after acquiring an additional 275 shares during the period. OneAscent Wealth Management LLC bought a new stake in U.S. Bancorp in the second quarter valued at approximately $2,623,000. Finally, Soltis Investment Advisors LLC increased its position in U.S. Bancorp by 9.5% during the 2nd quarter. Soltis Investment Advisors LLC now owns 6,087 shares of the financial services provider’s stock valued at $275,000 after purchasing an additional 526 shares during the period. Institutional investors own 77.60% of the company’s stock.

Insider Buying and Selling

In other 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 value of $1,260,955.74. Following the completion of the sale, the executive vice president directly owned 226,375 shares of the company’s stock, valued at $10,607,932.50. This represents a 10.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 completion of the transaction, the chairman owned 1,360,414 shares in the company, valued at $63,041,584.76. This represents a 9.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.23% of the company’s stock.

Analyst Upgrades and Downgrades

USB has been the topic of a number of analyst reports. Truist Financial upped their price objective on shares of U.S. Bancorp from $51.00 to $52.00 and gave the company a “hold” rating in a research note on Friday, October 17th. Wall Street Zen upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Friday, July 18th. Weiss Ratings reiterated a “buy (b-)” rating on shares of U.S. Bancorp in a report on Wednesday, October 8th. Evercore ISI upped their target price on 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. Finally, DA Davidson lifted their target price on U.S. Bancorp from $57.00 to $59.00 and gave the stock a “buy” rating in a report on Friday, October 17th. One investment 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 issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $54.55.

U.S. Bancorp Stock Performance

Shares of USB stock opened at $46.83 on Friday. The firm has a market capitalization of $72.88 billion, a PE ratio of 10.72, a price-to-earnings-growth ratio of 1.25 and a beta of 1.10. The firm has a fifty day simple moving average of $47.99 and a two-hundred day simple moving average of $45.73. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.10. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $53.98.

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 analysts’ consensus estimates of $1.11 by $0.11. The firm had revenue of $7.34 billion for the quarter, compared to analyst estimates of $7.17 billion. U.S. Bancorp had a net margin of 16.89% and a return on equity of 13.34%. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period last year, the firm earned $1.03 earnings per share. Analysts forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were paid a dividend of $0.52 per share. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.50. The ex-dividend date was Tuesday, September 30th. This represents a $2.08 dividend on an annualized basis and a yield of 4.4%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 47.60%.

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.