Transcend Capital Advisors LLC Reduces Stock Position in U.S. Bancorp (NYSE:USB)

Transcend Capital Advisors LLC lessened its position in shares of U.S. Bancorp (NYSE:USBGet Rating) by 4.9% during the 2nd quarter, Holdings Channel reports. The firm owned 8,639 shares of the financial services provider’s stock after selling 449 shares during the quarter. Transcend Capital Advisors LLC’s holdings in U.S. Bancorp were worth $398,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently modified their holdings of USB. BTR Capital Management Inc. raised its holdings in U.S. Bancorp by 2.7% in the 2nd quarter. BTR Capital Management Inc. now owns 285,909 shares of the financial services provider’s stock worth $13,288,000 after purchasing an additional 7,388 shares during the period. BMS Financial Advisors LLC raised its holdings in U.S. Bancorp by 2.8% in the 2nd quarter. BMS Financial Advisors LLC now owns 11,801 shares of the financial services provider’s stock worth $543,000 after purchasing an additional 326 shares during the period. TPG Financial Advisors LLC raised its holdings in U.S. Bancorp by 33.4% in the 2nd quarter. TPG Financial Advisors LLC now owns 6,904 shares of the financial services provider’s stock worth $318,000 after purchasing an additional 1,729 shares during the period. Cooper Financial Group raised its holdings in U.S. Bancorp by 6.8% in the 2nd quarter. Cooper Financial Group now owns 5,077 shares of the financial services provider’s stock worth $234,000 after purchasing an additional 324 shares during the period. Finally, Innova Wealth Partners raised its holdings in U.S. Bancorp by 28.4% in the 2nd quarter. Innova Wealth Partners now owns 5,065 shares of the financial services provider’s stock worth $233,000 after purchasing an additional 1,120 shares during the period. Hedge funds and other institutional investors own 74.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Jefferies Financial Group reduced their target price on U.S. Bancorp from $52.00 to $45.00 in a report on Monday, July 11th. Piper Sandler set a $50.00 target price on U.S. Bancorp in a report on Tuesday, July 19th. Credit Suisse Group reduced their target price on U.S. Bancorp from $57.00 to $54.00 and set a “neutral” rating for the company in a report on Tuesday, July 19th. Morgan Stanley increased their price target on U.S. Bancorp from $54.00 to $57.00 and gave the company an “equal weight” rating in a report on Monday, July 18th. Finally, Wells Fargo & Company cut their price target on U.S. Bancorp from $70.00 to $60.00 and set an “overweight” rating for the company in a report on Friday, July 1st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $58.56.

U.S. Bancorp Trading Down 2.4 %

USB opened at $43.93 on Thursday. U.S. Bancorp has a 52 week low of $43.74 and a 52 week high of $63.57. The business has a fifty day simple moving average of $46.93 and a 200-day simple moving average of $49.41. The firm has a market cap of $65.27 billion, a P/E ratio of 10.10, a P/E/G ratio of 1.60 and a beta of 0.97. The company has a quick ratio of 0.74, a current ratio of 0.75 and a debt-to-equity ratio of 0.70.

U.S. Bancorp (NYSE:USBGet Rating) last released its quarterly earnings results on Friday, July 15th. The financial services provider reported $1.09 EPS for the quarter, topping the consensus estimate of $1.07 by $0.02. U.S. Bancorp had a return on equity of 15.05% and a net margin of 28.08%. The business had revenue of $6.01 billion during the quarter, compared to analyst estimates of $5.89 billion. During the same period last year, the business posted $1.28 earnings per share. The company’s quarterly revenue was up 4.0% on a year-over-year basis. On average, equities analysts expect that U.S. Bancorp will post 4.45 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be given a dividend of $0.48 per share. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.46. This represents a $1.92 annualized dividend and a dividend yield of 4.37%. The ex-dividend date of this dividend is Thursday, September 29th. U.S. Bancorp’s dividend payout ratio (DPR) is currently 42.30%.

About U.S. Bancorp

(Get Rating)

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 in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments.

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Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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