U.S. Bancorp (NYSE:USB) Shares Sold by Transform Wealth LLC

Transform Wealth LLC cut its stake in shares of U.S. Bancorp (NYSE:USBGet Rating) by 7.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,926 shares of the financial services provider’s stock after selling 1,756 shares during the quarter. Transform Wealth LLC’s holdings in U.S. Bancorp were worth $973,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of U.S. Bancorp by 2.4% in the first quarter. Vanguard Group Inc. now owns 111,805,389 shares of the financial services provider’s stock valued at $5,942,456,000 after purchasing an additional 2,618,810 shares in the last quarter. BlackRock Inc. increased its holdings in shares of U.S. Bancorp by 1.9% during the first quarter. BlackRock Inc. now owns 97,457,184 shares of the financial services provider’s stock worth $5,179,851,000 after buying an additional 1,840,496 shares in the last quarter. State Street Corp increased its holdings in shares of U.S. Bancorp by 0.3% in the first quarter. State Street Corp now owns 63,300,947 shares of the financial services provider’s stock valued at $3,393,153,000 after purchasing an additional 190,720 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in U.S. Bancorp by 7.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 22,052,957 shares of the financial services provider’s stock worth $1,172,115,000 after acquiring an additional 1,622,711 shares during the period. Finally, Northern Trust Corp boosted its position in shares of U.S. Bancorp by 1.7% during the first quarter. Northern Trust Corp now owns 17,793,541 shares of the financial services provider’s stock worth $945,727,000 after purchasing an additional 303,443 shares in the last quarter. 74.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Citigroup upped their price target on shares of U.S. Bancorp to $52.00 in a research note on Friday, July 22nd. Piper Sandler set a $50.00 price objective on shares of U.S. Bancorp in a research note on Tuesday, July 19th. Royal Bank of Canada decreased their price objective on shares of U.S. Bancorp from $66.00 to $60.00 and set an “outperform” rating for the company in a report on Friday, July 1st. Oppenheimer set a $68.00 price objective on shares of U.S. Bancorp in a research note on Tuesday, July 19th. Finally, Morgan Stanley lifted their target price on shares of U.S. Bancorp from $54.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Monday, July 18th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, U.S. Bancorp currently has a consensus rating of “Hold” and a consensus target price of $58.56.

U.S. Bancorp Stock Performance

Shares of NYSE:USB traded down $1.23 during trading on Friday, hitting $41.80. 226,310 shares of the stock were exchanged, compared to its average volume of 7,130,375. U.S. Bancorp has a 1-year low of $43.00 and a 1-year high of $63.57. The company has a market capitalization of $62.11 billion, a price-to-earnings ratio of 9.62, a price-to-earnings-growth ratio of 1.52 and a beta of 0.97. The company’s fifty day simple moving average is $46.91 and its 200-day simple moving average is $49.37. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.74 and a current ratio of 0.75.

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

U.S. Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be given a $0.48 dividend. The ex-dividend date of this dividend is Thursday, September 29th. 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 4.59%. U.S. Bancorp’s dividend payout ratio (DPR) is 42.30%.

About U.S. Bancorp

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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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