Forvis Mazars Wealth Advisors LLC Lowers Stock Holdings in U.S. Bancorp $USB

Forvis Mazars Wealth Advisors LLC decreased its position in shares of U.S. Bancorp (NYSE:USB) by 34.9% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,125 shares of the financial services provider’s stock after selling 5,437 shares during the quarter. Forvis Mazars Wealth Advisors LLC’s holdings in U.S. Bancorp were worth $458,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Saudi Central Bank purchased a new position in shares of U.S. Bancorp during the 1st quarter valued at $26,000. Westend Capital Management LLC purchased a new stake in U.S. Bancorp in the 1st quarter worth $27,000. YANKCOM Partnership lifted its stake in U.S. Bancorp by 59.4% in the 1st quarter. YANKCOM Partnership now owns 698 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 260 shares in the last quarter. Alpine Bank Wealth Management purchased a new stake in U.S. Bancorp in the 1st quarter worth $30,000. Finally, Cornerstone Planning Group LLC lifted its stake in U.S. Bancorp by 118.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 776 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 420 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Trading Up 0.0%

USB opened at $45.66 on Monday. The firm has a market cap of $71.06 billion, a P/E ratio of 10.45, a P/E/G ratio of 1.31 and a beta of 1.06. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $53.98. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.10. The stock has a 50-day moving average of $47.93 and a 200 day moving average of $44.86.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.22 EPS for the quarter, topping the consensus estimate of $1.11 by $0.11. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.The company had revenue of $7.34 billion during the quarter, compared to analyst estimates of $7.17 billion. During the same quarter last year, the business posted $1.03 earnings per share. The firm’s revenue was up 6.8% on a year-over-year basis. As a group, research analysts forecast that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Increases Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $2.08 dividend on an annualized basis and a yield of 4.6%. U.S. Bancorp’s dividend payout ratio is currently 47.60%.

Analysts Set New Price Targets

Several analysts have commented on USB shares. Citigroup boosted their price target on shares of U.S. Bancorp from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday. DA Davidson boosted 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 note on Friday. Oppenheimer decreased their price target on shares of U.S. Bancorp from $67.00 to $66.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 23rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of U.S. Bancorp in a research note on Wednesday, October 8th. Finally, The Goldman Sachs Group set a $52.00 target price on shares of U.S. Bancorp and gave the company a “neutral” rating in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $54.48.

About U.S. Bancorp

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.