Resonant Capital Advisors LLC Has $2.50 Million Position in U.S. Bancorp $USB

Resonant Capital Advisors LLC boosted its holdings in U.S. Bancorp (NYSE:USB) by 3.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,566 shares of the financial services provider’s stock after buying an additional 1,682 shares during the quarter. Resonant Capital Advisors LLC’s holdings in U.S. Bancorp were worth $2,496,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Nuveen LLC acquired a new position in U.S. Bancorp in the 1st quarter valued at approximately $138,183,000. Vanguard Group Inc. grew its stake in shares of U.S. Bancorp by 1.7% in the first quarter. Vanguard Group Inc. now owns 141,230,279 shares of the financial services provider’s stock worth $5,962,742,000 after purchasing an additional 2,393,383 shares during the last quarter. American Century Companies Inc. grew its stake in shares of U.S. Bancorp by 17.4% in the first quarter. American Century Companies Inc. now owns 10,070,174 shares of the financial services provider’s stock worth $425,163,000 after purchasing an additional 1,493,318 shares during the last quarter. Nordea Investment Management AB increased its holdings in U.S. Bancorp by 192.0% in the second quarter. Nordea Investment Management AB now owns 1,994,993 shares of the financial services provider’s stock valued at $90,752,000 after purchasing an additional 1,311,746 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in U.S. Bancorp by 10.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 11,012,635 shares of the financial services provider’s stock worth $464,953,000 after purchasing an additional 1,045,509 shares during the last quarter. 77.60% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP James L. Chosy sold 26,909 shares of the company’s stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $46.86, for a total transaction of $1,260,955.74. Following the transaction, 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 Securities & Exchange Commission, which is available through this link. Also, Chairman Andrew Cecere sold 140,445 shares of U.S. Bancorp stock in a transaction on Monday, October 20th. The shares were sold at an average price of $46.34, for a total transaction of $6,508,221.30. Following the completion of the sale, the chairman directly owned 1,360,414 shares of the company’s stock, valued at approximately $63,041,584.76. The trade was a 9.36% decrease in their position. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on USB. Evercore ISI increased their price target on U.S. Bancorp from $49.00 to $54.00 and gave the company an “in-line” rating in a research note on Tuesday, September 30th. Oppenheimer cut their price objective on 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. Bank of America increased their target price on shares of U.S. Bancorp from $54.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, October 17th. TD Cowen raised their price target on shares of U.S. Bancorp from $59.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, October 20th. Finally, Wells Fargo & Company increased their price objective on shares of U.S. Bancorp from $50.00 to $52.00 and gave the stock an “overweight” rating in a research report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $54.55.

U.S. Bancorp Price Performance

U.S. Bancorp stock opened at $48.31 on Friday. The stock has a market capitalization of $75.17 billion, a price-to-earnings ratio of 11.05, a PEG ratio of 1.29 and a beta of 1.06. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $53.98. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.82 and a current ratio of 0.82. The stock’s 50 day moving average price is $48.10 and its two-hundred day moving average price is $45.19.

U.S. Bancorp (NYSE:USB) last released its earnings results on Thursday, October 16th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.11. The company had revenue of $7.34 billion for the quarter, compared to the consensus estimate of $7.17 billion. U.S. Bancorp had a net margin of 16.89% and a return on equity of 13.34%. U.S. Bancorp’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.03 EPS. On average, equities analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current 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 $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.3%. 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. U.S. Bancorp’s payout ratio 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.