HBK Sorce Advisory LLC Sells 4,815 Shares of U.S. Bancorp $USB

HBK Sorce Advisory LLC cut its position in U.S. Bancorp (NYSE:USB) by 8.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 55,485 shares of the financial services provider’s stock after selling 4,815 shares during the period. HBK Sorce Advisory LLC’s holdings in U.S. Bancorp were worth $2,511,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Crestwood Advisors Group LLC raised its stake in U.S. Bancorp by 10.6% during the 1st quarter. Crestwood Advisors Group LLC now owns 6,784 shares of the financial services provider’s stock valued at $286,000 after purchasing an additional 649 shares during the period. Ally Financial Inc. raised its stake in U.S. Bancorp by 12.3% during the 1st quarter. Ally Financial Inc. now owns 91,000 shares of the financial services provider’s stock valued at $3,842,000 after purchasing an additional 10,000 shares during the period. United Community Bank raised its stake in U.S. Bancorp by 21.8% during the 1st quarter. United Community Bank now owns 49,066 shares of the financial services provider’s stock valued at $2,072,000 after purchasing an additional 8,796 shares during the period. Jump Financial LLC raised its stake in U.S. Bancorp by 1,952.5% during the 1st quarter. Jump Financial LLC now owns 840,308 shares of the financial services provider’s stock valued at $35,478,000 after purchasing an additional 799,368 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in U.S. Bancorp by 7.2% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 233,157 shares of the financial services provider’s stock valued at $9,844,000 after purchasing an additional 15,743 shares during the period. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Wall Street Analyst Weigh In

USB has been the topic of several recent analyst reports. Evercore ISI lifted their target price 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 decreased their target price 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. Cowen reissued a “buy” rating on shares of U.S. Bancorp in a research note on Monday, October 20th. Deutsche Bank Aktiengesellschaft raised U.S. Bancorp from a “hold” rating to a “buy” rating and set a $52.50 price objective on the stock in a report on Thursday, October 23rd. Finally, Wells Fargo & Company upped their price objective on U.S. Bancorp from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $54.55.

U.S. Bancorp Stock Down 1.5%

Shares of USB opened at $46.56 on Thursday. The stock has a market capitalization of $72.45 billion, a price-to-earnings ratio of 10.65, a price-to-earnings-growth ratio of 1.26 and a beta of 1.06. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $53.98. The business’s 50 day simple moving average is $48.16 and its 200-day simple moving average is $45.42. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.82 and a quick ratio of 0.82.

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

U.S. Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $2.08 annualized dividend and a dividend yield of 4.5%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.50. U.S. Bancorp’s dividend payout ratio is presently 47.60%.

Insider Activity at U.S. Bancorp

In other news, EVP James L. Chosy sold 26,909 shares of the business’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 owned 226,375 shares of the company’s stock, valued at approximately $10,607,932.50. The trade was a 10.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Andrew Cecere sold 140,445 shares of the business’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 transaction, the chairman directly owned 1,360,414 shares in the company, valued at approximately $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.

U.S. Bancorp 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.