Howard Capital Management Inc. Has $423,000 Holdings in U.S. Bancorp $USB

Howard Capital Management Inc. lessened its stake in U.S. Bancorp (NYSE:USB) by 40.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,243 shares of the financial services provider’s stock after selling 6,176 shares during the quarter. Howard Capital Management Inc.’s holdings in U.S. Bancorp were worth $423,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. IMG Wealth Management Inc. acquired a new stake in shares of U.S. Bancorp in the second quarter valued at approximately $25,000. Saudi Central Bank acquired a new stake in shares of U.S. Bancorp in the 1st quarter valued at $26,000. YANKCOM Partnership increased its stake in shares of U.S. Bancorp by 59.4% in the 1st quarter. YANKCOM Partnership now owns 698 shares of the financial services provider’s stock valued at $29,000 after buying an additional 260 shares during the period. Cornerstone Planning Group LLC increased its stake in shares of 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 valued at $31,000 after buying an additional 420 shares during the period. Finally, Activest Wealth Management increased its stake in shares of U.S. Bancorp by 846.5% in the 2nd quarter. Activest Wealth Management now owns 814 shares of the financial services provider’s stock valued at $37,000 after buying an additional 728 shares during the period. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Price Performance

U.S. Bancorp stock opened at $46.56 on Thursday. The firm has a market capitalization of $72.45 billion, a P/E ratio of 10.65, a PEG 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 has a 50-day moving average of $48.16 and a 200-day moving average of $45.42. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.10.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data 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 firm had revenue of $7.34 billion during the quarter, compared to analysts’ expectations of $7.17 billion. U.S. Bancorp had a net margin of 16.89% and a return on equity of 13.34%. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.03 earnings per share. On average, equities analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were issued a $0.52 dividend. This is a positive change 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 annualized dividend and a dividend yield of 4.5%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 47.60%.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, EVP James L. Chosy sold 26,909 shares of the business’s stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $46.86, for a total value of $1,260,955.74. Following the completion of the transaction, the executive vice president directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Andrew Cecere sold 140,445 shares of the business’s stock in a transaction dated 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 completion of the transaction, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.23% of the stock is owned by insiders.

Wall Street Analyst Weigh In

USB has been the subject of a number of research reports. Oppenheimer lowered their price objective on U.S. Bancorp from $67.00 to $66.00 and set an “outperform” rating for the company in a research report on Tuesday, September 23rd. Raymond James Financial upgraded U.S. Bancorp from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the stock from $51.00 to $57.00 in a research report on Monday, July 7th. Weiss Ratings reiterated a “buy (b-)” rating on shares of U.S. Bancorp in a research report on Wednesday, October 8th. Evercore ISI lifted their price target on shares of U.S. Bancorp from $49.00 to $54.00 and gave the stock an “in-line” rating in a research report on Tuesday, September 30th. Finally, UBS Group lifted their target price on shares of U.S. Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a report on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $54.55.

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.