Harvest Portfolios Group Inc. Has $5.97 Million Stake in U.S. Bancorp $USB

Harvest Portfolios Group Inc. reduced its holdings in shares of U.S. Bancorp (NYSE:USB) by 9.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 131,884 shares of the financial services provider’s stock after selling 14,358 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in U.S. Bancorp were worth $5,968,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Curbstone Financial Management Corp increased its stake in shares of U.S. Bancorp by 0.6% during the second quarter. Curbstone Financial Management Corp now owns 39,982 shares of the financial services provider’s stock worth $1,809,000 after purchasing an additional 222 shares during the period. Crestwood Advisors Group LLC grew its holdings in U.S. Bancorp by 3.5% in the 2nd quarter. Crestwood Advisors Group LLC now owns 7,021 shares of the financial services provider’s stock valued at $318,000 after buying an additional 237 shares in the last quarter. Mechanics Financial Corp increased its position in U.S. Bancorp by 5.3% during the 2nd quarter. Mechanics Financial Corp now owns 4,806 shares of the financial services provider’s stock worth $217,000 after buying an additional 240 shares during the period. Northern Financial Advisors Inc increased its position in U.S. Bancorp by 5.0% during the 2nd quarter. Northern Financial Advisors Inc now owns 5,033 shares of the financial services provider’s stock worth $228,000 after buying an additional 241 shares during the period. Finally, Lawson Kroeker Investment Management Inc. NE boosted its position in shares of U.S. Bancorp by 0.5% in the second quarter. Lawson Kroeker Investment Management Inc. NE now owns 46,109 shares of the financial services provider’s stock valued at $2,086,000 after acquiring an additional 249 shares during the period. Institutional investors own 77.60% of the company’s stock.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, EVP James L. Chosy sold 26,909 shares of the firm’s stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $46.86, for a total value of $1,260,955.74. Following the sale, the executive vice president owned 226,375 shares in the company, valued at $10,607,932.50. This trade represents a 10.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Andrew Cecere sold 140,445 shares of the business’s stock in a transaction on Monday, October 20th. The stock was sold at an average price of $46.34, for a total transaction of $6,508,221.30. Following the sale, the chairman directly owned 1,360,414 shares in the company, valued at approximately $63,041,584.76. The trade was a 9.36% decrease in their position. The SEC filing for this sale provides additional information. 0.23% of the stock is owned by corporate insiders.

U.S. Bancorp Trading Up 0.2%

Shares of USB opened at $46.83 on Friday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.82 and a current ratio of 0.82. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $53.98. The firm has a market cap of $72.88 billion, a price-to-earnings ratio of 10.72, a PEG ratio of 1.25 and a beta of 1.10. The business’s fifty day moving average is $47.99 and its 200-day moving average is $45.73.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data 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. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.The business had revenue of $7.34 billion for the quarter, compared to analyst estimates of $7.17 billion. During the same period last year, the firm posted $1.03 earnings per share. U.S. Bancorp’s revenue was up 6.8% compared to the same quarter last year. Equities analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were issued a dividend of $0.52 per share. This is a boost 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 4.4%. U.S. Bancorp’s payout ratio is presently 47.60%.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Evercore ISI boosted their price objective on shares of U.S. Bancorp from $49.00 to $54.00 and gave the company an “in-line” rating in a report on Tuesday, September 30th. Wells Fargo & Company boosted their price target on U.S. Bancorp from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Friday, October 17th. Wall Street Zen raised U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. Cowen restated a “buy” rating on shares of U.S. Bancorp in a research note on Monday, October 20th. Finally, Oppenheimer cut their target price 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. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company 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.