Walkner Condon Financial Advisors LLC Sells 1,262 Shares of U.S. Bancorp $USB

Walkner Condon Financial Advisors LLC decreased its holdings in U.S. Bancorp (NYSE:USB) by 1.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 87,145 shares of the financial services provider’s stock after selling 1,262 shares during the period. Walkner Condon Financial Advisors LLC’s holdings in U.S. Bancorp were worth $3,943,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in USB. Nuveen LLC purchased a new position in U.S. Bancorp in the 1st quarter worth approximately $138,183,000. Vanguard Group Inc. boosted its position in shares of U.S. Bancorp by 1.7% during 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 acquiring an additional 2,393,383 shares during the last quarter. American Century Companies Inc. grew its stake in U.S. Bancorp by 17.4% during the first quarter. American Century Companies Inc. now owns 10,070,174 shares of the financial services provider’s stock valued at $425,163,000 after acquiring an additional 1,493,318 shares in the last quarter. Nordea Investment Management AB lifted its stake in U.S. Bancorp by 192.0% in the 2nd quarter. Nordea Investment Management AB now owns 1,994,993 shares of the financial services provider’s stock worth $90,752,000 after purchasing an additional 1,311,746 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings 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 valued at $464,953,000 after buying an additional 1,045,509 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, Chairman Andrew Cecere sold 140,445 shares of the firm’s stock in a transaction 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 completion of the transaction, the chairman owned 1,360,414 shares of the company’s stock, valued at approximately $63,041,584.76. This trade represents a 9.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP James L. Chosy sold 26,909 shares of the business’s stock in a transaction on Monday, October 20th. The shares were sold at an average price of $46.86, for a total transaction of $1,260,955.74. Following the sale, the executive vice president directly 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 SEC filing for this sale provides additional information. Company insiders own 0.23% of the company’s stock.

U.S. Bancorp Price Performance

USB opened at $46.58 on Friday. The firm has a market capitalization of $72.49 billion, a PE ratio of 10.70, a price-to-earnings-growth ratio of 1.25 and a beta of 1.10. The business’s 50-day moving average is $47.99 and its two-hundred day moving average is $45.73. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $53.98. 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 posted its earnings results on Thursday, October 16th. The financial services provider reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.11. U.S. Bancorp had a net margin of 16.89% and a return on equity of 13.34%. The company had revenue of $7.34 billion during the quarter, compared to analysts’ expectations of $7.17 billion. During the same quarter in the prior year, the company posted $1.03 earnings per share. U.S. Bancorp’s revenue for the quarter was up 6.8% compared to the same quarter last year. Research analysts anticipate 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 disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were issued a dividend of $0.52 per share. 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. The ex-dividend date was Tuesday, September 30th. U.S. Bancorp’s dividend payout ratio is currently 47.60%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on USB shares. Evercore ISI upped their price objective on U.S. Bancorp from $49.00 to $54.00 and gave the company an “in-line” rating in a research report on Tuesday, September 30th. UBS Group raised their price target on U.S. Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 7th. Wells Fargo & Company upped their target price 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. DA Davidson upped their price target on shares of U.S. Bancorp from $57.00 to $59.00 and gave the stock a “buy” rating in a report on Friday, October 17th. Finally, Truist Financial upped their target price on shares of U.S. Bancorp from $51.00 to $52.00 and gave the stock a “hold” rating in a research note 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 company. According to MarketBeat, U.S. Bancorp currently has an average rating of “Moderate Buy” and a consensus 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.