Sound View Wealth Advisors Group LLC Sells 1,515 Shares of U.S. Bancorp $USB

Sound View Wealth Advisors Group LLC reduced its stake in shares of U.S. Bancorp (NYSE:USB) by 10.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,741 shares of the financial services provider’s stock after selling 1,515 shares during the quarter. Sound View Wealth Advisors Group LLC’s holdings in U.S. Bancorp were worth $577,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Curbstone Financial Management Corp increased its position 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 valued at $1,809,000 after buying an additional 222 shares during the period. Crestwood Advisors Group LLC grew its holdings in shares of U.S. Bancorp by 3.5% during the 2nd quarter. Crestwood Advisors Group LLC now owns 7,021 shares of the financial services provider’s stock worth $318,000 after acquiring an additional 237 shares during the period. Mechanics Financial Corp raised its position in shares of U.S. Bancorp by 5.3% in the 2nd quarter. Mechanics Financial Corp now owns 4,806 shares of the financial services provider’s stock worth $217,000 after acquiring an additional 240 shares in the last quarter. Northern Financial Advisors Inc raised its position in shares of U.S. Bancorp by 5.0% in the 2nd quarter. Northern Financial Advisors Inc now owns 5,033 shares of the financial services provider’s stock worth $228,000 after acquiring an additional 241 shares in the last quarter. Finally, Lawson Kroeker Investment Management Inc. NE lifted its stake in shares of U.S. Bancorp by 0.5% in the 2nd 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 purchasing an additional 249 shares during the period. 77.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on USB. Cowen reaffirmed a “buy” rating on shares of U.S. Bancorp in a research note on Monday, October 20th. DA Davidson increased their price target on shares of U.S. Bancorp from $57.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, October 17th. Truist Financial lifted their price target on shares of U.S. Bancorp from $51.00 to $52.00 and gave the company a “hold” rating in a research report on Friday, October 17th. Deutsche Bank Aktiengesellschaft upgraded shares of 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, Wall Street Zen upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Friday, July 18th. One equities 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $54.55.

U.S. Bancorp Trading Up 1.0%

NYSE:USB opened at $47.32 on Monday. The stock has a market cap of $73.64 billion, a price-to-earnings ratio of 10.83, a PEG ratio of 1.25 and a beta of 1.10. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.10. The company’s 50 day moving average price is $47.95 and its 200-day moving average price is $45.88. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $53.98.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.22 earnings per share for the quarter, topping 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 analyst estimates of $7.17 billion. During the same period in the previous year, the business earned $1.03 EPS. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. On average, equities research analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were given 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 dividend on an annualized basis and a yield of 4.4%. U.S. Bancorp’s payout ratio is presently 47.60%.

Insider Activity

In other news, EVP James L. Chosy sold 26,909 shares of the firm’s stock in a transaction dated 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 owned 226,375 shares of the company’s stock, valued at $10,607,932.50. This trade represents a 10.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Andrew Cecere sold 140,445 shares of U.S. Bancorp stock in a transaction that occurred 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 completion of the sale, the chairman owned 1,360,414 shares of the company’s stock, valued at $63,041,584.76. This represents a 9.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.23% of the stock is currently owned by corporate insiders.

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.