Wrapmanager Inc. Sells 2,535 Shares of U.S. Bancorp $USB

Wrapmanager Inc. trimmed its holdings in U.S. Bancorp (NYSE:USB) by 23.4% in the second quarter, Holdings Channel reports. The institutional investor owned 8,319 shares of the financial services provider’s stock after selling 2,535 shares during the quarter. Wrapmanager Inc.’s holdings in U.S. Bancorp were worth $376,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Crestwood Advisors Group LLC boosted its position in shares of U.S. Bancorp by 10.6% in the first quarter. Crestwood Advisors Group LLC now owns 6,784 shares of the financial services provider’s stock valued at $286,000 after acquiring an additional 649 shares during the period. Ally Financial Inc. lifted its stake in U.S. Bancorp by 12.3% in the 1st quarter. Ally Financial Inc. now owns 91,000 shares of the financial services provider’s stock worth $3,842,000 after purchasing an additional 10,000 shares in the last quarter. Andra AP fonden boosted its holdings in U.S. Bancorp by 175.6% in the 2nd quarter. Andra AP fonden now owns 458,400 shares of the financial services provider’s stock valued at $20,743,000 after purchasing an additional 292,100 shares during the period. Jump Financial LLC grew its position in shares of 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 in the last quarter. Finally, Texas Capital Bank Wealth Management Services Inc bought a new position in shares of U.S. Bancorp in the first quarter worth $428,000. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Performance

Shares of NYSE USB opened at $47.29 on Friday. The stock’s 50-day moving average is $47.86 and its 200 day moving average is $46.01. The stock has a market cap of $73.51 billion, a price-to-earnings ratio of 10.82, a P/E/G ratio of 1.25 and a beta of 1.10. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $53.98. 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 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. The business had revenue of $7.34 billion for 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 quarterly revenue was up 6.8% on a year-over-year basis. During the same period last year, the business earned $1.03 earnings per share. On average, sell-side analysts anticipate that U.S. Bancorp will post 4.38 EPS 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. Investors of record on Tuesday, September 30th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date was Tuesday, September 30th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.50. U.S. Bancorp’s dividend payout ratio is 47.60%.

Insiders Place Their Bets

In other U.S. Bancorp news, Chairman Andrew Cecere sold 140,445 shares of the business’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 sale, the chairman directly owned 1,360,414 shares of the company’s stock, valued at $63,041,584.76. The trade was a 9.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 value of $1,260,955.74. Following the transaction, 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. 0.23% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on USB. Deutsche Bank Aktiengesellschaft upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and set a $52.50 target price for the company in a research report on Thursday, October 23rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of U.S. Bancorp in a research report on Wednesday, October 8th. Cowen restated a “buy” rating on shares of U.S. Bancorp in a research report on Monday, October 20th. Wells Fargo & Company raised their target price on shares of U.S. Bancorp from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Friday, October 17th. Finally, TD Cowen boosted their price target on shares of U.S. Bancorp from $59.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, October 20th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock 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.