TD Private Client Wealth LLC Trims Position in U.S. Bancorp $USB

TD Private Client Wealth LLC cut its stake in shares of U.S. Bancorp (NYSE:USB) by 29.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 141,699 shares of the financial services provider’s stock after selling 59,415 shares during the period. TD Private Client Wealth LLC’s holdings in U.S. Bancorp were worth $6,848,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of USB. Brighton Jones LLC increased its holdings in U.S. Bancorp by 323.0% during the 4th quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider’s stock worth $2,309,000 after acquiring an additional 36,863 shares during the period. Empowered Funds LLC boosted its holdings in U.S. Bancorp by 2.1% in the 1st quarter. Empowered Funds LLC now owns 34,411 shares of the financial services provider’s stock valued at $1,453,000 after purchasing an additional 714 shares during the period. Intech Investment Management LLC boosted its holdings in U.S. Bancorp by 18.9% in the 1st quarter. Intech Investment Management LLC now owns 39,276 shares of the financial services provider’s stock valued at $1,658,000 after purchasing an additional 6,252 shares during the period. Belpointe Asset Management LLC grew its position in shares of U.S. Bancorp by 7.2% during the 1st quarter. Belpointe Asset Management LLC now owns 8,462 shares of the financial services provider’s stock valued at $357,000 after purchasing an additional 566 shares in the last quarter. Finally, Parallel Advisors LLC grew its position in shares of U.S. Bancorp by 6.6% during the 2nd quarter. Parallel Advisors LLC now owns 21,312 shares of the financial services provider’s stock valued at $964,000 after purchasing an additional 1,320 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors.

U.S. Bancorp Price Performance

USB opened at $54.39 on Tuesday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.10. The stock has a market capitalization of $84.55 billion, a P/E ratio of 12.45, a PEG ratio of 0.96 and a beta of 1.07. The stock has a 50-day moving average price of $51.23 and a 200-day moving average price of $48.63. U.S. Bancorp has a 12-month low of $35.18 and a 12-month high of $56.19.

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, beating analysts’ consensus estimates of $1.11 by $0.11. The company had revenue of $7.34 billion for the quarter, compared to analysts’ expectations of $7.17 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.U.S. Bancorp’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period last year, the firm posted $1.03 EPS. Equities analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be paid a $0.52 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.8%. U.S. Bancorp’s dividend payout ratio is 47.60%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on USB shares. Bank of America increased their price objective on U.S. Bancorp from $54.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Wolfe Research lowered U.S. Bancorp from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 7th. TD Cowen raised their price target on U.S. Bancorp from $60.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, January 7th. Weiss Ratings reiterated a “buy (b-)” rating on shares of U.S. Bancorp in a research report on Wednesday, October 8th. Finally, Truist Financial upped their price objective on shares of U.S. Bancorp from $52.00 to $58.00 and gave the stock a “hold” rating in a research report on Thursday, December 18th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $56.30.

Insider Buying and Selling at U.S. Bancorp

In related news, EVP James L. Chosy sold 26,909 shares of the 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 transaction, the executive vice president owned 226,375 shares of the company’s stock, valued at approximately $10,607,932.50. This trade represents a 10.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 completion of the sale, the chairman directly 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. Additional details regarding this sale are available in the official SEC disclosure. 0.23% of the stock is currently owned by company insiders.

U.S. Bancorp Profile

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.