Professional Advisory Services Inc. Sells 15,507 Shares of U.S. Bancorp $USB

Professional Advisory Services Inc. trimmed its position in U.S. Bancorp (NYSE:USB) by 3.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 403,988 shares of the financial services provider’s stock after selling 15,507 shares during the quarter. U.S. Bancorp accounts for approximately 2.9% of Professional Advisory Services Inc.’s holdings, making the stock its 19th biggest holding. Professional Advisory Services Inc.’s holdings in U.S. Bancorp were worth $24,401,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dogwood Wealth Management LLC lifted its position in shares of U.S. Bancorp by 32.9% during the 2nd quarter. Dogwood Wealth Management LLC now owns 687 shares of the financial services provider’s stock valued at $41,000 after buying an additional 170 shares in the last quarter. Paulson Wealth Management Inc. increased its stake in U.S. Bancorp by 2.0% during the 4th quarter. Paulson Wealth Management Inc. now owns 8,780 shares of the financial services provider’s stock worth $469,000 after buying an additional 173 shares in the last quarter. Flputnam Investment Management Co. raised its holdings in shares of U.S. Bancorp by 1.4% during the fourth quarter. Flputnam Investment Management Co. now owns 13,721 shares of the financial services provider’s stock valued at $732,000 after acquiring an additional 186 shares during the last quarter. Formidable Asset Management LLC lifted its position in shares of U.S. Bancorp by 0.8% in the first quarter. Formidable Asset Management LLC now owns 23,373 shares of the financial services provider’s stock valued at $1,247,000 after acquiring an additional 186 shares in the last quarter. Finally, FAS Wealth Partners Inc. lifted its position in shares of U.S. Bancorp by 0.9% in the first quarter. FAS Wealth Partners Inc. now owns 19,964 shares of the financial services provider’s stock valued at $1,038,000 after acquiring an additional 186 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors.

U.S. Bancorp Price Performance

U.S. Bancorp stock opened at $63.90 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.96. The stock has a market cap of $99.11 billion, a P/E ratio of 12.75, a PEG ratio of 1.05 and a beta of 0.96. The company has a 50-day moving average price of $60.73 and a 200 day moving average price of $57.04. U.S. Bancorp has a 12-month low of $44.15 and a 12-month high of $65.02.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Thursday, July 16th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.07. U.S. Bancorp had a return on equity of 13.69% and a net margin of 18.49%.The company had revenue of $7.69 billion during the quarter, compared to analysts’ expectations of $7.58 billion. During the same quarter last year, the firm earned $1.11 earnings per share. Sell-side analysts anticipate that U.S. Bancorp will post 5.22 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Tuesday, June 30th. U.S. Bancorp’s dividend payout ratio (DPR) is currently 41.52%.

Insider Activity at U.S. Bancorp

In related news, insider Stephen L. Philipson sold 36,906 shares of U.S. Bancorp stock in a transaction on Monday, July 20th. The stock was sold at an average price of $63.08, for a total value of $2,328,030.48. Following the completion of the transaction, the insider directly owned 74,969 shares in the company, valued at approximately $4,729,044.52. This trade represents a 32.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.21% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

USB has been the subject of several research reports. DA Davidson boosted their price target on U.S. Bancorp from $72.00 to $74.00 and gave the stock a “buy” rating in a research report on Friday, July 17th. Raymond James Financial assumed coverage on shares of U.S. Bancorp in a research note on Wednesday, July 8th. They set a “strong-buy” rating and a $72.00 target price on the stock. CLSA set a $67.50 target price on shares of U.S. Bancorp in a report on Monday, July 20th. JPMorgan Chase & Co. increased their target price on shares of U.S. Bancorp from $67.50 to $69.00 and gave the company a “neutral” rating in a research report on Wednesday, July 29th. Finally, Royal Bank Of Canada boosted their price target on shares of U.S. Bancorp from $61.00 to $68.00 and gave the stock an “outperform” rating in a research report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, U.S. Bancorp currently has a consensus rating of “Moderate Buy” and an average target price of $67.06.

About U.S. Bancorp

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.