U.S. Bancorp (NYSE:USB) Holdings Trimmed by OneAscent Wealth Management LLC

OneAscent Wealth Management LLC lowered its holdings in U.S. Bancorp (NYSE:USB) by 0.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 59,997 shares of the financial services provider’s stock after selling 365 shares during the period. U.S. Bancorp comprises approximately 1.2% of OneAscent Wealth Management LLC’s investment portfolio, making the stock its 11th largest position. OneAscent Wealth Management LLC’s holdings in U.S. Bancorp were worth $2,870,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the business. International Assets Investment Management LLC purchased a new stake in U.S. Bancorp in the 4th quarter worth about $1,018,000. Vanguard Group Inc. lifted its position in shares of U.S. Bancorp by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 138,836,896 shares of the financial services provider’s stock worth $6,640,569,000 after purchasing an additional 1,079,056 shares in the last quarter. M&T Bank Corp boosted its holdings in shares of U.S. Bancorp by 2.8% during the third quarter. M&T Bank Corp now owns 846,344 shares of the financial services provider’s stock worth $38,704,000 after purchasing an additional 22,803 shares during the period. D.A. Davidson & CO. grew its position in U.S. Bancorp by 11.3% during the fourth quarter. D.A. Davidson & CO. now owns 380,767 shares of the financial services provider’s stock valued at $18,212,000 after purchasing an additional 38,802 shares in the last quarter. Finally, Keystone Financial Planning Inc. increased its stake in U.S. Bancorp by 29.5% in the 4th quarter. Keystone Financial Planning Inc. now owns 72,614 shares of the financial services provider’s stock valued at $3,473,000 after buying an additional 16,552 shares during the period. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insider Activity

In related news, insider Terrance R. Dolan sold 66,317 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $46.96, for a total transaction of $3,114,246.32. Following the completion of the sale, the insider now owns 209,482 shares in the company, valued at $9,837,274.72. This trade represents a 24.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP James L. Chosy sold 21,451 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $47.65, for a total transaction of $1,022,140.15. Following the sale, the executive vice president now directly owns 198,127 shares in the company, valued at $9,440,751.55. This represents a 9.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 219,812 shares of company stock worth $10,385,665. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Trading Down 2.4 %

Shares of USB stock opened at $42.21 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. U.S. Bancorp has a 1 year low of $37.81 and a 1 year high of $53.98. The firm’s fifty day simple moving average is $45.74 and its 200 day simple moving average is $47.55. The firm has a market capitalization of $65.77 billion, a P/E ratio of 11.14, a price-to-earnings-growth ratio of 1.73 and a beta of 1.02.

U.S. Bancorp (NYSE:USB) last released its earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.01. The business had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $7 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The firm’s revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the company earned $0.99 earnings per share. As a group, sell-side analysts predict that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.74%. The ex-dividend date of this dividend is Monday, March 31st. U.S. Bancorp’s dividend payout ratio is 52.77%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on USB. Wells Fargo & Company decreased their target price on shares of U.S. Bancorp from $62.00 to $56.00 and set an “overweight” rating for the company in a research note on Friday. Raymond James upgraded U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 target price on the stock in a research note on Thursday, December 19th. Oppenheimer raised their price target on U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. DA Davidson raised U.S. Bancorp from a “neutral” rating to a “buy” rating and boosted their price target for the company from $58.00 to $60.00 in a research note on Thursday, January 2nd. Finally, Citigroup dropped their price objective on U.S. Bancorp from $65.00 to $55.00 and set a “buy” rating on the stock in a report on Monday, March 24th. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $53.21.

About U.S. Bancorp

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.