Powers Advisory Group LLC Sells 405 Shares of U.S. Bancorp (NYSE:USB)

Powers Advisory Group LLC reduced its position in shares of U.S. Bancorp (NYSE:USB) by 2.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,166 shares of the financial services provider’s stock after selling 405 shares during the quarter. Powers Advisory Group LLC’s holdings in U.S. Bancorp were worth $723,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. CGC Financial Services LLC acquired a new position in U.S. Bancorp in the fourth quarter valued at about $25,000. BKM Wealth Management LLC bought a new stake in shares of U.S. Bancorp in the 4th quarter valued at $26,000. Planned Solutions Inc. acquired a new stake in U.S. Bancorp during the 4th quarter worth $27,000. Naples Money Management LLC acquired a new stake in U.S. Bancorp during the 4th quarter worth $30,000. Finally, Financial Synergies Wealth Advisors Inc. acquired a new position in U.S. Bancorp in the first quarter valued at about $30,000. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on USB shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $47.00 price objective on shares of U.S. Bancorp in a research report on Thursday, May 16th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $45.00 price objective on shares of U.S. Bancorp in a research report on Friday, June 21st. DA Davidson dropped their price target on U.S. Bancorp from $45.00 to $44.00 and set a “neutral” rating on the stock in a research note on Thursday, April 18th. Evercore ISI boosted their price target on U.S. Bancorp from $45.00 to $48.00 and gave the company an “in-line” rating in a report on Tuesday, June 25th. Finally, HSBC upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and increased their price objective for the stock from $47.00 to $53.00 in a report on Thursday, March 28th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $45.84.

U.S. Bancorp Price Performance

U.S. Bancorp stock traded down $0.46 during trading hours on Thursday, reaching $39.51. 3,715,540 shares of the stock were exchanged, compared to its average volume of 8,371,646. The stock has a 50 day moving average of $40.26 and a two-hundred day moving average of $41.60. U.S. Bancorp has a twelve month low of $30.47 and a twelve month high of $45.85. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 1.07. The company has a market cap of $61.65 billion, a P/E ratio of 13.08, a price-to-earnings-growth ratio of 3.85 and a beta of 1.04.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. U.S. Bancorp had a return on equity of 13.93% and a net margin of 12.13%. The firm had revenue of $6.72 billion for the quarter, compared to the consensus estimate of $6.71 billion. During the same quarter last year, the business posted $1.16 EPS. The company’s revenue was down 6.4% compared to the same quarter last year. Equities analysts expect that U.S. Bancorp will post 3.84 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 4.96%. The ex-dividend date is Friday, June 28th. U.S. Bancorp’s dividend payout ratio is presently 64.90%.

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.