U.S. Bancorp (NYSE:USB) Shares Sold by Linscomb Wealth Inc.

Linscomb Wealth Inc. decreased its stake in shares of U.S. Bancorp (NYSE:USB) by 10.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,908 shares of the financial services provider’s stock after selling 953 shares during the period. Linscomb Wealth Inc.’s holdings in U.S. Bancorp were worth $314,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of USB. Gilbert & Cook Inc. increased its position in U.S. Bancorp by 4.0% during the fourth quarter. Gilbert & Cook Inc. now owns 15,483 shares of the financial services provider’s stock worth $670,000 after purchasing an additional 593 shares during the last quarter. Aveo Capital Partners LLC increased its position in U.S. Bancorp by 5.6% during the fourth quarter. Aveo Capital Partners LLC now owns 11,167 shares of the financial services provider’s stock worth $483,000 after purchasing an additional 592 shares during the last quarter. Checchi Capital Advisers LLC increased its position in U.S. Bancorp by 6.3% during the fourth quarter. Checchi Capital Advisers LLC now owns 10,062 shares of the financial services provider’s stock worth $435,000 after purchasing an additional 599 shares during the last quarter. Avantax Advisory Services Inc. increased its position in U.S. Bancorp by 7.8% during the fourth quarter. Avantax Advisory Services Inc. now owns 107,960 shares of the financial services provider’s stock worth $4,672,000 after purchasing an additional 7,829 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new position in U.S. Bancorp during the fourth quarter worth approximately $14,014,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insiders Place Their Bets

In other U.S. Bancorp news, Director Aleem Gillani purchased 10,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The stock was acquired at an average cost of $44.99 per share, with a total value of $449,900.00. Following the acquisition, the director now owns 10,000 shares of the company’s stock, valued at approximately $449,900. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 0.23% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have issued reports on USB. Evercore ISI boosted their price objective on shares of U.S. Bancorp from $45.00 to $48.00 and gave the stock an “in-line” rating in a research note on Tuesday, June 25th. DA Davidson boosted their price objective on shares of U.S. Bancorp from $44.00 to $49.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Royal Bank of Canada boosted their price objective on shares of U.S. Bancorp from $47.00 to $48.00 and gave the stock an “outperform” rating in a research note on Thursday, July 18th. Wells Fargo & Company boosted their price objective on shares of U.S. Bancorp from $48.00 to $52.00 and gave the stock an “overweight” rating in a research note on Thursday, July 18th. Finally, JPMorgan Chase & Co. downgraded shares of U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price objective for the company. in a research note on Thursday, June 27th. Thirteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $48.18.

U.S. Bancorp Stock Performance

Shares of U.S. Bancorp stock opened at $44.75 on Thursday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.80 and a current ratio of 0.81. U.S. Bancorp has a 1 year low of $30.47 and a 1 year high of $47.31. The firm’s 50-day simple moving average is $43.74 and its 200-day simple moving average is $42.16. The firm has a market cap of $69.83 billion, a PE ratio of 14.82, a price-to-earnings-growth ratio of 4.34 and a beta of 1.03.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.04. The firm had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.81 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. U.S. Bancorp’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.12 earnings per share. Equities analysts forecast that U.S. Bancorp will post 3.87 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were paid a dividend of $0.49 per share. The ex-dividend date was Friday, June 28th. This represents a $1.96 annualized dividend and a yield of 4.38%. U.S. Bancorp’s payout ratio is 64.90%.

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.