ICA Group Wealth Management LLC Has $51,000 Position in U.S. Bancorp (NYSE:USB)

ICA Group Wealth Management LLC reduced its position in shares of U.S. Bancorp (NYSE:USB) by 86.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,285 shares of the financial services provider’s stock after selling 8,293 shares during the quarter. ICA Group Wealth Management LLC’s holdings in U.S. Bancorp were worth $51,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Williams Financial LLC acquired a new position in shares of U.S. Bancorp in the second quarter worth $425,000. Oppenheimer Asset Management Inc. boosted its holdings in U.S. Bancorp by 22.2% in the second quarter. Oppenheimer Asset Management Inc. now owns 146,210 shares of the financial services provider’s stock worth $5,805,000 after purchasing an additional 26,554 shares in the last quarter. Wealthspire Advisors LLC boosted its holdings in U.S. Bancorp by 39.2% in the second quarter. Wealthspire Advisors LLC now owns 42,047 shares of the financial services provider’s stock worth $1,669,000 after purchasing an additional 11,837 shares in the last quarter. Thoroughbred Financial Services LLC boosted its holdings in U.S. Bancorp by 128.8% in the second quarter. Thoroughbred Financial Services LLC now owns 21,609 shares of the financial services provider’s stock worth $857,000 after purchasing an additional 12,164 shares in the last quarter. Finally, Parallel Advisors LLC boosted its holdings in U.S. Bancorp by 3.4% in the second quarter. Parallel Advisors LLC now owns 19,860 shares of the financial services provider’s stock worth $788,000 after purchasing an additional 648 shares in the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

U.S. Bancorp Stock Performance

NYSE:USB opened at $44.62 on Monday. The firm has a market capitalization of $69.63 billion, a PE ratio of 14.77, a price-to-earnings-growth ratio of 4.36 and a beta of 1.04. The firm has a 50-day moving average price of $43.93 and a 200 day moving average price of $42.21. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.05. U.S. Bancorp has a 12-month low of $30.47 and a 12-month high of $47.31.

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

U.S. Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.48%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s payout ratio is 66.23%.

Wall Street Analysts Forecast Growth

USB has been the subject of a number of recent research reports. DA Davidson upped their price objective on shares of U.S. Bancorp from $44.00 to $49.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Wells Fargo & Company upped their price objective on shares of U.S. Bancorp from $48.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, July 18th. Jefferies Financial Group decreased their price objective on shares of U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating for the company in a report on Wednesday, July 3rd. Citigroup upped their price objective on shares of U.S. Bancorp from $45.00 to $49.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Finally, The Goldman Sachs Group decreased their price target on shares of U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating for the company in a report on Wednesday, September 11th. Thirteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, U.S. Bancorp has an average rating of “Hold” and a consensus price target of $48.18.

Insider Activity

In other news, Director Aleem Gillani bought 10,000 shares of the business’s stock in a transaction dated Thursday, July 18th. The stock was bought at an average price of $44.99 per share, for a total transaction of $449,900.00. Following the completion of the purchase, the director now owns 10,000 shares of the company’s stock, valued at approximately $449,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.23% of the stock is currently owned by corporate insiders.

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.