Impact Partnership Wealth LLC Cuts Stake in U.S. Bancorp $USB

Impact Partnership Wealth LLC reduced its stake in U.S. Bancorp (NYSE:USB) by 37.3% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 17,247 shares of the financial services provider’s stock after selling 10,261 shares during the quarter. Impact Partnership Wealth LLC’s holdings in U.S. Bancorp were worth $920,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Guerra Advisors Inc purchased a new stake in U.S. Bancorp during the third quarter valued at about $25,000. Financial Life Planners purchased a new stake in U.S. Bancorp during the third quarter valued at about $25,000. Clayton Financial Group LLC purchased a new stake in U.S. Bancorp during the fourth quarter valued at about $25,000. JPL Wealth Management LLC purchased a new stake in U.S. Bancorp during the third quarter valued at about $28,000. Finally, Binnacle Investments Inc lifted its holdings in U.S. Bancorp by 77.8% during the third quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 273 shares during the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Trading Up 0.8%

Shares of U.S. Bancorp stock opened at $54.87 on Friday. U.S. Bancorp has a 12-month low of $42.55 and a 12-month high of $61.19. The company has a market cap of $85.17 billion, a price-to-earnings ratio of 11.50, a PEG ratio of 0.98 and a beta of 1.00. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.03. The company’s 50-day moving average price is $54.42 and its 200-day moving average price is $53.92.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.04. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. The firm had revenue of $7.32 billion for the quarter, compared to the consensus estimate of $7.27 billion. During the same period in the prior year, the firm posted $1.03 earnings per share. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, equities analysts expect that U.S. Bancorp will post 5.09 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend was Tuesday, March 31st. U.S. Bancorp’s dividend payout ratio is presently 43.61%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Barclays upped their price objective on shares of U.S. Bancorp from $65.00 to $67.00 and gave the company an “overweight” rating in a report on Friday, April 17th. Piper Sandler reaffirmed a “buy” rating on shares of U.S. Bancorp in a report on Thursday, February 26th. Oppenheimer upped their price objective on shares of U.S. Bancorp from $73.00 to $74.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. Weiss Ratings raised shares of U.S. Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of U.S. Bancorp from $58.00 to $57.50 and set an “underweight” rating on the stock in a report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, U.S. Bancorp has an average rating of “Moderate Buy” and a consensus price target of $61.20.

Insider Transactions at U.S. Bancorp

In related news, insider Jodi L. Richard sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total value of $2,280,000.00. Following the transaction, the insider directly owned 207,251 shares in the company, valued at approximately $11,813,307. This represents a 16.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Venkatachari Dilip sold 34,522 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the completion of the transaction, the executive vice president owned 51,292 shares in the company, valued at approximately $2,847,731.84. This trade represents a 40.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.21% of the company’s stock.

U.S. Bancorp Company Profile

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.