Hohimer Wealth Management LLC Sells 59,373 Shares of U.S. Bancorp $USB

Hohimer Wealth Management LLC lowered its stake in shares of U.S. Bancorp (NYSE:USB) by 52.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 53,680 shares of the financial services provider’s stock after selling 59,373 shares during the quarter. Hohimer Wealth Management LLC’s holdings in U.S. Bancorp were worth $3,101,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in USB. Mufg Bank LTD. bought a new stake in shares of U.S. Bancorp during the second quarter worth approximately $2,680,199,000. Bank of America Corp DE raised its position in shares of U.S. Bancorp by 6.9% during the 1st quarter. Bank of America Corp DE now owns 15,820,033 shares of the financial services provider’s stock valued at $822,800,000 after acquiring an additional 1,022,898 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of U.S. Bancorp by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 10,369,212 shares of the financial services provider’s stock valued at $539,232,000 after acquiring an additional 93,025 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of U.S. Bancorp during the 2nd quarter valued at $536,457,000. Finally, First Trust Advisors LP lifted its stake in shares of U.S. Bancorp by 39.9% in the 1st quarter. First Trust Advisors LP now owns 8,118,845 shares of the financial services provider’s stock valued at $422,261,000 after purchasing an additional 2,314,081 shares during the period. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Price Performance

Shares of USB opened at $59.49 on Monday. The stock has a market capitalization of $92.68 billion, a P/E ratio of 11.60, a P/E/G ratio of 1.13 and a beta of 1.02. U.S. Bancorp has a twelve month low of $45.02 and a twelve month high of $66.07. The company has a 50 day moving average of $59.65 and a 200-day moving average of $58.18. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.87.

U.S. Bancorp (NYSE:USB) last released its earnings results on Thursday, October 15th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.02. U.S. Bancorp had a return on equity of 13.85% and a net margin of 18.85%. The business had revenue of $8.04 billion for the quarter, compared to the consensus estimate of $8 billion. During the same quarter in the previous year, the business earned $1.22 earnings per share. U.S. Bancorp’s quarterly revenue was up 8.7% on a year-over-year basis. As a group, equities research analysts forecast that U.S. Bancorp will post 5.30 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were paid a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 3.6%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.52. The ex-dividend date was Wednesday, September 30th. U.S. Bancorp’s dividend payout ratio is currently 42.11%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. The Goldman Sachs Group reissued a “neutral” rating and issued a $64.00 target price (down from $71.00) on shares of U.S. Bancorp in a research note on Thursday, October 15th. Citigroup reduced their target price on U.S. Bancorp from $72.00 to $70.00 and set a “buy” rating on the stock in a report on Friday, October 16th. Wells Fargo & Company increased their price target on shares of U.S. Bancorp from $66.00 to $69.00 and gave the company an “overweight” rating in a research report on Friday, July 17th. UBS Group increased their price target on shares of U.S. Bancorp from $64.00 to $66.00 and gave the company a “neutral” rating in a research report on Monday, November 2nd. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of U.S. Bancorp from $63.00 to $66.00 and gave the stock a “market perform” rating in a research note on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $68.65.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, CEO Gunjan Kedia sold 27,267 shares of the stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $62.37, for a total transaction of $1,700,642.79. Following the transaction, the chief executive officer owned 426,262 shares in the company, valued at $26,585,960.94. This represents a 6.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.21% of the company’s stock.

U.S. Bancorp Company Profile

U.S. Bancorp is the parent company of U.S. Bank, a financial services provider serving consumers, businesses, institutions and government entities across the United States. Its history traces to 1863, when one of its predecessor institutions, First National Bank of Cincinnati, was established.

U.S. Bank offers consumer and business banking, lending, payment services, wealth management, investment services and corporate trust services. Its products include checking and savings accounts, credit cards, mortgages, commercial loans and digital banking solutions.

Headquartered in Minneapolis, Minnesota, U.S.