Cassaday & Co Wealth Management LLC Has $704,000 Stake in U.S. Bancorp $USB

Cassaday & Co Wealth Management LLC decreased its stake in U.S. Bancorp (NYSE:USB) by 25.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,560 shares of the financial services provider’s stock after selling 5,436 shares during the quarter. Cassaday & Co Wealth Management LLC’s holdings in U.S. Bancorp were worth $704,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Nuveen LLC acquired a new position in U.S. Bancorp in the first quarter valued at about $138,183,000. Vanguard Group Inc. boosted its position in U.S. Bancorp by 1.7% in the first quarter. Vanguard Group Inc. now owns 141,230,279 shares of the financial services provider’s stock valued at $5,962,742,000 after buying an additional 2,393,383 shares in the last quarter. American Century Companies Inc. boosted its position in U.S. Bancorp by 17.4% in the first quarter. American Century Companies Inc. now owns 10,070,174 shares of the financial services provider’s stock valued at $425,163,000 after buying an additional 1,493,318 shares in the last quarter. Nordea Investment Management AB boosted its position in U.S. Bancorp by 192.0% in the second quarter. Nordea Investment Management AB now owns 1,994,993 shares of the financial services provider’s stock valued at $90,752,000 after buying an additional 1,311,746 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in U.S. Bancorp by 10.5% in the first quarter. Goldman Sachs Group Inc. now owns 11,012,635 shares of the financial services provider’s stock valued at $464,953,000 after buying an additional 1,045,509 shares in the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on USB. Morgan Stanley reissued a “positive” rating on shares of U.S. Bancorp in a research note on Friday, October 17th. Evercore ISI boosted their price objective on U.S. Bancorp from $49.00 to $54.00 and gave the stock an “in-line” rating in a research note on Tuesday, September 30th. DA Davidson boosted their price objective on U.S. Bancorp from $57.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, October 17th. TD Cowen boosted their price objective on U.S. Bancorp from $59.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, October 20th. Finally, Cowen reissued a “buy” rating on shares of U.S. Bancorp in a research note on Monday, October 20th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, U.S. Bancorp currently has a consensus rating of “Moderate Buy” and an average target price of $54.55.

U.S. Bancorp Trading Down 0.4%

USB stock opened at $46.42 on Wednesday. The company has a market cap of $72.24 billion, a P/E ratio of 10.62, a PEG ratio of 1.25 and a beta of 1.10. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $53.98. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.10. The business has a fifty day moving average of $48.06 and a 200-day moving average of $45.71.

U.S. Bancorp (NYSE:USB) last released its earnings results on Thursday, October 16th. The financial services provider reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.11. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.The company had revenue of $7.34 billion during the quarter, compared to the consensus estimate of $7.17 billion. During the same quarter in the previous year, the company posted $1.03 earnings per share. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. As a group, equities research analysts expect that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were issued a $0.52 dividend. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a yield of 4.5%. The ex-dividend date was Tuesday, September 30th. U.S. Bancorp’s dividend payout ratio (DPR) is currently 47.60%.

Insider Activity at U.S. Bancorp

In related news, EVP James L. Chosy sold 26,909 shares of the company’s stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $46.86, for a total value of $1,260,955.74. Following the completion of the sale, the executive vice president owned 226,375 shares in the company, valued at approximately $10,607,932.50. This represents a 10.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Andrew Cecere sold 140,445 shares of the company’s stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $46.34, for a total value of $6,508,221.30. Following the completion of the sale, the chairman owned 1,360,414 shares of the company’s stock, valued at $63,041,584.76. This represents a 9.36% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.23% of the company’s stock.

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.