Kingsview Wealth Management LLC Sells 1,292 Shares of U.S. Bancorp $USB

Kingsview Wealth Management LLC trimmed its stake in shares of U.S. Bancorp (NYSE:USB) by 2.1% during the second quarter, HoldingsChannel reports. The fund owned 59,890 shares of the financial services provider’s stock after selling 1,292 shares during the period. Kingsview Wealth Management LLC’s holdings in U.S. Bancorp were worth $2,710,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Curbstone Financial Management Corp grew its stake in shares of U.S. Bancorp by 0.6% during the 2nd quarter. Curbstone Financial Management Corp now owns 39,982 shares of the financial services provider’s stock worth $1,809,000 after acquiring an additional 222 shares in the last quarter. Crestwood Advisors Group LLC grew its position in U.S. Bancorp by 3.5% in the second quarter. Crestwood Advisors Group LLC now owns 7,021 shares of the financial services provider’s stock valued at $318,000 after purchasing an additional 237 shares in the last quarter. Mechanics Financial Corp grew its position in U.S. Bancorp by 5.3% in the second quarter. Mechanics Financial Corp now owns 4,806 shares of the financial services provider’s stock valued at $217,000 after purchasing an additional 240 shares in the last quarter. Northern Financial Advisors Inc increased its stake in U.S. Bancorp by 5.0% in the 2nd quarter. Northern Financial Advisors Inc now owns 5,033 shares of the financial services provider’s stock valued at $228,000 after buying an additional 241 shares during the last quarter. Finally, Lawson Kroeker Investment Management Inc. NE lifted its position in U.S. Bancorp by 0.5% during the 2nd quarter. Lawson Kroeker Investment Management Inc. NE now owns 46,109 shares of the financial services provider’s stock worth $2,086,000 after buying an additional 249 shares in the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

U.S. Bancorp Stock Up 1.1%

Shares of NYSE:USB opened at $45.95 on Wednesday. The firm has a market capitalization of $71.43 billion, a P/E ratio of 10.52, a P/E/G ratio of 1.25 and a beta of 1.10. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a 50 day moving average price of $47.69 and a 200-day moving average price of $46.21. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $53.98.

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

U.S. Bancorp Increases Dividend

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

Analyst Upgrades and Downgrades

USB has been the topic of several analyst reports. Wells Fargo & Company upped their target price on U.S. Bancorp from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, October 17th. DA Davidson upped 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. Evercore ISI increased their price objective on U.S. Bancorp from $49.00 to $54.00 and gave the company an “in-line” rating in a report on Tuesday, September 30th. Oppenheimer lowered their target price on shares of U.S. Bancorp from $67.00 to $66.00 and set an “outperform” rating on the stock in a report on Tuesday, September 23rd. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of U.S. Bancorp in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $54.55.

Insider Buying and Selling

In other U.S. Bancorp news, Chairman Andrew Cecere sold 140,445 shares of U.S. Bancorp stock in a transaction on Monday, October 20th. The stock was sold at an average price of $46.34, for a total transaction of $6,508,221.30. Following the completion of the transaction, the chairman owned 1,360,414 shares in the company, valued at approximately $63,041,584.76. The trade was a 9.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP James L. Chosy sold 26,909 shares of U.S. Bancorp 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 transaction, the executive vice president directly owned 226,375 shares of the company’s stock, valued at approximately $10,607,932.50. This represents a 10.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.23% of the stock is owned by company 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.