Mission Wealth Management LP Has $1.04 Million Stock Holdings in U.S. Bancorp $USB

Mission Wealth Management LP grew its holdings in U.S. Bancorp (NYSE:USB) by 23.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,899 shares of the financial services provider’s stock after purchasing an additional 4,386 shares during the period. Mission Wealth Management LP’s holdings in U.S. Bancorp were worth $1,036,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Curbstone Financial Management Corp raised its holdings in shares of U.S. Bancorp by 0.6% in the second quarter. Curbstone Financial Management Corp now owns 39,982 shares of the financial services provider’s stock valued at $1,809,000 after purchasing an additional 222 shares during the last quarter. Mechanics Financial Corp increased its stake in U.S. Bancorp by 5.3% in the 2nd quarter. Mechanics Financial Corp now owns 4,806 shares of the financial services provider’s stock valued at $217,000 after buying an additional 240 shares during the last quarter. Northern Financial Advisors Inc increased its position in shares of U.S. Bancorp by 5.0% in the second quarter. Northern Financial Advisors Inc now owns 5,033 shares of the financial services provider’s stock valued at $228,000 after acquiring an additional 241 shares during the last quarter. Lawson Kroeker Investment Management Inc. NE increased its position in shares of U.S. Bancorp by 0.5% in the second quarter. Lawson Kroeker Investment Management Inc. NE now owns 46,109 shares of the financial services provider’s stock valued at $2,086,000 after acquiring an additional 249 shares during the last quarter. Finally, Gallagher Capital Advisors LLC increased its position in shares of U.S. Bancorp by 1.5% in the second quarter. Gallagher Capital Advisors LLC now owns 16,795 shares of the financial services provider’s stock valued at $773,000 after acquiring an additional 249 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

U.S. Bancorp Price Performance

NYSE:USB opened at $46.66 on Tuesday. U.S. Bancorp has a one year low of $35.18 and a one year high of $53.98. The company has a market cap of $72.61 billion, a P/E ratio of 10.68, a P/E/G ratio of 1.25 and a beta of 1.06. The firm’s fifty day moving average price is $48.11 and its two-hundred day moving average price is $45.65. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.82 and a quick ratio of 0.82.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.11. U.S. Bancorp had a net margin of 16.89% and a return on equity of 13.34%. The business had revenue of $7.34 billion for the quarter, compared to analyst estimates of $7.17 billion. During the same quarter in the prior year, the business earned $1.03 EPS. U.S. Bancorp’s quarterly revenue was up 6.8% on a year-over-year basis. Equities analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Increases Dividend

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

Insider Activity at U.S. Bancorp

In other news, Chairman Andrew Cecere sold 140,445 shares of the company’s stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $46.34, for a total value of $6,508,221.30. Following the transaction, the chairman owned 1,360,414 shares of the company’s stock, valued at approximately $63,041,584.76. This represents a 9.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP James L. Chosy sold 26,909 shares of the company’s stock in a transaction on Monday, October 20th. The shares were 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 in the company, valued at approximately $10,607,932.50. This represents a 10.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.23% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Raymond James Financial raised U.S. Bancorp from an “outperform” rating to a “strong-buy” rating and boosted their price target for the stock from $51.00 to $57.00 in a research report on Monday, July 7th. Citigroup boosted their target price on shares of U.S. Bancorp from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, October 17th. Evercore ISI boosted their target price on shares of U.S. Bancorp from $49.00 to $54.00 and gave the stock an “in-line” rating in a report on Tuesday, September 30th. Deutsche Bank Aktiengesellschaft upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $52.50 price objective on the stock in a research note on Thursday, October 23rd. Finally, Oppenheimer lowered their price objective on shares of U.S. Bancorp from $67.00 to $66.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 23rd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, U.S. Bancorp currently has an average rating of “Moderate Buy” and a consensus price target of $54.55.

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.