Avantax Planning Partners Inc. Sells 19,522 Shares of U.S. Bancorp (NYSE:USB)

Avantax Planning Partners Inc. trimmed its stake in U.S. Bancorp (NYSE:USB - Free Report) by 19.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 82,004 shares of the financial services provider's stock after selling 19,522 shares during the period. Avantax Planning Partners Inc.'s holdings in U.S. Bancorp were worth $3,462,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. J.Safra Asset Management Corp bought a new stake in shares of U.S. Bancorp in the 4th quarter valued at about $26,000. Westend Capital Management LLC acquired a new stake in U.S. Bancorp in the first quarter valued at approximately $27,000. Picton Mahoney Asset Management purchased a new position in U.S. Bancorp in the fourth quarter worth $30,000. Alpine Bank Wealth Management purchased a new position in U.S. Bancorp in the first quarter worth $30,000. Finally, Millstone Evans Group LLC acquired a new position in shares of U.S. Bancorp during the fourth quarter worth $31,000. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

U.S. Bancorp Stock Up 0.5%

Shares of NYSE USB opened at $47.73 on Friday. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $53.98. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.11. The company's 50-day simple moving average is $43.54 and its 200-day simple moving average is $44.42. The firm has a market cap of $74.36 billion, a price-to-earnings ratio of 11.81, a price-to-earnings-growth ratio of 1.79 and a beta of 0.99.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its earnings results on Wednesday, April 16th. The financial services provider reported $1.03 EPS for the quarter, beating analysts' consensus estimates of $0.97 by $0.06. The business had revenue of $6.96 billion during the quarter, compared to analysts' expectations of $6.92 billion. U.S. Bancorp had a return on equity of 13.02% and a net margin of 15.70%. During the same quarter in the prior year, the firm earned $0.78 earnings per share. Equities analysts predict that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date is Monday, June 30th. U.S. Bancorp's payout ratio is 49.50%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on USB shares. Piper Sandler decreased their price target on U.S. Bancorp from $49.00 to $48.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Morgan Stanley lifted their target price on shares of U.S. Bancorp from $50.00 to $51.00 and gave the stock an "overweight" rating in a research note on Thursday. The Goldman Sachs Group lifted their price objective on shares of U.S. Bancorp from $41.00 to $46.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 10th. Raymond James Financial reissued an "outperform" rating and issued a $51.00 target price (down from $57.00) on shares of U.S. Bancorp in a research report on Thursday, April 17th. Finally, TD Cowen began coverage on U.S. Bancorp in a research note on Thursday, May 15th. They set a "buy" rating and a $60.00 price target on the stock. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $51.34.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, Director Aleem Gillani purchased 5,000 shares of the stock in a transaction that occurred on Monday, April 21st. The shares were purchased at an average cost of $37.32 per share, for a total transaction of $186,600.00. Following the completion of the transaction, the director owned 15,000 shares of the company's stock, valued at $559,800. The trade was a 50.00% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 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.

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