Daymark Wealth Partners LLC Decreases Position in U.S. Bancorp (NYSE:USB)

Daymark Wealth Partners LLC lowered its position in U.S. Bancorp (NYSE:USB - Free Report) by 4.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 523,116 shares of the financial services provider's stock after selling 22,153 shares during the quarter. U.S. Bancorp makes up about 0.9% of Daymark Wealth Partners LLC's portfolio, making the stock its 24th biggest position. Daymark Wealth Partners LLC's holdings in U.S. Bancorp were worth $22,086,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of USB. J.Safra Asset Management Corp purchased a new position in shares of U.S. Bancorp during the fourth quarter valued at $26,000. Picton Mahoney Asset Management bought a new position in U.S. Bancorp during the 4th quarter worth about $30,000. Millstone Evans Group LLC purchased a new position in U.S. Bancorp during the 4th quarter valued at about $31,000. REAP Financial Group LLC increased its position in U.S. Bancorp by 86.1% during the 4th quarter. REAP Financial Group LLC now owns 642 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 297 shares during the period. Finally, Murphy & Mullick Capital Management Corp bought a new stake in shares of U.S. Bancorp in the 4th quarter valued at about $32,000. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

U.S. Bancorp Stock Performance

Shares of USB stock traded up $0.82 during trading hours on Thursday, hitting $45.64. The company's stock had a trading volume of 13,401,309 shares, compared to its average volume of 9,218,844. The stock has a market cap of $71.11 billion, a PE ratio of 11.30, a price-to-earnings-growth ratio of 1.68 and a beta of 0.99. U.S. Bancorp has a 12-month low of $35.18 and a 12-month high of $53.98. The company has a 50 day moving average of $42.63 and a 200 day moving average of $44.62. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11.

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

U.S. Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a dividend of $0.50 per share. The ex-dividend date is Monday, June 30th. This represents a $2.00 annualized dividend and a yield of 4.38%. U.S. Bancorp's dividend payout ratio is presently 49.50%.

Wall Street Analysts Forecast Growth

USB has been the topic of a number of recent research reports. Wall Street Zen downgraded shares of U.S. Bancorp from a "hold" rating to a "sell" rating in a research note on Saturday, June 7th. TD Cowen started coverage on U.S. Bancorp in a report on Thursday, May 15th. They issued a "buy" rating and a $60.00 price target on the stock. Royal Bank Of Canada reduced their price target on U.S. Bancorp from $57.00 to $50.00 and set an "outperform" rating for the company in a research report on Thursday, April 17th. Raymond James Financial reaffirmed an "outperform" rating and set a $51.00 price objective (down previously from $57.00) on shares of U.S. Bancorp in a research report on Thursday, April 17th. Finally, Evercore ISI lifted their target price on U.S. Bancorp from $44.00 to $49.00 and gave the company an "in-line" rating in a research note on Wednesday, June 4th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $50.72.

Insider Activity

In other U.S. Bancorp news, Director Aleem Gillani bought 5,000 shares of U.S. Bancorp stock in a transaction dated Monday, April 21st. The stock was acquired at an average cost of $37.32 per share, with a total value of $186,600.00. Following the purchase, the director now directly owns 15,000 shares in the company, valued at $559,800. This represents a 50.00% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.23% of the company's stock.

U.S. Bancorp 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.