Frank Rimerman Advisors LLC Has $936,000 Holdings in U.S. Bancorp (NYSE:USB)

Key Points

• Frank Rimerman Advisors LLC reduced its stake in U.S. Bancorp by 50.8% in Q1, owning 22,162 shares valued at $936,000 after selling 22,912 shares.
• Wall Street analysts are optimistic, with a consensus price target of $52.55 for U.S. Bancorp, where ratings include one sell, seven holds, thirteen buys, and one strong buy.
• U.S. Bancorp announced a quarterly dividend of $0.50 per share, yielding 4.5% annually, with a dividend payout ratio of 47.85%.

Frank Rimerman Advisors LLC trimmed its position in shares of U.S. Bancorp (NYSE:USB - Free Report) by 50.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,162 shares of the financial services provider's stock after selling 22,912 shares during the quarter. Frank Rimerman Advisors LLC's holdings in U.S. Bancorp were worth $936,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in USB. FIL Ltd raised its stake in shares of U.S. Bancorp by 42.0% in the 4th quarter. FIL Ltd now owns 28,872 shares of the financial services provider's stock valued at $1,381,000 after acquiring an additional 8,542 shares in the last quarter. Wesbanco Bank Inc. grew its holdings in U.S. Bancorp by 31.6% during the first quarter. Wesbanco Bank Inc. now owns 325,056 shares of the financial services provider's stock valued at $13,724,000 after purchasing an additional 78,146 shares during the last quarter. Crestwood Advisors Group LLC raised its position in shares of U.S. Bancorp by 10.6% in the first quarter. Crestwood Advisors Group LLC now owns 6,784 shares of the financial services provider's stock valued at $286,000 after purchasing an additional 649 shares during the period. Becker Capital Management Inc. lifted its stake in shares of U.S. Bancorp by 1.5% in the fourth quarter. Becker Capital Management Inc. now owns 560,095 shares of the financial services provider's stock worth $27,069,000 after buying an additional 8,204 shares during the last quarter. Finally, United Community Bank boosted its holdings in shares of U.S. Bancorp by 21.8% during the 1st quarter. United Community Bank now owns 49,066 shares of the financial services provider's stock worth $2,072,000 after buying an additional 8,796 shares during the period. Institutional investors own 77.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on USB. DA Davidson boosted their price objective on U.S. Bancorp from $49.00 to $52.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. Barclays cut their price target on U.S. Bancorp from $61.00 to $56.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Keefe, Bruyette & Woods lowered their price objective on shares of U.S. Bancorp from $54.00 to $49.00 and set a "market perform" rating on the stock in a research note on Thursday, April 17th. Oppenheimer upped their target price on shares of U.S. Bancorp from $66.00 to $67.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Finally, Citigroup increased their price target on shares of U.S. Bancorp from $55.00 to $59.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, U.S. Bancorp presently has a consensus rating of "Moderate Buy" and a consensus price target of $52.55.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, EVP Souheil Badran sold 23,727 shares of the company's stock in a transaction on Monday, July 21st. The stock was sold at an average price of $46.34, for a total transaction of $1,099,509.18. Following the transaction, the executive vice president owned 70,346 shares of the company's stock, valued at approximately $3,259,833.64. This represents a 25.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.23% of the stock is currently owned by corporate insiders.

U.S. Bancorp Price Performance

U.S. Bancorp stock opened at $44.86 on Friday. The business's fifty day moving average is $45.27 and its two-hundred day moving average is $43.93. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market cap of $69.89 billion, a P/E ratio of 10.73, a P/E/G ratio of 1.41 and a beta of 1.01. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $53.98.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.04. U.S. Bancorp had a net margin of 16.30% and a return on equity of 13.08%. The business had revenue of $7.06 billion for the quarter, compared to the consensus estimate of $7.07 billion. During the same quarter in the prior year, the company earned $0.98 EPS. The firm's quarterly revenue was up 2.0% on a year-over-year basis. Equities research analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.5%. U.S. Bancorp's dividend payout ratio (DPR) is currently 47.85%.

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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