HighMark Wealth Management LLC Trims Stock Position in U.S. Bancorp $USB

Key Points

• HighMark Wealth Management LLC reduced its stake in U.S. Bancorp by 39.8% in Q2, now owning 16,741 shares valued at approximately $758,000.
• U.S. Bancorp increased its quarterly dividend from $0.50 to $0.52, representing a 4.3% dividend yield.
• Equities analysts have mixed ratings for U.S. Bancorp, with one Strong Buy, twelve Buy, and seven Hold ratings, and an average target price of $53.26.

HighMark Wealth Management LLC decreased its stake in U.S. Bancorp (NYSE:USB - Free Report) by 39.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,741 shares of the financial services provider's stock after selling 11,088 shares during the period. HighMark Wealth Management LLC's holdings in U.S. Bancorp were worth $758,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mechanics Financial Corp grew its holdings in shares of U.S. Bancorp by 5.3% during the second quarter. Mechanics Financial Corp now owns 4,806 shares of the financial services provider's stock worth $217,000 after purchasing an additional 240 shares during the last quarter. Bestgate Wealth Advisors LLC boosted its position in shares of U.S. Bancorp by 3.3% in the 1st quarter. Bestgate Wealth Advisors LLC now owns 8,031 shares of the financial services provider's stock valued at $339,000 after purchasing an additional 253 shares during the period. Atlantic Family Wealth LLC grew its stake in U.S. Bancorp by 4.2% during the 1st quarter. Atlantic Family Wealth LLC now owns 6,312 shares of the financial services provider's stock worth $266,000 after buying an additional 254 shares during the last quarter. YANKCOM Partnership increased its position in U.S. Bancorp by 59.4% during the first quarter. YANKCOM Partnership now owns 698 shares of the financial services provider's stock worth $29,000 after buying an additional 260 shares during the period. Finally, Plancorp LLC lifted its stake in U.S. Bancorp by 0.6% in the first quarter. Plancorp LLC now owns 45,473 shares of the financial services provider's stock valued at $1,920,000 after buying an additional 260 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. 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 research report on Tuesday, September 23rd. DA Davidson raised their price objective on shares of U.S. Bancorp from $49.00 to $52.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. Citigroup lifted their price objective on shares of U.S. Bancorp from $59.00 to $65.00 and gave the company a "buy" rating in a research note on Friday, September 19th. The Goldman Sachs Group increased their target price 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. Finally, Raymond James Financial upgraded U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and boosted their price target for the company from $51.00 to $57.00 in a research report on Monday, July 7th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $53.26.

Insiders Place Their Bets

In related 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 $3,259,833.64. This represents a 25.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.23% of the stock is owned by corporate insiders.

U.S. Bancorp Stock Up 0.1%

Shares of NYSE:USB opened at $47.91 on Friday. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two week high of $53.98. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.16. The firm's 50-day simple moving average is $47.57 and its 200-day simple moving average is $44.51. The company has a market cap of $74.56 billion, a price-to-earnings ratio of 11.46, a PEG ratio of 1.50 and a beta of 1.06.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The financial services provider reported $1.11 EPS for the quarter, beating analysts' consensus estimates 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 firm had revenue of $7.06 billion during the quarter, compared to the consensus estimate of $7.07 billion. During the same quarter last year, the firm earned $0.98 earnings per share. The firm's revenue was up 2.0% compared to the same quarter last year. U.S. Bancorp has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.3%. This is a boost from U.S. Bancorp's previous quarterly dividend of $0.50. The ex-dividend date is Tuesday, September 30th. U.S. Bancorp's dividend payout ratio (DPR) is presently 49.76%.

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.

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