HORAN Wealth LLC Sells 36,716 Shares of U.S. Bancorp $USB

Key Points

• HORAN Wealth LLC reduced its U.S. Bancorp stake by 49.9% in the second quarter, selling 36,716 shares and retaining 36,892 shares valued at approximately $2.23 million. Institutional investors collectively own 77.6% of the company.
• U.S. Bancorp reported quarterly earnings of $1.35 per share, exceeding analyst expectations of $1.28, while revenue reached $7.69 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $67.06.
• The bank declared a quarterly dividend of $0.52 per share, equivalent to an annualized $2.08 dividend and a 3.3% yield. Recent insider activity was also negative, with both an insider and the CEO selling shares.

HORAN Wealth LLC cut its position in shares of U.S. Bancorp (NYSE:USB - Free Report) by 49.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,892 shares of the financial services provider's stock after selling 36,716 shares during the quarter. HORAN Wealth LLC's holdings in U.S. Bancorp were worth $2,228,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Inceptionr LLC grew its position in shares of U.S. Bancorp by 424.4% during the 4th quarter. Inceptionr LLC now owns 27,614 shares of the financial services provider's stock worth $1,473,000 after buying an additional 22,348 shares during the period. Dimensional Fund Advisors LP boosted its stake in U.S. Bancorp by 0.9% during the first quarter. Dimensional Fund Advisors LP now owns 10,369,212 shares of the financial services provider's stock worth $539,232,000 after acquiring an additional 93,025 shares in the last quarter. Keudell Morrison Wealth Management acquired a new stake in U.S. Bancorp in the fourth quarter worth $2,856,000. Mufg Bank LTD. acquired a new stake in U.S. Bancorp in the second quarter worth $2,680,199,000. Finally, ABN Amro Investment Solutions increased its stake in U.S. Bancorp by 7.9% in the fourth quarter. ABN Amro Investment Solutions now owns 252,961 shares of the financial services provider's stock valued at $13,498,000 after purchasing an additional 18,468 shares in the last quarter. Institutional investors own 77.60% of the company's stock.

U.S. Bancorp Stock Performance

Shares of USB opened at $63.36 on Monday. The firm has a market capitalization of $98.72 billion, a P/E ratio of 12.65, a P/E/G ratio of 1.13 and a beta of 0.95. U.S. Bancorp has a 52 week low of $45.02 and a 52 week high of $66.07. The stock has a 50 day moving average price of $63.07 and a two-hundred day moving average price of $57.87. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.82 and a current ratio of 0.83.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its earnings results on Thursday, July 16th. The financial services provider reported $1.35 earnings per share for the quarter, beating analysts' consensus estimates of $1.28 by $0.07. U.S. Bancorp had a return on equity of 13.69% and a net margin of 18.49%.The company had revenue of $7.69 billion for the quarter, compared to analyst estimates of $7.58 billion. During the same quarter last year, the company earned $1.11 earnings per share. Equities analysts forecast that U.S. Bancorp will post 5.22 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Tuesday, June 30th. U.S. Bancorp's payout ratio is currently 41.52%.

Wall Street Analysts Forecast Growth

USB has been the topic of a number of research analyst reports. Morgan Stanley increased their price objective on shares of U.S. Bancorp from $64.00 to $67.00 and gave the stock an "equal weight" rating in a research report on Monday, June 29th. Truist Financial boosted their target price on U.S. Bancorp from $66.00 to $69.00 and gave the company a "buy" rating in a research report on Friday, July 17th. Wells Fargo & Company increased their price target on U.S. Bancorp from $66.00 to $69.00 and gave the stock an "overweight" rating in a report on Friday, July 17th. UBS Group raised their price objective on U.S. Bancorp from $58.00 to $66.00 and gave the company a "neutral" rating in a research note on Tuesday, July 7th. Finally, Robert W. Baird increased their target price on U.S. Bancorp from $64.00 to $68.00 and gave the stock a "neutral" rating in a report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $67.06.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, insider Stephen L. Philipson sold 36,906 shares of the company's stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $63.08, for a total value of $2,328,030.48. Following the completion of the sale, the insider directly owned 74,969 shares of the company's stock, valued at approximately $4,729,044.52. This represents a 32.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Gunjan Kedia sold 27,267 shares of the stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $62.37, for a total transaction of $1,700,642.79. Following the completion of the sale, the chief executive officer owned 426,262 shares of the company's stock, valued at approximately $26,585,960.94. This trade represents a 6.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.21% of the company's stock.

About U.S. Bancorp

U.S. Bancorp NYSE: USB is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.

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