U.S. Bancorp $USB Position Decreased by Praxis Investment Management Inc.

Key Points

• Praxis Investment Management Inc. reduced its stake in U.S. Bancorp by 33.7%, now holding 28,587 shares valued at approximately $1.29 million.
• U.S. Bancorp recently increased its quarterly dividend from $0.50 to $0.52 per share, representing an annual yield of 4.6%.
• The company reported quarterly earnings of $1.22 EPS, exceeding expectations, with revenue reaching $7.34 billion, a 6.8% increase year-over-year.

Praxis Investment Management Inc. decreased its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 33.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,587 shares of the financial services provider's stock after selling 14,540 shares during the period. Praxis Investment Management Inc.'s holdings in U.S. Bancorp were worth $1,294,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Portland Financial Advisors Inc bought a new position in shares of U.S. Bancorp during the 2nd quarter valued at about $203,000. Activest Wealth Management boosted its position in shares of U.S. Bancorp by 846.5% during the 2nd quarter. Activest Wealth Management now owns 814 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 728 shares in the last quarter. Aire Advisors LLC boosted its position in shares of U.S. Bancorp by 3.5% during the 2nd quarter. Aire Advisors LLC now owns 23,891 shares of the financial services provider's stock valued at $1,081,000 after purchasing an additional 800 shares in the last quarter. Mutual Advisors LLC boosted its position in shares of U.S. Bancorp by 19.3% during the 2nd quarter. Mutual Advisors LLC now owns 68,482 shares of the financial services provider's stock valued at $3,172,000 after purchasing an additional 11,090 shares in the last quarter. Finally, Generali Asset Management SPA SGR boosted its holdings in shares of U.S. Bancorp by 4.5% in the second quarter. Generali Asset Management SPA SGR now owns 167,339 shares of the financial services provider's stock worth $7,572,000 after buying an additional 7,213 shares during the period. Institutional investors own 77.60% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on USB shares. Wall Street Zen upgraded shares of U.S. Bancorp from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Wells Fargo & Company raised their target price on shares of U.S. Bancorp from $50.00 to $52.00 and gave the stock an "overweight" rating in a report on Friday. Oppenheimer decreased their target price on shares of U.S. Bancorp from $67.00 to $66.00 and set an "outperform" rating for the company in a report on Tuesday, September 23rd. Morgan Stanley reiterated a "positive" rating on shares of U.S. Bancorp in a report on Friday. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of U.S. Bancorp in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $54.48.

U.S. Bancorp Stock Performance

USB stock opened at $45.66 on Friday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.81 and a current ratio of 0.82. The stock has a market cap of $71.06 billion, a P/E ratio of 10.45, a P/E/G ratio of 1.33 and a beta of 1.06. The firm has a 50 day simple moving average of $47.93 and a 200 day simple moving average of $44.81. 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 posted its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.22 EPS for the quarter, topping the consensus estimate of $1.11 by $0.11. The business had revenue of $7.34 billion during the quarter, compared to analysts' expectations of $7.17 billion. U.S. Bancorp had a net margin of 16.89% and a return on equity of 13.34%. The firm's quarterly revenue was up 6.8% compared to the same quarter last year. During the same period last year, the company posted $1.03 earnings per share. Research analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This is a boost from U.S. Bancorp's previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a yield of 4.6%. U.S. Bancorp's payout ratio is 47.60%.

Insiders Place Their Bets

In related news, EVP Souheil Badran sold 23,727 shares of the firm's stock in a transaction that occurred on Monday, July 21st. The shares were 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 trade represents a 25.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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.

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