U.S. Bancorp $USB Shares Sold by Forvis Mazars Wealth Advisors LLC

Key Points

• Forvis Mazars Wealth Advisors LLC reduced its holdings in U.S. Bancorp by 63.7%, now owning 15,562 shares valued at approximately $657,000.
• Multiple institutional investors, including Wesbanco Bank Inc. and Crestwood Advisors Group LLC, have increased their stakes in U.S. Bancorp, with a total of 77.60% of the stock owned by institutional investors and hedge funds.
• U.S. Bancorp recently reported earnings of $1.11 per share, beating analysts' expectations, along with a quarterly dividend of $0.50, representing a yield of 4.4%.

Forvis Mazars Wealth Advisors LLC cut its position in U.S. Bancorp (NYSE:USB - Free Report) by 63.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,562 shares of the financial services provider's stock after selling 27,304 shares during the quarter. Forvis Mazars Wealth Advisors LLC's holdings in U.S. Bancorp were worth $657,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Wesbanco Bank Inc. grew its stake in shares of U.S. Bancorp by 31.6% in the first quarter. Wesbanco Bank Inc. now owns 325,056 shares of the financial services provider's stock valued at $13,724,000 after buying an additional 78,146 shares in the last quarter. Crestwood Advisors Group LLC grew its stake 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 buying an additional 649 shares in the last quarter. Becker Capital Management Inc. grew 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 valued at $27,069,000 after buying an additional 8,204 shares in the last quarter. United Community Bank grew its stake in shares of U.S. Bancorp by 21.8% in the first quarter. United Community Bank now owns 49,066 shares of the financial services provider's stock valued at $2,072,000 after buying an additional 8,796 shares in the last quarter. Finally, Asset Management One Co. Ltd. grew its stake in shares of U.S. Bancorp by 9.2% in the first quarter. Asset Management One Co. Ltd. now owns 653,367 shares of the financial services provider's stock valued at $27,585,000 after buying an additional 55,054 shares in the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

USB has been the subject of a number of recent research reports. Morgan Stanley lifted their target price on U.S. Bancorp from $51.00 to $52.00 and gave the company an "overweight" rating in a report on Friday, July 18th. Wall Street Zen upgraded U.S. Bancorp from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Raymond James Financial upgraded U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and lifted their target price for the company from $51.00 to $57.00 in a report on Monday, July 7th. The Goldman Sachs Group lifted their target price on U.S. Bancorp from $41.00 to $46.00 and gave the company a "neutral" rating in a report on Tuesday, June 10th. Finally, Citigroup lifted their target price on 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 assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, U.S. Bancorp presently has a consensus rating of "Moderate Buy" and a consensus price target of $52.55.

U.S. Bancorp Stock Down 1.9%

Shares of NYSE USB opened at $45.96 on Monday. The stock has a market cap of $71.52 billion, a PE ratio of 11.00, a price-to-earnings-growth ratio of 1.44 and a beta of 1.01. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.16. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $53.98. The business has a 50-day moving average price of $45.46 and a 200 day moving average price of $43.80.

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

U.S. Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were given 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 4.4%. U.S. Bancorp's dividend payout ratio is 47.85%.

Insider Activity

In related news, EVP Souheil Badran sold 23,727 shares of the company's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $46.34, for a total value of $1,099,509.18. Following the completion of the sale, the executive vice president directly owned 70,346 shares of the company's stock, valued at $3,259,833.64. This represents a 25.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.23% of the stock is currently owned by company insiders.

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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