Wealth Enhancement Advisory Services LLC Sells 25,168 Shares of U.S. Bancorp $USB

Key Points

• Wealth Enhancement Advisory Services LLC reduced its holdings in U.S. Bancorp by 3.0%, selling 25,168 shares to own 809,299 shares valued at approximately $38.79 million.
• A number of analysts have raised their price targets for U.S. Bancorp, with Raymond James Financial increasing their target from $51 to $57 and twelve other analysts issuing a buy rating.
• U.S. Bancorp announced a quarterly dividend increase from $0.50 to $0.52, representing a 4.1% yield with a payout ratio of 47.85% for stockholders of record by September 30th.

Wealth Enhancement Advisory Services LLC lowered its holdings in U.S. Bancorp (NYSE:USB - Free Report) by 3.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 809,299 shares of the financial services provider's stock after selling 25,168 shares during the quarter. Wealth Enhancement Advisory Services LLC owned approximately 0.05% of U.S. Bancorp worth $38,790,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Bestgate Wealth Advisors LLC grew 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 worth $339,000 after buying an additional 253 shares during the last quarter. Atlantic Family Wealth LLC grew its position in shares of U.S. Bancorp by 4.2% in 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 grew its position in shares of U.S. Bancorp by 59.4% in the 1st 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 last quarter. Plancorp LLC grew its position in shares of U.S. Bancorp by 0.6% in the 1st quarter. Plancorp LLC now owns 45,473 shares of the financial services provider's stock worth $1,920,000 after buying an additional 260 shares during the last quarter. Finally, Formidable Asset Management LLC grew its position in shares of U.S. Bancorp by 0.9% in the 1st quarter. Formidable Asset Management LLC now owns 27,830 shares of the financial services provider's stock worth $1,175,000 after buying an additional 261 shares during the last quarter. Institutional investors own 77.60% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on USB shares. Raymond James Financial raised shares of U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and lifted their price objective for the stock from $51.00 to $57.00 in a research report on Monday, July 7th. Truist Financial lifted their price objective on shares of U.S. Bancorp from $49.00 to $51.00 and gave the stock a "hold" rating in a research report on Wednesday. Oppenheimer lifted their price objective on shares of U.S. Bancorp from $66.00 to $67.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Morgan Stanley boosted their target price on shares of U.S. Bancorp from $51.00 to $52.00 and gave the stock an "overweight" rating in a research report on Friday, July 18th. Finally, Wall Street Zen raised shares of U.S. Bancorp from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $52.88.

U.S. Bancorp Stock Up 0.3%

NYSE:USB opened at $50.34 on Friday. The company has a market cap of $78.34 billion, a PE ratio of 12.04, a P/E/G ratio of 1.57 and a beta of 1.05. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $53.98. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.16. The company's 50 day moving average is $47.06 and its two-hundred day moving average is $44.14.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The financial services provider reported $1.11 EPS for the quarter, beating the consensus estimate of $1.07 by $0.04. The business had revenue of $7.06 billion for the quarter, compared to the consensus estimate of $7.07 billion. U.S. Bancorp had a net margin of 16.30% and a return on equity of 13.08%. The business's revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.98 EPS. U.S. Bancorp has set its FY 2025 guidance at EPS. Analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a $0.52 dividend. This is an increase from U.S. Bancorp's previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.08 annualized dividend and a dividend yield of 4.1%. U.S. Bancorp's payout ratio is currently 47.85%.

Insider Activity at U.S. Bancorp

In other news, EVP Souheil Badran sold 23,727 shares of the company's stock in a transaction on Monday, July 21st. The shares were sold at an average price of $46.34, for a total value of $1,099,509.18. Following 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.23% of the stock is owned by company insiders.

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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