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

HORAN Wealth LLC reduced its stake in U.S. Bancorp (NYSE:USB) by 49.9% during the second quarter, Holdings Channel.com reports. The institutional investor owned 36,892 shares of the financial services provider’s stock after selling 36,716 shares during the period. HORAN Wealth LLC’s holdings in U.S. Bancorp were worth $2,228,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in shares of U.S. Bancorp by 323.0% during the 4th quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider’s stock worth $2,309,000 after purchasing an additional 36,863 shares during the last quarter. Empowered Funds LLC grew its holdings in U.S. Bancorp by 2.1% during the first quarter. Empowered Funds LLC now owns 34,411 shares of the financial services provider’s stock valued at $1,453,000 after purchasing an additional 714 shares during the period. Intech Investment Management LLC increased its position in U.S. Bancorp by 18.9% in the first quarter. Intech Investment Management LLC now owns 39,276 shares of the financial services provider’s stock worth $1,658,000 after buying an additional 6,252 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in shares of U.S. Bancorp in the second quarter valued at $425,000. Finally, Nebula Research & Development LLC purchased a new position in shares of U.S. Bancorp during the 2nd quarter valued at $701,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on USB. DA Davidson boosted their price objective on U.S. Bancorp from $72.00 to $74.00 and gave the company a “buy” rating in a research note on Friday, July 17th. Barclays boosted their price target on shares of U.S. Bancorp from $67.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday, July 17th. Weiss Ratings reiterated a “buy (b)” rating on shares of U.S. Bancorp in a research note on Friday, July 31st. CLSA set a $67.50 target price on shares of U.S. Bancorp in a report on Monday, July 20th. Finally, Morgan Stanley increased their target price on 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. One 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $67.06.

Insider Transactions at U.S. Bancorp

In other news, insider Stephen L. Philipson sold 36,906 shares of the business’s stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $63.08, for a total transaction of $2,328,030.48. Following the completion of the transaction, the insider owned 74,969 shares of the company’s stock, valued at approximately $4,729,044.52. The trade was a 32.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gunjan Kedia sold 27,267 shares of the company’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $62.37, for a total transaction of $1,700,642.79. Following the completion of the transaction, the chief executive officer owned 426,262 shares in the company, valued at approximately $26,585,960.94. This trade represents a 6.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is owned by corporate insiders.

U.S. Bancorp Stock Performance

U.S. Bancorp stock opened at $63.36 on Monday. U.S. Bancorp has a 1-year low of $45.02 and a 1-year high of $66.07. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $98.72 billion, a PE ratio of 12.65, a price-to-earnings-growth ratio of 1.13 and a beta of 0.95. The firm’s 50 day simple moving average is $63.07 and its 200 day simple moving average is $57.87.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.35 EPS for the quarter, beating the consensus estimate of $1.28 by $0.07. The firm had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.58 billion. U.S. Bancorp had a net margin of 18.49% and a return on equity of 13.69%. During the same period last year, the firm earned $1.11 EPS. As a group, analysts expect that U.S. Bancorp will post 5.22 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 3.3%. The ex-dividend date was Tuesday, June 30th. U.S. Bancorp’s payout ratio is presently 41.52%.

U.S. Bancorp Company Profile

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.