Integrated Wealth Concepts LLC Sells 39,888 Shares of U.S. Bancorp $USB

Integrated Wealth Concepts LLC lowered its stake in U.S. Bancorp (NYSE:USB) by 35.5% during the second quarter, Holdings Channel reports. The institutional investor owned 72,377 shares of the financial services provider’s stock after selling 39,888 shares during the period. Integrated Wealth Concepts LLC’s holdings in U.S. Bancorp were worth $4,372,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Dogwood Wealth Management LLC boosted its holdings in shares of U.S. Bancorp by 32.9% during the second quarter. Dogwood Wealth Management LLC now owns 687 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 170 shares during the period. Blalock Williams LLC increased its stake in shares of U.S. Bancorp by 3.8% during the second quarter. Blalock Williams LLC now owns 4,680 shares of the financial services provider’s stock worth $283,000 after purchasing an additional 171 shares during the period. Flputnam Investment Management Co. lifted its holdings in U.S. Bancorp by 1.4% during the 4th quarter. Flputnam Investment Management Co. now owns 13,721 shares of the financial services provider’s stock worth $732,000 after purchasing an additional 186 shares during the last quarter. Formidable Asset Management LLC lifted its holdings in U.S. Bancorp by 0.8% during the 1st quarter. Formidable Asset Management LLC now owns 23,373 shares of the financial services provider’s stock worth $1,247,000 after purchasing an additional 186 shares during the last quarter. Finally, FAS Wealth Partners Inc. boosted its stake in U.S. Bancorp by 0.9% in the 1st quarter. FAS Wealth Partners Inc. now owns 19,964 shares of the financial services provider’s stock valued at $1,038,000 after purchasing an additional 186 shares during the period. 77.60% of the stock is owned by institutional investors.

U.S. Bancorp Stock Performance

NYSE:USB opened at $62.86 on Friday. The company has a market cap of $97.94 billion, a price-to-earnings ratio of 12.55, a PEG ratio of 1.12 and a beta of 0.95. U.S. Bancorp has a fifty-two week low of $45.02 and a fifty-two week high of $66.07. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.82 and a current ratio of 0.83. The stock has a fifty day moving average price of $63.20 and a 200-day moving average price of $58.02.

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

U.S. Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be issued a $0.54 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $2.16 annualized dividend and a yield of 3.4%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.52. U.S. Bancorp’s payout ratio is 41.52%.

Insider Activity

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

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Oppenheimer upped their price objective on U.S. Bancorp from $73.00 to $77.00 and gave the company an “outperform” rating in a report on Friday, July 17th. Barclays boosted their target price 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. Wells Fargo & Company upped their price target on shares of U.S. Bancorp from $66.00 to $69.00 and gave the company an “overweight” rating in a research note on Friday, July 17th. CLSA set a $67.50 price target on shares of U.S. Bancorp in a research report on Monday, July 20th. Finally, BTIG Research set a $67.50 price objective on shares of U.S. Bancorp in a report on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, U.S. Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $67.06.

U.S. Bancorp Company Profile

U.S. Bancorp (NYSE:USB) is a financial services holding company and the parent organization of U.S. Bank, a full-service commercial bank. The company provides deposit accounts, consumer and business loans, mortgages, credit and debit cards, payment services, and other banking products to individuals, businesses, institutions and government entities.

Through its wealth, corporate and commercial banking operations, U.S. Bancorp also offers investment management, trust and custody services, treasury management, capital markets support, equipment finance and other specialized financial solutions.