59,373 U.S. Bancorp $USB Shares Sold by Hohimer Wealth Management LLC

Hohimer Wealth Management LLC reduced its stake in shares of U.S. Bancorp (NYSE:USB) by 52.5% in the 3rd quarter, Holdings Channel reports. The firm owned 53,680 shares of the financial services provider’s stock after selling 59,373 shares during the quarter. Hohimer Wealth Management LLC’s holdings in U.S. Bancorp were worth $3,101,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of USB. Edgemoor Investment Advisors Inc. grew its position in shares of U.S. Bancorp by 2.5% during the 3rd quarter. Edgemoor Investment Advisors Inc. now owns 100,682 shares of the financial services provider’s stock worth $5,815,000 after buying an additional 2,478 shares during the period. M Holdings Securities Inc. bought a new stake in shares of U.S. Bancorp in the 3rd quarter valued at $804,000. Brighton Jones LLC increased its stake in shares of U.S. Bancorp by 1.1% in the 3rd quarter. Brighton Jones LLC now owns 67,123 shares of the financial services provider’s stock valued at $3,877,000 after acquiring an additional 702 shares in the last quarter. Point Nemo Capital LLC acquired a new position in shares of U.S. Bancorp during the 3rd quarter valued at $1,343,000. Finally, StoneX Group Inc. lifted its position in shares of U.S. Bancorp by 2.4% during the 3rd quarter. StoneX Group Inc. now owns 50,515 shares of the financial services provider’s stock valued at $2,944,000 after acquiring an additional 1,165 shares during the period. 77.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on USB. Wells Fargo & Company lifted 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. Argus upped their price objective on shares of U.S. Bancorp from $63.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, July 16th. Morgan Stanley set a $68.00 price objective on shares of U.S. Bancorp in a research report on Friday, October 16th. Robert W. Baird raised their target price on U.S. Bancorp from $64.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday, July 17th. Finally, BTIG Research set a $67.50 target price on U.S. Bancorp in a research report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $68.65.

U.S. Bancorp Trading Up 0.1%

NYSE:USB opened at $59.49 on Monday. U.S. Bancorp has a 52 week low of $45.02 and a 52 week high of $66.07. The firm has a 50-day moving average price of $59.65 and a two-hundred day moving average price of $58.18. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.83 and a current ratio of 0.83. The firm has a market cap of $92.68 billion, a price-to-earnings ratio of 11.60, a price-to-earnings-growth ratio of 1.13 and a beta of 1.02.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Thursday, October 15th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.02. U.S. Bancorp had a return on equity of 13.85% and a net margin of 18.85%. The firm had revenue of $8.04 billion during the quarter, compared to the consensus estimate of $8 billion. During the same quarter in the prior year, the company earned $1.22 EPS. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, equities analysts expect that U.S. Bancorp will post 5.30 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 Thursday, October 15th. Investors of record on Wednesday, September 30th were paid a $0.54 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $2.16 dividend on an annualized basis and a yield of 3.6%. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.52. U.S. Bancorp’s dividend payout ratio (DPR) is presently 42.11%.

Insiders Place Their Bets

In related news, CEO Gunjan Kedia sold 27,267 shares of the business’s stock in a transaction 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 sale, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.21% of the company’s stock.

About U.S. Bancorp

U.S. Bancorp is the parent company of U.S. Bank, a financial services provider serving consumers, businesses, institutions and government entities across the United States. Its history traces to 1863, when one of its predecessor institutions, First National Bank of Cincinnati, was established.

U.S. Bank offers consumer and business banking, lending, payment services, wealth management, investment services and corporate trust services. Its products include checking and savings accounts, credit cards, mortgages, commercial loans and digital banking solutions.

Headquartered in Minneapolis, Minnesota, U.S.