Stratos Wealth Advisors LLC Trims Stock Position in U.S. Bancorp (NYSE:USB)

Posted by Defense World Staff on Jul 17th, 2023

U.S. Bancorp logo Stratos Wealth Advisors LLC trimmed its holdings in U.S. Bancorp (NYSE:USB – Free Report) by 54.1% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 7,961 shares of the financial services provider’s stock after selling 9,366 shares during the period. Stratos Wealth Advisors LLC’s holdings in U.S. Bancorp were worth $287,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in USB. Retirement Financial Solutions LLC purchased a new stake in U.S. Bancorp in the 4th quarter valued at about $25,000. Hollencrest Capital Management purchased a new stake in shares of U.S. Bancorp in the 4th quarter valued at approximately $26,000. EWG Elevate Inc. purchased a new stake in shares of U.S. Bancorp in the 4th quarter valued at approximately $28,000. SRS Capital Advisors Inc. lifted its holdings in shares of U.S. Bancorp by 46.9% in the 4th quarter. SRS Capital Advisors Inc. now owns 673 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 215 shares during the last quarter. Finally, Core Alternative Capital boosted its position in shares of U.S. Bancorp by 85.7% during the 1st quarter. Core Alternative Capital now owns 741 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 342 shares during the period. Institutional investors and hedge funds own 74.61% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on USB shares. UBS Group cut U.S. Bancorp from a “buy” rating to a “neutral” rating in a research note on Monday, April 10th. StockNews.com cut U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Friday, May 12th. TheStreet lowered shares of U.S. Bancorp from a “b-” rating to a “c+” rating in a research note on Tuesday, May 2nd. Citigroup lowered their price objective on shares of U.S. Bancorp from $39.00 to $33.00 in a research note on Sunday, June 11th. Finally, Robert W. Baird raised shares of U.S. Bancorp from a “neutral” rating to an “outperform” rating and set a $52.00 target price on the stock in a research note on Monday, March 20th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $49.37.

U.S. Bancorp Stock Down 1.3 %

Shares of NYSE:USB opened at $35.33 on Monday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.90. The firm has a 50 day simple moving average of $32.01 and a 200-day simple moving average of $38.27. The company has a market capitalization of $54.16 billion, a PE ratio of 9.40, a P/E/G ratio of 1.60 and a beta of 0.96. U.S. Bancorp has a twelve month low of $27.27 and a twelve month high of $49.95.

U.S. Bancorp (NYSE:USB – Get Free Report) last released its quarterly earnings data on Wednesday, April 19th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.09). The company had revenue of $7.18 billion during the quarter, compared to analyst estimates of $7.14 billion. U.S. Bancorp had a net margin of 19.21% and a return on equity of 16.70%. The business’s revenue was up 28.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.99 EPS. On average, equities analysts predict that U.S. Bancorp will post 4.43 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 17th. Stockholders of record on Friday, June 30th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Thursday, June 29th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 5.43%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 51.06%.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, Director Scott W. Wine acquired 30,438 shares of the company’s stock in a transaction on Friday, April 28th. The shares were bought at an average cost of $32.85 per share, for a total transaction of $999,888.30. Following the completion of the purchase, the director now owns 30,438 shares in the company, valued at approximately $999,888.30. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Richard P. Mckenney purchased 20,000 shares of the company’s stock in a transaction dated Friday, May 5th. The shares were acquired at an average cost of $30.37 per share, for a total transaction of $607,400.00. Following the completion of the purchase, the director now directly owns 20,000 shares in the company, valued at approximately $607,400. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Scott W. Wine acquired 30,438 shares of the stock in a transaction on Friday, April 28th. The stock was acquired at an average cost of $32.85 per share, for a total transaction of $999,888.30. Following the acquisition, the director now directly owns 30,438 shares in the company, valued at approximately $999,888.30. The disclosure for this purchase can be found here. Insiders acquired a total of 76,698 shares of company stock worth $2,446,082 in the last 90 days. 0.24% of the stock is owned by insiders.

U.S. Bancorp Profile

(Free Report)

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 in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments.