Powers Advisory Group LLC Sells 405 Shares of U.S. Bancorp (NYSE:USB)

Powers Advisory Group LLC cut its holdings in U.S. Bancorp (NYSE:USB) by 2.4% during the first quarter, Holdings Channel reports. The institutional investor owned 16,166 shares of the financial services provider’s stock after selling 405 shares during the quarter. Powers Advisory Group LLC’s holdings in U.S. Bancorp were worth $723,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Axxcess Wealth Management LLC lifted its holdings in shares of U.S. Bancorp by 8.0% during the third quarter. Axxcess Wealth Management LLC now owns 15,019 shares of the financial services provider’s stock valued at $497,000 after purchasing an additional 1,109 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of U.S. Bancorp by 26.9% in the third quarter. Ameriprise Financial Inc. now owns 3,369,395 shares of the financial services provider’s stock worth $111,459,000 after acquiring an additional 713,211 shares during the last quarter. Evergreen Capital Management LLC grew its stake in shares of U.S. Bancorp by 60.2% in the third quarter. Evergreen Capital Management LLC now owns 14,489 shares of the financial services provider’s stock worth $486,000 after acquiring an additional 5,447 shares during the last quarter. Legacy Advisors LLC increased its holdings in shares of U.S. Bancorp by 1.7% during the third quarter. Legacy Advisors LLC now owns 74,925 shares of the financial services provider’s stock valued at $2,513,000 after acquiring an additional 1,239 shares in the last quarter. Finally, Lake Street Advisors Group LLC bought a new position in U.S. Bancorp in the 3rd quarter worth about $340,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Wells Fargo & Company decreased their target price on shares of U.S. Bancorp from $50.00 to $48.00 and set an “overweight” rating for the company in a report on Thursday, April 18th. Jefferies Financial Group decreased their price objective on shares of U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating for the company in a report on Wednesday. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $45.00 price target (down previously from $52.00) on shares of U.S. Bancorp in a research note on Thursday, April 18th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $47.00 price target on shares of U.S. Bancorp in a report on Thursday, May 16th. Finally, StockNews.com downgraded U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, U.S. Bancorp presently has a consensus rating of “Hold” and a consensus price target of $45.84.

U.S. Bancorp Stock Performance

U.S. Bancorp stock traded down $0.46 during midday trading on Thursday, hitting $39.51. The stock had a trading volume of 3,715,540 shares, compared to its average volume of 8,371,646. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 1.07. U.S. Bancorp has a 52-week low of $30.47 and a 52-week high of $45.85. The company has a market capitalization of $61.65 billion, a PE ratio of 13.08, a P/E/G ratio of 3.85 and a beta of 1.04. The firm’s fifty day moving average is $40.26 and its two-hundred day moving average is $41.60.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. U.S. Bancorp had a return on equity of 13.93% and a net margin of 12.13%. The business had revenue of $6.72 billion during the quarter, compared to analyst estimates of $6.71 billion. During the same quarter in the prior year, the business posted $1.16 EPS. U.S. Bancorp’s revenue for the quarter was down 6.4% compared to the same quarter last year. On average, research analysts forecast that U.S. Bancorp will post 3.84 EPS for the current year.

U.S. Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 4.96%. The ex-dividend date of this dividend is Friday, June 28th. U.S. Bancorp’s payout ratio is currently 64.90%.

U.S. Bancorp Company Profile

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.