Acumen Wealth Advisors LLC Sells 10,551 Shares of U.S. Bancorp $USB

Acumen Wealth Advisors LLC decreased its holdings in U.S. Bancorp (NYSE:USB) by 10.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 93,572 shares of the financial services provider’s stock after selling 10,551 shares during the quarter. U.S. Bancorp accounts for approximately 1.3% of Acumen Wealth Advisors LLC’s holdings, making the stock its 19th biggest position. Acumen Wealth Advisors LLC’s holdings in U.S. Bancorp were worth $4,915,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of USB. Brighton Jones LLC increased its position in U.S. Bancorp by 323.0% during the fourth quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider’s stock valued at $2,309,000 after acquiring an additional 36,863 shares during the last quarter. Empowered Funds LLC lifted its holdings in U.S. Bancorp by 2.1% in the first quarter. Empowered Funds LLC now owns 34,411 shares of the financial services provider’s stock valued at $1,453,000 after acquiring an additional 714 shares during the period. Intech Investment Management LLC boosted 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 purchasing an additional 6,252 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in U.S. Bancorp in the second quarter worth about $425,000. Finally, Nebula Research & Development LLC bought a new stake in shares of U.S. Bancorp during the 2nd quarter valued at about $701,000. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Trading Up 0.9%

Shares of USB stock opened at $63.69 on Wednesday. U.S. Bancorp has a 52-week low of $43.46 and a 52-week high of $64.84. 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 firm has a market capitalization of $98.78 billion, a PE ratio of 12.71, a PEG ratio of 1.04 and a beta of 0.96. The stock has a fifty day simple moving average of $58.24 and a two-hundred day simple moving average of $56.22.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data 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 business had revenue of $7.71 billion for the quarter, compared to the consensus estimate 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 period in the previous year, the business earned $1.11 earnings per share. On average, analysts predict that U.S. Bancorp will post 5.2 EPS 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 paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Tuesday, June 30th. U.S. Bancorp’s dividend payout ratio (DPR) is 41.52%.

Analysts Set New Price Targets

USB has been the topic of several recent research reports. Evercore upgraded shares of U.S. Bancorp from an “in-line” rating to an “outperform” rating and set a $72.00 price objective on the stock in a research note on Monday. DA Davidson increased their price target on shares of U.S. Bancorp from $72.00 to $74.00 and gave the stock a “buy” rating in a research report on Friday. Wall Street Zen upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, July 6th. BTIG Research set a $67.50 price objective on shares of U.S. Bancorp in a research report on Monday. Finally, Barclays upped their price objective on U.S. Bancorp from $67.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday. One research 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $67.00.

U.S. Bancorp News Summary

Here are the key news stories impacting U.S. Bancorp this week:

• Positive Sentiment: Evercore ISI upgraded U.S. Bancorp (USB) from in-line to outperform and set a $72 price target, pointing to meaningful upside from current levels. The Fly article
• Positive Sentiment: JPMorgan raised U.S. Bancorp (USB) from underweight to neutral and increased its price target to $67.50, citing growth in fee revenue. Benzinga article
• Positive Sentiment: Recent commentary highlighted U.S. Bancorp as a strong dividend stock, which may be supporting investor interest in the name. Zacks article
• Neutral Sentiment: Several recent articles compared USB’s year-to-date performance with other financial stocks, suggesting the stock has been performing solidly relative to peers, but these pieces were mostly informational rather than clearly market-moving. MSN article

Insider Buying and Selling

In other U.S. Bancorp news, EVP Venkatachari Dilip sold 34,522 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total value of $1,916,661.44. Following the completion of the transaction, the executive vice president directly owned 51,292 shares in the company, valued at $2,847,731.84. This represents a 40.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.21% of the company’s stock.

U.S. Bancorp 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.