Daymark Wealth Partners LLC Has $20.05 Million Stake in U.S. Bancorp $USB

Daymark Wealth Partners LLC reduced its stake in U.S. Bancorp (NYSE:USB) by 14.4% in the 3rd quarter, Holdings Channel reports. The firm owned 414,757 shares of the financial services provider’s stock after selling 69,920 shares during the period. Daymark Wealth Partners LLC’s holdings in U.S. Bancorp were worth $20,045,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. IMG Wealth Management Inc. bought a new position in shares of U.S. Bancorp in the second quarter valued at approximately $25,000. Hillsdale Investment Management Inc. bought a new stake in shares of U.S. Bancorp during the 2nd quarter worth $27,000. Pineridge Advisors LLC grew its stake in U.S. Bancorp by 446.2% in the 2nd quarter. Pineridge Advisors LLC now owns 639 shares of the financial services provider’s stock valued at $29,000 after buying an additional 522 shares during the last quarter. True Wealth Design LLC raised its holdings in U.S. Bancorp by 216.7% in the 3rd quarter. True Wealth Design LLC now owns 738 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 505 shares during the period. Finally, Activest Wealth Management raised its holdings in U.S. Bancorp by 846.5% in the 2nd quarter. Activest Wealth Management now owns 814 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 728 shares during the period. Institutional investors own 77.60% of the company’s stock.

Insiders Place Their Bets

In related news, EVP James L. Chosy sold 26,909 shares of the company’s stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $46.86, for a total value of $1,260,955.74. Following the sale, the executive vice president owned 226,375 shares of the company’s stock, valued at $10,607,932.50. The trade was a 10.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Andrew Cecere sold 140,445 shares of the stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $46.34, for a total transaction of $6,508,221.30. Following the completion of the transaction, the chairman directly owned 1,360,414 shares of the company’s stock, valued at $63,041,584.76. This trade represents a 9.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

USB has been the subject of a number of recent analyst reports. Evercore ISI upped their price target on shares of U.S. Bancorp from $49.00 to $54.00 and gave the company an “in-line” rating in a report on Tuesday, September 30th. Cowen reissued a “buy” rating on shares of U.S. Bancorp in a research report on Monday, October 20th. Oppenheimer lowered their target price on U.S. Bancorp from $66.00 to $64.00 and set an “outperform” rating on the stock in a report on Wednesday, November 19th. TD Cowen lifted their price target on U.S. Bancorp from $59.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, October 20th. Finally, Keefe, Bruyette & Woods increased their price objective on U.S. Bancorp from $53.00 to $58.00 and gave the company a “market perform” rating in a research report on Wednesday, December 17th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, U.S. Bancorp has a consensus rating of “Moderate Buy” and an average price target of $54.95.

U.S. Bancorp Trading Up 1.0%

U.S. Bancorp stock opened at $53.90 on Monday. The business has a 50 day moving average price of $50.23 and a two-hundred day moving average price of $48.16. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.10. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $55.15. The stock has a market cap of $83.79 billion, a price-to-earnings ratio of 12.34, a price-to-earnings-growth ratio of 0.95 and a beta of 1.07.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.11. The company had revenue of $7.34 billion for the quarter, compared to analyst estimates of $7.17 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.U.S. Bancorp’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.03 EPS. As a group, equities analysts forecast that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Wednesday, December 31st. U.S. Bancorp’s payout ratio is 47.60%.

U.S. Bancorp Company 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.