Daymark Wealth Partners LLC Sells 43,553 Shares of U.S. Bancorp (NYSE:USB)

Daymark Wealth Partners LLC trimmed its holdings in shares of U.S. Bancorp (NYSE:USB) by 7.3% in the second quarter, HoldingsChannel reports. The institutional investor owned 552,770 shares of the financial services provider’s stock after selling 43,553 shares during the quarter. U.S. Bancorp accounts for 0.8% of Daymark Wealth Partners LLC’s portfolio, making the stock its 28th biggest position. Daymark Wealth Partners LLC’s holdings in U.S. Bancorp were worth $21,945,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Redwood Wealth Management Group LLC bought a new position in shares of U.S. Bancorp in the 2nd quarter worth $25,000. Financial Synergies Wealth Advisors Inc. bought a new stake in shares of U.S. Bancorp in the 1st quarter valued at about $30,000. 1620 Investment Advisors Inc. acquired a new stake in shares of U.S. Bancorp in the 2nd quarter valued at approximately $30,000. Eagle Bay Advisors LLC grew its holdings in U.S. Bancorp by 93.2% during the first quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 331 shares during the period. Finally, LRI Investments LLC bought a new position in shares of U.S. Bancorp during the first quarter worth $31,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, Director Aleem Gillani purchased 10,000 shares of the business’s stock in a transaction dated Thursday, July 18th. The shares were bought at an average price of $44.99 per share, for a total transaction of $449,900.00. Following the completion of the acquisition, the director now owns 10,000 shares in the company, valued at $449,900. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Down 2.0 %

USB stock opened at $44.75 on Thursday. U.S. Bancorp has a 52 week low of $30.47 and a 52 week high of $47.31. The business has a 50-day simple moving average of $44.51 and a 200 day simple moving average of $42.34. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.05. The company has a market cap of $69.83 billion, a PE ratio of 14.82, a price-to-earnings-growth ratio of 3.06 and a beta of 1.04.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.98 EPS for the quarter, beating the consensus estimate of $0.94 by $0.04. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The business had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.81 billion. During the same period in the previous year, the business earned $1.12 earnings per share. The company’s revenue was down 4.3% on a year-over-year basis. Sell-side analysts anticipate that U.S. Bancorp will post 3.86 EPS for the current fiscal year.

U.S. Bancorp announced that its Board of Directors has authorized a stock repurchase plan on Thursday, September 12th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

U.S. Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a dividend of $0.50 per share. The ex-dividend date is Monday, September 30th. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a yield of 4.47%. U.S. Bancorp’s dividend payout ratio (DPR) is currently 66.23%.

Analysts Set New Price Targets

USB has been the topic of several research analyst reports. StockNews.com raised U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. JPMorgan Chase & Co. lowered U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price target on the stock. in a research report on Thursday, June 27th. Morgan Stanley increased their target price on U.S. Bancorp from $47.00 to $54.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. The Goldman Sachs Group reduced their price target on shares of U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating for the company in a report on Wednesday, September 11th. Finally, Wells Fargo & Company raised their price objective on shares of U.S. Bancorp from $48.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, July 18th. Thirteen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, U.S. Bancorp currently has an average rating of “Hold” and a consensus target price of $48.18.

About U.S. Bancorp

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.