Geneos Wealth Management Inc. Sells 9,263 Shares of U.S. Bancorp $USB

Geneos Wealth Management Inc. lessened its position in shares of U.S. Bancorp (NYSE:USB) by 29.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,644 shares of the financial services provider’s stock after selling 9,263 shares during the quarter. Geneos Wealth Management Inc.’s holdings in U.S. Bancorp were worth $1,094,000 at the end of the most recent quarter.

Other hedge funds and other institutional 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 2nd quarter valued at about $25,000. Hillsdale Investment Management Inc. bought a new stake in shares of U.S. Bancorp during the second quarter worth approximately $27,000. Pineridge Advisors LLC lifted its holdings in U.S. Bancorp by 446.2% in the second 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 period. True Wealth Design LLC boosted its stake in U.S. Bancorp by 216.7% in the third quarter. True Wealth Design LLC now owns 738 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 505 shares during the last quarter. Finally, Activest Wealth Management boosted its stake in U.S. Bancorp by 846.5% in the second quarter. Activest Wealth Management now owns 814 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 728 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

USB has been the subject of several recent research reports. HSBC reiterated a “buy” rating and set a $62.00 target price on shares of U.S. Bancorp in a research report on Wednesday. Deutsche Bank Aktiengesellschaft upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and set a $52.50 price objective for the company in a report on Thursday, October 23rd. Wells Fargo & Company raised their target price on U.S. Bancorp from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, October 17th. Bank of America boosted their target price on U.S. Bancorp from $54.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Finally, Morgan Stanley reiterated a “positive” rating on shares of U.S. Bancorp in a research report on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $56.30.

U.S. Bancorp Stock Up 1.2%

Shares of U.S. Bancorp stock opened at $55.53 on Friday. The company has a market capitalization of $86.31 billion, a P/E ratio of 12.71, a price-to-earnings-growth ratio of 0.96 and a beta of 1.07. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.82 and a quick ratio of 0.82. The business has a 50-day moving average of $50.90 and a two-hundred day moving average of $48.43. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $56.19.

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

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $2.08 annualized dividend and a dividend yield of 3.7%. U.S. Bancorp’s dividend payout ratio is currently 47.60%.

Insider Buying and Selling at U.S. Bancorp

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

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.