Philip James Wealth Mangement LLC Lowers Position in U.S. Bancorp $USB

Philip James Wealth Mangement LLC lessened its stake in U.S. Bancorp (NYSE:USB) by 14.6% during the third quarter, Holdings Channel reports. The firm owned 76,825 shares of the financial services provider’s stock after selling 13,122 shares during the period. Philip James Wealth Mangement LLC’s holdings in U.S. Bancorp were worth $3,713,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Norges Bank bought a new position in U.S. Bancorp during the 2nd quarter valued at $971,285,000. Davis Selected Advisers raised its holdings in shares of U.S. Bancorp by 29.8% in the second quarter. Davis Selected Advisers now owns 19,331,637 shares of the financial services provider’s stock valued at $874,757,000 after purchasing an additional 4,442,623 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of U.S. Bancorp by 1,589.4% during the second quarter. Arrowstreet Capital Limited Partnership now owns 3,472,252 shares of the financial services provider’s stock valued at $157,119,000 after purchasing an additional 3,266,724 shares in the last quarter. AQR Capital Management LLC boosted its holdings in U.S. Bancorp by 354.5% during the second quarter. AQR Capital Management LLC now owns 2,855,350 shares of the financial services provider’s stock worth $129,205,000 after purchasing an additional 2,227,103 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in U.S. Bancorp by 1.4% during the second quarter. Vanguard Group Inc. now owns 143,269,275 shares of the financial services provider’s stock worth $6,482,935,000 after purchasing an additional 2,038,996 shares during the last quarter. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Price Performance

U.S. Bancorp stock opened at $55.23 on Friday. The business’s 50 day simple moving average is $51.07 and its 200 day simple moving average is $48.54. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $56.19. The company has a market cap of $85.84 billion, a price-to-earnings ratio of 12.64, a PEG ratio of 0.96 and a beta of 1.07. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.10.

U.S. Bancorp (NYSE:USB) last issued its earnings results 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 firm had revenue of $7.34 billion for the quarter, compared to analyst estimates of $7.17 billion. During the same period in the previous year, the company posted $1.03 earnings per share. The business’s revenue was up 6.8% on a year-over-year basis. Sell-side analysts forecast that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Wednesday, December 31st. U.S. Bancorp’s payout ratio is currently 47.60%.

Insider Activity

In other news, EVP James L. Chosy sold 26,909 shares of the business’s stock in a transaction that occurred on 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 document filed with the SEC, which is available at the SEC website. Also, Chairman Andrew Cecere sold 140,445 shares of the company’s stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $46.34, for a total transaction of $6,508,221.30. Following the sale, the chairman owned 1,360,414 shares in the company, valued at $63,041,584.76. The trade was a 9.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.23% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on USB shares. Morgan Stanley reiterated a “positive” rating on shares of U.S. Bancorp in a research note on Friday, October 17th. Truist Financial upped their target price on U.S. Bancorp from $52.00 to $58.00 and gave the company a “hold” rating in a report on Thursday, December 18th. Wolfe Research lowered U.S. Bancorp from an “outperform” rating to a “peer perform” rating in a report on Wednesday. Bank of America boosted their price objective 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, Weiss Ratings restated a “buy (b-)” rating on shares of U.S. Bancorp in a research note on Wednesday, October 8th. One 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, U.S. Bancorp currently has a consensus rating of “Moderate Buy” and an average price target of $56.30.

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.