Oxinas Partners Wealth Management LLC Cuts Stock Position in U.S. Bancorp (NYSE:USB)

Oxinas Partners Wealth Management LLC decreased its position in shares of U.S. Bancorp (NYSE:USB) by 47.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,243 shares of the financial services provider’s stock after selling 6,483 shares during the period. Oxinas Partners Wealth Management LLC’s holdings in U.S. Bancorp were worth $324,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Truist Financial Corp increased its holdings in U.S. Bancorp by 1.4% during the 3rd quarter. Truist Financial Corp now owns 1,700,140 shares of the financial services provider’s stock worth $56,207,000 after purchasing an additional 23,487 shares during the period. Advisors Asset Management Inc. raised its holdings in U.S. Bancorp by 7.6% in the third quarter. Advisors Asset Management Inc. now owns 338,974 shares of the financial services provider’s stock valued at $11,206,000 after acquiring an additional 23,805 shares in the last quarter. Axxcess Wealth Management LLC lifted its stake in U.S. Bancorp by 8.0% in the third quarter. Axxcess Wealth Management LLC now owns 15,019 shares of the financial services provider’s stock worth $497,000 after acquiring an additional 1,109 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in U.S. Bancorp by 26.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,369,395 shares of the financial services provider’s stock worth $111,459,000 after acquiring an additional 713,211 shares in the last quarter. Finally, Evergreen Capital Management LLC increased its position in shares of U.S. Bancorp by 60.2% in the 3rd quarter. Evergreen Capital Management LLC now owns 14,489 shares of the financial services provider’s stock valued at $486,000 after purchasing an additional 5,447 shares during the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

U.S. Bancorp Stock Performance

USB traded up $0.73 on Tuesday, hitting $39.97. 9,380,725 shares of the company traded hands, compared to its average volume of 8,413,430. U.S. Bancorp has a 12-month low of $30.47 and a 12-month high of $45.85. The company has a 50 day moving average of $40.32 and a 200-day moving average of $41.65. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 1.07. The stock has a market capitalization of $62.37 billion, a PE ratio of 13.24, a PEG ratio of 3.82 and a beta of 1.04.

U.S. Bancorp (NYSE:USB) last released its earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. U.S. Bancorp had a return on equity of 13.93% and a net margin of 12.13%. The business had revenue of $6.72 billion for the quarter, compared to analyst estimates of $6.71 billion. During the same quarter in the previous year, the company posted $1.16 earnings per share. The company’s revenue for the quarter was down 6.4% compared to the same quarter last year. Sell-side analysts anticipate that U.S. Bancorp will post 3.84 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 4.90%. The ex-dividend date of this dividend is Friday, June 28th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 64.90%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on USB shares. JPMorgan Chase & Co. cut shares of U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price objective for the company. in a research report on Thursday, June 27th. HSBC raised U.S. Bancorp from a “hold” rating to a “buy” rating and upped their price objective for the stock from $47.00 to $53.00 in a research report on Thursday, March 28th. Morgan Stanley reissued an “equal weight” rating and set a $45.00 target price on shares of U.S. Bancorp in a research report on Friday, June 21st. Royal Bank of Canada restated an “outperform” rating and set a $47.00 target price on shares of U.S. Bancorp in a research note on Thursday, May 16th. Finally, Jefferies Financial Group increased their price target on shares of U.S. Bancorp from $44.00 to $46.00 and gave the company a “hold” rating in a research note on Monday, April 8th. Sixteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $46.02.

U.S. Bancorp Profile

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.