Cassaday & Co Wealth Management LLC Sells 5,436 Shares of U.S. Bancorp $USB

by · The Cerbat Gem

Cassaday & Co Wealth Management LLC lessened its stake in U.S. Bancorp (NYSE:USB – Free Report) by 25.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,560 shares of the financial services provider’s stock after selling 5,436 shares during the quarter. Cassaday & Co Wealth Management LLC’s holdings in U.S. Bancorp were worth $704,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Crestwood Advisors Group LLC increased its holdings in shares of U.S. Bancorp by 10.6% in the first quarter. Crestwood Advisors Group LLC now owns 6,784 shares of the financial services provider’s stock worth $286,000 after acquiring an additional 649 shares in the last quarter. Ally Financial Inc. increased its holdings in shares of U.S. Bancorp by 12.3% in the first quarter. Ally Financial Inc. now owns 91,000 shares of the financial services provider’s stock worth $3,842,000 after acquiring an additional 10,000 shares in the last quarter. United Community Bank increased its holdings in shares of U.S. Bancorp by 21.8% in the first quarter. United Community Bank now owns 49,066 shares of the financial services provider’s stock worth $2,072,000 after acquiring an additional 8,796 shares in the last quarter. Jump Financial LLC grew its holdings in shares of U.S. Bancorp by 1,952.5% during the first quarter. Jump Financial LLC now owns 840,308 shares of the financial services provider’s stock worth $35,478,000 after buying an additional 799,368 shares in the last quarter. Finally, Texas Capital Bank Wealth Management Services Inc bought a new position in shares of U.S. Bancorp during the first quarter worth about $428,000. 77.60% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Chairman Andrew Cecere sold 140,445 shares of the firm’s stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $46.34, for a total value of $6,508,221.30. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP James L. Chosy sold 26,909 shares of the firm’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 completion of the sale, the executive vice president directly owned 226,375 shares of the company’s stock, valued at approximately $10,607,932.50. The trade was a 10.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. 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. Truist Financial increased their price objective on U.S. Bancorp from $51.00 to $52.00 and gave the stock a “hold” rating in a report on Friday, October 17th. Bank of America increased their price objective on U.S. Bancorp from $54.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, October 17th. Citigroup increased their price objective on U.S. Bancorp from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, October 17th. Finally, DA Davidson increased their price objective on U.S. Bancorp from $57.00 to $59.00 and gave the stock a “buy” rating in a report on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $54.55.

Get Our Latest Analysis on U.S. Bancorp

U.S. Bancorp Stock Performance

Shares of NYSE USB opened at $46.42 on Wednesday. The stock has a 50 day moving average price of $48.06 and a 200 day moving average price of $45.71. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $53.98. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market capitalization of $72.24 billion, a PE ratio of 10.62, a price-to-earnings-growth ratio of 1.25 and a beta of 1.10.

U.S. Bancorp (NYSE:USB – Get Free Report) last issued its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.22 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 during the quarter, compared to analysts’ expectations of $7.17 billion. During the same period in the prior year, the firm posted $1.03 earnings per share. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. Analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were given a $0.52 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.5%. U.S. Bancorp’s payout ratio is 47.60%.

U.S. Bancorp Company Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding USB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for U.S. Bancorp (NYSE:USB – Free Report).