Daymark Wealth Partners LLC Trims Position in U.S. Bancorp (NYSE:USB)

Daymark Wealth Partners LLC reduced its holdings in U.S. Bancorp (NYSE:USB) by 1.5% during the 4th quarter, Holdings Channel reports. The fund owned 545,269 shares of the financial services provider’s stock after selling 8,280 shares during the period. U.S. Bancorp makes up about 0.9% of Daymark Wealth Partners LLC’s holdings, making the stock its 25th largest holding. Daymark Wealth Partners LLC’s holdings in U.S. Bancorp were worth $26,080,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Madison Park Capital Advisors LLC purchased a new stake in U.S. Bancorp in the fourth quarter valued at $234,000. Albion Financial Group UT boosted its stake in shares of U.S. Bancorp by 92.8% in the fourth quarter. Albion Financial Group UT now owns 696 shares of the financial services provider’s stock worth $33,000 after buying an additional 335 shares during the last quarter. Global Trust Asset Management LLC acquired a new stake in U.S. Bancorp during the fourth quarter worth about $33,000. MBM Wealth Consultants LLC raised its position in U.S. Bancorp by 5.3% during the fourth quarter. MBM Wealth Consultants LLC now owns 8,134 shares of the financial services provider’s stock valued at $389,000 after acquiring an additional 407 shares in the last quarter. Finally, XML Financial LLC lifted its holdings in U.S. Bancorp by 2.5% in the fourth quarter. XML Financial LLC now owns 67,997 shares of the financial services provider’s stock valued at $3,252,000 after acquiring an additional 1,671 shares during the period. Institutional investors and hedge funds own 77.60% of the company’s stock.

Analyst Ratings Changes

USB has been the subject of several recent research reports. Barclays lifted their target price on shares of U.S. Bancorp from $57.00 to $61.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Evercore ISI increased their target price on shares of U.S. Bancorp from $51.00 to $54.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 30th. Compass Point raised their target price on U.S. Bancorp from $49.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. DA Davidson raised U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their price target for the stock from $58.00 to $60.00 in a report on Thursday, January 2nd. Finally, Truist Financial started coverage on U.S. Bancorp in a report on Tuesday, January 7th. They issued a “hold” rating and a $54.00 price objective on the stock. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, U.S. Bancorp has a consensus rating of “Moderate Buy” and an average price target of $54.21.

U.S. Bancorp Trading Up 2.0 %

Shares of USB stock opened at $49.33 on Wednesday. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. U.S. Bancorp has a twelve month low of $37.81 and a twelve month high of $53.98. The company’s 50-day moving average price is $50.10 and its 200-day moving average price is $47.02. The stock has a market cap of $76.96 billion, a price-to-earnings ratio of 13.02, a PEG ratio of 1.80 and a beta of 1.05.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.01. The company had revenue of $7.01 billion for the quarter, compared to analyst estimates of $7 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. U.S. Bancorp’s revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.99 EPS. As a group, equities analysts predict that U.S. Bancorp will post 4.37 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a $0.50 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $2.00 dividend on an annualized basis and a yield of 4.05%. U.S. Bancorp’s dividend payout ratio is currently 52.77%.

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.