6. CLEAN WATER AND SANITATION

68,643 Shares in U.S. Bancorp (NYSE:USB) Acquired by Litman Gregory Wealth Management LLC

Written by Amanda

Litman Gregory Wealth Management LLC acquired a new stake in shares of U.S. Bancorp (NYSE:USBFree Report) in the third quarter, according to its most recent disclosure with the SEC. The firm acquired 68,643 shares of the financial services provider’s stock, valued at approximately $2,269,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Institute for Wealth Management LLC. lifted its position in U.S. Bancorp by 3.4% in the second quarter. Institute for Wealth Management LLC. now owns 11,300 shares of the financial services provider’s stock worth $373,000 after buying an additional 368 shares during the last quarter. National Bank of Canada FI raised its holdings in shares of U.S. Bancorp by 292.1% in the third quarter. National Bank of Canada FI now owns 1,386,413 shares of the financial services provider’s stock valued at $44,555,000 after acquiring an additional 1,032,866 shares in the last quarter. New Mexico Educational Retirement Board raised its holdings in shares of U.S. Bancorp by 8.2% in the second quarter. New Mexico Educational Retirement Board now owns 67,661 shares of the financial services provider’s stock valued at $2,236,000 after acquiring an additional 5,100 shares in the last quarter. Mission Creek Capital Partners Inc. raised its holdings in shares of U.S. Bancorp by 86.9% in the first quarter. Mission Creek Capital Partners Inc. now owns 13,832 shares of the financial services provider’s stock valued at $499,000 after acquiring an additional 6,430 shares in the last quarter. Finally, WASHINGTON TRUST Co raised its holdings in shares of U.S. Bancorp by 13.9% in the second quarter. WASHINGTON TRUST Co now owns 2,590 shares of the financial services provider’s stock valued at $86,000 after acquiring an additional 317 shares in the last quarter. 75.40% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Shailesh M. Kotwal sold 2,954 shares of the stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $39.56, for a total value of $116,860.24. Following the completion of the transaction, the insider now directly owns 119,768 shares of the company’s stock, valued at approximately $4,738,022.08. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Shailesh M. Kotwal sold 2,954 shares of the stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $39.56, for a total value of $116,860.24. Following the completion of the transaction, the insider now directly owns 119,768 shares of the company’s stock, valued at approximately $4,738,022.08. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Terrance R. Dolan sold 22,756 shares of the stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $45.04, for a total value of $1,024,930.24. Following the completion of the transaction, the insider now directly owns 144,236 shares of the company’s stock, valued at $6,496,389.44. The disclosure for this sale can be found here. Insiders have sold 27,775 shares of company stock worth $1,225,108 in the last quarter. Corporate insiders own 0.24% of the company’s stock.

Analyst Upgrades and Downgrades

USB has been the topic of several analyst reports. Odeon Capital Group upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and set a $48.93 target price on the stock in a research note on Thursday, December 14th. Robert W. Baird lowered U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $52.00 target price on the stock. in a research note on Friday, December 15th. Morgan Stanley cut their target price on U.S. Bancorp from $45.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 3rd. Bank of America cut their target price on U.S. Bancorp from $45.00 to $40.00 in a research note on Tuesday, October 10th. Finally, Wells Fargo & Company lifted their target price on U.S. Bancorp from $43.00 to $50.00 and gave the company an “overweight” rating in a research note on Thursday, December 14th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $45.76.

Get Our Latest Research Report on USB

U.S. Bancorp Price Performance

Shares of NYSE:USB traded down $0.35 during midday trading on Monday, reaching $43.28. 6,441,000 shares of the company’s stock traded hands, compared to its average volume of 13,333,727. U.S. Bancorp has a 1 year low of $27.27 and a 1 year high of $49.95. The company has a market cap of $67.39 billion, a P/E ratio of 12.88, a PEG ratio of 2.01 and a beta of 1.06. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.80 and a current ratio of 0.80. The company has a fifty day simple moving average of $37.98 and a two-hundred day simple moving average of $36.22.

U.S. Bancorp (NYSE:USBGet Free Report) last announced its earnings results on Wednesday, October 18th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.09. U.S. Bancorp had a return on equity of 15.80% and a net margin of 14.39%. The firm had revenue of $7.03 billion for the quarter, compared to analyst estimates of $7.02 billion. During the same quarter last year, the firm posted $1.18 EPS. The business’s revenue was up 11.2% on a year-over-year basis. Equities analysts predict that U.S. Bancorp will post 4.31 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be given a dividend of $0.49 per share. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.53%. U.S. Bancorp’s dividend payout ratio (DPR) is 58.33%.

About U.S. Bancorp

(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 in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments.

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About the author

Amanda

Hi there, I am Amanda and I work as an editor at impactinvesting.ai;  if you are interested in my services, please reach me at amanda.impactinvesting.ai