Allworth Financial LP boosted its holdings in U.S. Bancorp (NYSE:USB – Free Report) by 8.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,301 shares of the financial services provider’s stock after buying an additional 3,510 shares during the period. Allworth Financial LP’s holdings in U.S. Bancorp were worth $1,961,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently made changes to their positions in USB. CGC Financial Services LLC bought a new position in shares of U.S. Bancorp in the fourth quarter worth approximately $25,000. BKM Wealth Management LLC purchased a new stake in shares of U.S. Bancorp during the 4th quarter valued at $26,000. Planned Solutions Inc. bought a new stake in shares of U.S. Bancorp during the 4th quarter worth $27,000. Legacy Financial Group LLC purchased a new position in U.S. Bancorp in the third quarter worth $30,000. Finally, Compass Wealth Management LLC bought a new position in U.S. Bancorp in the fourth quarter valued at $39,000. 77.60% of the stock is currently owned by institutional investors.
U.S. Bancorp Price Performance
Shares of NYSE USB opened at $43.03 on Monday. U.S. Bancorp has a 1 year low of $27.27 and a 1 year high of $45.85. The stock has a market capitalization of $67.05 billion, a P/E ratio of 13.12, a P/E/G ratio of 2.23 and a beta of 1.05. The company’s 50-day moving average is $42.22 and its 200 day moving average is $39.27. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.81.
U.S. Bancorp (NYSE:USB – Get Free Report) last posted its earnings results on Wednesday, January 17th. The financial services provider reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.28. The firm had revenue of $6.76 billion for the quarter, compared to the consensus estimate of $6.85 billion. U.S. Bancorp had a return on equity of 14.89% and a net margin of 13.36%. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.20 EPS. On average, sell-side analysts expect that U.S. Bancorp will post 3.86 earnings per share for the current year.
U.S. Bancorp Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 29th will be given a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 4.55%. The ex-dividend date of this dividend is Wednesday, March 27th. U.S. Bancorp’s dividend payout ratio is currently 59.76%.
Insider Activity
In related news, insider Timothy A. Welsh sold 12,100 shares of U.S. Bancorp stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $40.33, for a total transaction of $487,993.00. Following the completion of the transaction, the insider now directly owns 106,958 shares of the company’s stock, valued at approximately $4,313,616.14. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other U.S. Bancorp news, insider Timothy A. Welsh sold 12,100 shares of U.S. Bancorp stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $40.33, for a total transaction of $487,993.00. Following the completion of the transaction, the insider now owns 106,958 shares in the company, valued at $4,313,616.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP James L. Chosy sold 21,582 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $41.47, for a total transaction of $895,005.54. Following the completion of the transaction, the executive vice president now owns 164,880 shares in the company, valued at approximately $6,837,573.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 60,265 shares of company stock worth $2,535,903. Corporate insiders own 0.23% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on the company. Odeon Capital Group upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and set a $48.93 price objective for the company in a report on Thursday, December 14th. Compass Point raised U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their target price for the stock from $46.00 to $49.00 in a research note on Friday, March 22nd. Stephens downgraded shares of U.S. Bancorp from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, December 20th. Robert W. Baird cut shares of U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $52.00 price objective for the company. in a research note on Friday, December 15th. Finally, Wells Fargo & Company increased their target price on shares of U.S. Bancorp from $43.00 to $50.00 and gave the company an “overweight” rating in a report on Thursday, December 14th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, U.S. Bancorp has a consensus rating of “Hold” and an average target price of $46.65.
View Our Latest Analysis on USB
U.S. Bancorp Company 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.
Further Reading
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).
Receive News & Ratings for U.S. Bancorp Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for U.S. Bancorp and related companies with MarketBeat.com’s FREE daily email newsletter.
Source: defenseworld.net
