AE Wealth Management LLC increased its stake in shares of U.S. Bancorp (NYSE:USB – Get Rating) by 14.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 911,591 shares of the financial services provider’s stock after acquiring an additional 117,607 shares during the quarter. AE Wealth Management LLC owned about 0.06% of U.S. Bancorp worth $32,863,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Moneta Group Investment Advisors LLC raised its position in U.S. Bancorp by 130,768.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 60,273,882 shares of the financial services provider’s stock valued at $2,628,544,000 after purchasing an additional 60,227,825 shares during the last quarter. Mufg Bank LTD. acquired a new position in U.S. Bancorp in the fourth quarter valued at $1,935,157,000. Price T Rowe Associates Inc. MD raised its holdings in shares of U.S. Bancorp by 912.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 32,756,814 shares of the financial services provider’s stock valued at $1,428,525,000 after buying an additional 29,521,176 shares during the last quarter. Norges Bank acquired a new stake in shares of U.S. Bancorp during the fourth quarter worth about $644,436,000. Finally, CIBC Private Wealth Group LLC grew its holdings in shares of U.S. Bancorp by 101.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 11,361,450 shares of the financial services provider’s stock worth $492,609,000 after buying an additional 5,716,555 shares during the last quarter. 74.61% of the stock is owned by hedge funds and other institutional investors.
U.S. Bancorp Price Performance
U.S. Bancorp stock opened at $31.88 on Friday. The firm has a market capitalization of $48.87 billion, a PE ratio of 8.48, a P/E/G ratio of 1.07 and a beta of 0.93. U.S. Bancorp has a 52 week low of $27.27 and a 52 week high of $49.95. The firm’s 50-day simple moving average is $31.73 and its 200 day simple moving average is $39.29. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.90.
U.S. Bancorp (NYSE:USB – Get Rating) last announced its quarterly earnings results on Wednesday, April 19th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.09). U.S. Bancorp had a net margin of 19.21% and a return on equity of 16.70%. The business had revenue of $7.18 billion during the quarter, compared to analysts’ expectations of $7.14 billion. During the same period last year, the company earned $0.99 EPS. The firm’s revenue for the quarter was up 28.2% on a year-over-year basis. On average, equities research analysts predict that U.S. Bancorp will post 4.59 EPS for the current fiscal year.
U.S. Bancorp Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, July 17th. Stockholders of record on Friday, June 30th will be issued a $0.48 dividend. The ex-dividend date is Thursday, June 29th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 6.02%. U.S. Bancorp’s dividend payout ratio (DPR) is 51.06%.
Analysts Set New Price Targets
Several brokerages have weighed in on USB. Piper Sandler lowered their target price on U.S. Bancorp from $57.00 to $53.00 in a research note on Friday, March 10th. Barclays lowered their price objective on shares of U.S. Bancorp from $68.00 to $52.00 in a research report on Wednesday, April 12th. Wells Fargo & Company cut their price objective on shares of U.S. Bancorp from $60.00 to $55.00 and set an “overweight” rating for the company in a research report on Monday, April 3rd. Citigroup lowered their target price on shares of U.S. Bancorp from $39.00 to $33.00 in a report on Sunday, June 11th. Finally, Morgan Stanley dropped their price target on shares of U.S. Bancorp from $46.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 20th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $49.84.
Insider Activity
In related news, Director Alan B. Colberg acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, April 21st. The stock was purchased at an average price of $34.14 per share, for a total transaction of $341,400.00. Following the transaction, the director now owns 10,050 shares in the company, valued at approximately $343,107. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other U.S. Bancorp news, Director Alan B. Colberg acquired 10,000 shares of the firm’s stock in a transaction dated Friday, April 21st. The shares were acquired at an average price of $34.14 per share, for a total transaction of $341,400.00. Following the completion of the acquisition, the director now directly owns 10,050 shares of the company’s stock, valued at $343,107. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider James B. Kelligrew bought 16,260 shares of the company’s stock in a transaction that occurred on Monday, May 8th. The stock was acquired at an average price of $30.59 per share, with a total value of $497,393.40. Following the completion of the purchase, the insider now directly owns 151,927 shares of the company’s stock, valued at approximately $4,647,446.93. The disclosure for this purchase can be found here. Insiders have purchased 76,698 shares of company stock worth $2,446,082 over the last three months. 0.24% of the stock is currently owned by corporate insiders.
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 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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