LMG Wealth Partners LLC bought a new stake in shares of U.S. Bancorp (NYSE:USB – Free Report) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 101,832 shares of the financial services provider’s stock, valued at approximately $3,367,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in USB. BCK Partners Inc. purchased a new position in U.S. Bancorp in the first quarter valued at $2,514,000. Acadian Asset Management LLC increased its holdings in U.S. Bancorp by 3.0% in the first quarter. Acadian Asset Management LLC now owns 9,397 shares of the financial services provider’s stock valued at $499,000 after buying an additional 276 shares in the last quarter. Vontobel Holding Ltd. increased its holdings in U.S. Bancorp by 20.8% in the first quarter. Vontobel Holding Ltd. now owns 21,314 shares of the financial services provider’s stock valued at $1,176,000 after buying an additional 3,663 shares in the last quarter. Prudential PLC purchased a new position in U.S. Bancorp in the first quarter valued at $1,731,000. Finally, Candriam Luxembourg S.C.A. increased its holdings in U.S. Bancorp by 5.9% in the first quarter. Candriam Luxembourg S.C.A. now owns 86,048 shares of the financial services provider’s stock valued at $4,573,000 after buying an additional 4,827 shares in the last quarter. 75.40% of the stock is currently owned by institutional investors and hedge funds.
U.S. Bancorp Price Performance
NYSE USB traded up $0.21 during trading hours on Friday, hitting $43.52. 1,804,897 shares of the company’s stock traded hands, compared to its average volume of 13,439,721. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.80 and a quick ratio of 0.80. The company has a market capitalization of $67.76 billion, a PE ratio of 12.95, a PEG ratio of 2.05 and a beta of 1.07. The firm’s 50-day moving average is $36.67 and its 200-day moving average is $35.70. U.S. Bancorp has a 52-week low of $27.27 and a 52-week high of $49.95.
U.S. Bancorp (NYSE:USB – Get Free Report) last posted its earnings results on Wednesday, October 18th. The financial services provider reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.09. The company had revenue of $7.03 billion for the quarter, compared to analyst estimates of $7.02 billion. U.S. Bancorp had a net margin of 14.39% and a return on equity of 15.80%. U.S. Bancorp’s revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.18 EPS. Equities analysts forecast that U.S. Bancorp will post 4.32 EPS for the current fiscal year.
U.S. Bancorp Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be issued a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 4.50%. 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. U.S. Bancorp’s payout ratio is presently 58.33%.
Insider Buying and Selling at U.S. Bancorp
In other U.S. Bancorp news, insider Terrance R. Dolan sold 22,756 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 144,236 shares in the company, valued at approximately $6,496,389.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Terrance R. Dolan sold 22,756 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now directly owns 144,236 shares in the company, valued at approximately $6,496,389.44. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Shailesh M. Kotwal sold 2,046 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $40.34, for a total transaction of $82,535.64. Following the completion of the transaction, the insider now owns 112,722 shares in the company, valued at $4,547,205.48. 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 ninety days. 0.24% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on the stock. HSBC assumed coverage on shares of U.S. Bancorp in a report on Thursday, September 7th. They issued a “hold” rating and a $30.00 price objective for the company. 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 report on Friday, December 15th. Jefferies Financial Group cut their target price on shares of U.S. Bancorp from $36.00 to $31.00 in a research note on Tuesday, October 10th. Stephens cut shares of U.S. Bancorp from an “overweight” rating to an “equal weight” rating in a research note on Wednesday. Finally, Oppenheimer boosted their target price on shares of U.S. Bancorp from $60.00 to $63.00 and gave the stock an “outperform” rating in a research note on Thursday, November 16th. 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $45.76.
Read Our Latest Analysis on U.S. Bancorp
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 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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