IFP Advisors Inc grew its stake in U.S. Bancorp (NYSE:USB – Free Report) by 19.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,237 shares of the financial services provider’s stock after buying an additional 1,974 shares during the period. IFP Advisors Inc’s holdings in U.S. Bancorp were worth $405,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Bank Julius Baer & Co. Ltd Zurich grew its stake in U.S. Bancorp by 97,087.5% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 683,204,992 shares of the financial services provider’s stock worth $22,573,093,000 after purchasing an additional 682,502,016 shares during the period. BlackRock Inc. grew its stake in U.S. Bancorp by 6.0% during the second quarter. BlackRock Inc. now owns 110,704,962 shares of the financial services provider’s stock worth $3,657,692,000 after purchasing an additional 6,307,085 shares during the period. State Street Corp grew its stake in U.S. Bancorp by 4.0% during the second quarter. State Street Corp now owns 60,462,681 shares of the financial services provider’s stock worth $2,026,405,000 after purchasing an additional 2,300,777 shares during the period. Moneta Group Investment Advisors LLC grew its stake in U.S. Bancorp by 130,768.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 60,273,882 shares of the financial services provider’s stock worth $2,628,544,000 after purchasing an additional 60,227,825 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in U.S. Bancorp by 43.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 46,837,595 shares of the financial services provider’s stock worth $1,688,496,000 after purchasing an additional 14,080,781 shares during the period. Institutional investors and hedge funds own 75.40% of the company’s stock.
Insider Activity
In other news, insider Shailesh M. Kotwal sold 2,954 shares of U.S. Bancorp 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 in the company, valued at $4,738,022.08. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Shailesh M. Kotwal sold 2,954 shares of U.S. Bancorp 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 in the company, valued at $4,738,022.08. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Shailesh M. Kotwal sold 2,046 shares of the business’s stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $40.34, for a total value of $82,535.64. Following the transaction, the insider now owns 112,722 shares of the company’s stock, valued at $4,547,205.48. The disclosure for this sale can be found here. Over the last three months, insiders sold 27,775 shares of company stock worth $1,225,108. 0.24% of the stock is owned by corporate insiders.
U.S. Bancorp Stock Performance
NYSE:USB opened at $43.51 on Tuesday. 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 business has a fifty day simple moving average of $37.11 and a two-hundred day simple moving average of $35.90. U.S. Bancorp has a 1 year low of $27.27 and a 1 year high of $49.95. The company has a market capitalization of $67.75 billion, a P/E ratio of 12.95, a P/E/G ratio of 2.05 and a beta of 1.07.
U.S. Bancorp (NYSE:USB – Get Free Report) last released its earnings results on Wednesday, October 18th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, topping 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 business had revenue of $7.03 billion during the quarter, compared to the consensus estimate of $7.02 billion. During the same period last year, the business posted $1.18 earnings per share. The business’s revenue for the quarter was up 11.2% on a year-over-year basis. On average, analysts expect that U.S. Bancorp will post 4.32 earnings per share for the current year.
U.S. Bancorp Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be given a $0.49 dividend. The ex-dividend date is Thursday, December 28th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.48. This represents a $1.96 annualized dividend and a dividend yield of 4.50%. U.S. Bancorp’s payout ratio is 58.33%.
Wall Street Analysts Forecast Growth
Several equities research analysts recently commented on the company. Piper Sandler raised their target price on U.S. Bancorp from $38.00 to $44.00 and gave the stock an “overweight” rating in a research note on Friday, December 8th. Bank of America cut their price target on U.S. Bancorp from $45.00 to $40.00 in a report on Tuesday, October 10th. StockNews.com assumed coverage on U.S. Bancorp in a report on Thursday, October 5th. They issued a “sell” rating on the stock. Jefferies Financial Group cut their price target on U.S. Bancorp from $36.00 to $31.00 in a report on Tuesday, October 10th. Finally, Odeon Capital Group upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and set a $48.93 price target on the stock in a report on Thursday, December 14th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average 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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Source: defenseworld.net
