U.S. Bancorp (NYSE:USB) Position Boosted by J.W. Cole Advisors Inc.

J.W. Cole Advisors Inc. increased its holdings in U.S. Bancorp (NYSE:USBGet Rating) by 9.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,960 shares of the financial services provider’s stock after buying an additional 1,079 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in U.S. Bancorp were worth $636,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in USB. Versant Capital Management Inc boosted its stake in U.S. Bancorp by 54.4% during the 1st quarter. Versant Capital Management Inc now owns 1,135 shares of the financial services provider’s stock valued at $60,000 after purchasing an additional 400 shares in the last quarter. Arkadios Wealth Advisors boosted its stake in U.S. Bancorp by 107.1% during the 1st quarter. Arkadios Wealth Advisors now owns 20,610 shares of the financial services provider’s stock valued at $1,095,000 after purchasing an additional 10,658 shares in the last quarter. Beacon Financial Group boosted its stake in U.S. Bancorp by 3.8% during the 1st quarter. Beacon Financial Group now owns 11,209 shares of the financial services provider’s stock valued at $614,000 after purchasing an additional 407 shares in the last quarter. DNB Asset Management AS boosted its stake in U.S. Bancorp by 11.6% during the 1st quarter. DNB Asset Management AS now owns 329,048 shares of the financial services provider’s stock valued at $17,489,000 after purchasing an additional 34,169 shares in the last quarter. Finally, Avestar Capital LLC boosted its stake in U.S. Bancorp by 28.8% during the 1st quarter. Avestar Capital LLC now owns 6,224 shares of the financial services provider’s stock valued at $334,000 after purchasing an additional 1,393 shares in the last quarter. 74.93% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

USB has been the subject of several research reports. Wells Fargo & Company reduced their price objective on U.S. Bancorp from $70.00 to $60.00 and set an “overweight” rating for the company in a research note on Friday, July 1st. Oppenheimer set a $68.00 price objective on U.S. Bancorp in a research note on Tuesday, July 19th. Citigroup raised their price objective on U.S. Bancorp to $52.00 in a research note on Friday, July 22nd. Piper Sandler set a $50.00 price objective on U.S. Bancorp in a research note on Tuesday, July 19th. Finally, Morgan Stanley raised their price objective on U.S. Bancorp from $54.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Monday, July 18th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $58.56.

U.S. Bancorp Stock Performance

NYSE:USB opened at $45.87 on Monday. The stock’s 50 day moving average price is $46.99 and its 200 day moving average price is $49.64. U.S. Bancorp has a 52 week low of $43.74 and a 52 week high of $63.57. The company has a market capitalization of $68.15 billion, a P/E ratio of 10.54, a P/E/G ratio of 1.59 and a beta of 0.97. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.74 and a current ratio of 0.75.

U.S. Bancorp (NYSE:USBGet Rating) last released its quarterly earnings data on Friday, July 15th. The financial services provider reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. U.S. Bancorp had a return on equity of 15.05% and a net margin of 28.08%. The firm had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $5.89 billion. During the same quarter in the prior year, the company posted $1.28 earnings per share. The firm’s revenue was up 4.0% on a year-over-year basis. On average, research analysts forecast that U.S. Bancorp will post 4.45 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Friday, September 30th will be issued a $0.48 dividend. The ex-dividend date is Thursday, September 29th. This represents a $1.92 dividend on an annualized basis and a yield of 4.19%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.46. U.S. Bancorp’s dividend payout ratio is currently 42.30%.

U.S. Bancorp Profile

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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.

Further Reading

Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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