U.S. Bancorp $USB Shares Acquired by Allworth Financial LP

Allworth Financial LP raised its holdings in U.S. Bancorp (NYSE:USB) by 20.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 92,769 shares of the financial services provider’s stock after purchasing an additional 15,931 shares during the quarter. Allworth Financial LP’s holdings in U.S. Bancorp were worth $4,198,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in USB. Curbstone Financial Management Corp grew its position in U.S. Bancorp by 0.6% during the second quarter. Curbstone Financial Management Corp now owns 39,982 shares of the financial services provider’s stock valued at $1,809,000 after buying an additional 222 shares during the period. Crestwood Advisors Group LLC boosted its stake in shares of U.S. Bancorp by 3.5% in the second quarter. Crestwood Advisors Group LLC now owns 7,021 shares of the financial services provider’s stock worth $318,000 after acquiring an additional 237 shares during the last quarter. Mechanics Financial Corp grew its holdings in shares of U.S. Bancorp by 5.3% during the second quarter. Mechanics Financial Corp now owns 4,806 shares of the financial services provider’s stock worth $217,000 after buying an additional 240 shares in the last quarter. Northern Financial Advisors Inc raised its holdings in U.S. Bancorp by 5.0% in the 2nd quarter. Northern Financial Advisors Inc now owns 5,033 shares of the financial services provider’s stock valued at $228,000 after acquiring an additional 241 shares during the last quarter. Finally, Lawson Kroeker Investment Management Inc. NE increased its holdings in shares of U.S. Bancorp by 0.5% in the second quarter. Lawson Kroeker Investment Management Inc. NE now owns 46,109 shares of the financial services provider’s stock valued at $2,086,000 after purchasing an additional 249 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Stock Up 0.1%

USB stock opened at $47.62 on Wednesday. U.S. Bancorp has a one year low of $35.18 and a one year high of $53.98. The company has a fifty day moving average of $47.91 and a 200-day moving average of $45.99. The stock has a market capitalization of $74.02 billion, a PE ratio of 10.90, a price-to-earnings-growth ratio of 1.25 and a beta of 1.10. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.82 and a current ratio of 0.82.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Thursday, October 16th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.11. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.The business had revenue of $7.34 billion during the quarter, compared to the consensus estimate of $7.17 billion. During the same period in the prior year, the business posted $1.03 EPS. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. As a group, analysts expect that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date was Tuesday, September 30th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.50. U.S. Bancorp’s payout ratio is 47.60%.

Wall Street Analyst Weigh In

A number of brokerages have commented on USB. Wells Fargo & Company lifted their target price on shares of U.S. Bancorp from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Friday, October 17th. DA Davidson increased their price target on shares of U.S. Bancorp from $57.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Oppenheimer decreased their target price on U.S. Bancorp from $67.00 to $66.00 and set an “outperform” rating for the company in a report on Tuesday, September 23rd. Citigroup boosted their price target on shares of U.S. Bancorp from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, October 17th. Finally, Truist Financial raised their target price on U.S. Bancorp from $51.00 to $52.00 and gave the stock a “hold” rating in a research report on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $54.55.

Insiders Place Their Bets

In other U.S. Bancorp news, Chairman Andrew Cecere sold 140,445 shares of the stock in a transaction on Monday, October 20th. The stock was sold at an average price of $46.34, for a total transaction of $6,508,221.30. Following the sale, the chairman owned 1,360,414 shares in the company, valued at approximately $63,041,584.76. This represents a 9.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP James L. Chosy sold 26,909 shares of the business’s stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $46.86, for a total transaction of $1,260,955.74. Following the completion of the transaction, the executive vice president directly owned 226,375 shares of the company’s stock, valued at $10,607,932.50. The trade was a 10.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.23% of the stock is currently owned by insiders.

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.