B. Riley Wealth Advisors Inc. Invests $1.24 Million in U.S. Bancorp $USB

B. Riley Wealth Advisors Inc. acquired a new stake in shares of U.S. Bancorp (NYSE:USB) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 27,332 shares of the financial services provider’s stock, valued at approximately $1,237,000.

Several other hedge funds and other institutional investors also recently modified their holdings of USB. Vanguard Group Inc. grew its stake in U.S. Bancorp by 1.4% in the second quarter. Vanguard Group Inc. now owns 143,269,275 shares of the financial services provider’s stock worth $6,482,935,000 after purchasing an additional 2,038,996 shares in the last quarter. Geode Capital Management LLC grew its position in shares of U.S. Bancorp by 1.3% in the 2nd quarter. Geode Capital Management LLC now owns 36,632,410 shares of the financial services provider’s stock worth $1,650,305,000 after acquiring an additional 456,890 shares in the last quarter. Norges Bank acquired a new position in shares of U.S. Bancorp in the 2nd quarter worth approximately $971,285,000. Amundi increased its holdings in shares of U.S. Bancorp by 2.2% in the 1st quarter. Amundi now owns 19,907,665 shares of the financial services provider’s stock valued at $773,268,000 after acquiring an additional 422,050 shares during the last quarter. Finally, Davis Selected Advisers raised its position in shares of U.S. Bancorp by 29.8% during the 2nd quarter. Davis Selected Advisers now owns 19,331,637 shares of the financial services provider’s stock valued at $874,757,000 after acquiring an additional 4,442,623 shares in the last quarter. Institutional investors own 77.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on USB shares. Morgan Stanley reaffirmed a “positive” rating on shares of U.S. Bancorp in a report on Friday, October 17th. DA Davidson raised their price target on U.S. Bancorp from $57.00 to $59.00 and gave the stock a “buy” rating in a report on Friday, October 17th. Deutsche Bank Aktiengesellschaft raised U.S. Bancorp from a “hold” rating to a “buy” rating and set a $52.50 target price on the stock in a research report on Thursday, October 23rd. Evercore ISI upped their price target on shares of U.S. Bancorp from $49.00 to $54.00 and gave the stock an “in-line” rating in a research report on Tuesday, September 30th. Finally, The Goldman Sachs Group set a $52.00 price objective on shares of U.S. Bancorp and gave the company a “neutral” rating in a research report on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $54.16.

Insiders Place Their Bets

In related news, EVP James L. Chosy sold 26,909 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive vice president directly owned 226,375 shares of the company’s stock, valued at approximately $10,607,932.50. The trade was a 10.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Andrew Cecere sold 140,445 shares of the stock in a transaction that occurred 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 completion of the sale, the chairman owned 1,360,414 shares of the company’s stock, valued at approximately $63,041,584.76. The trade was a 9.36% decrease in their position. The SEC filing for this sale provides additional information. 0.23% of the stock is owned by corporate insiders.

U.S. Bancorp Trading Up 0.6%

Shares of USB stock opened at $53.75 on Tuesday. The stock has a 50-day simple moving average of $48.17 and a 200 day simple moving average of $47.14. The stock has a market capitalization of $83.54 billion, a P/E ratio of 12.30, a P/E/G ratio of 1.01 and a beta of 1.10. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two week high of $54.01. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.10.

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. The business had revenue of $7.34 billion for the quarter, compared to analysts’ expectations of $7.17 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.The company’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.03 EPS. On average, sell-side analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Wednesday, December 31st. U.S. Bancorp’s payout ratio is 47.60%.

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 through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.