Gradient Investments LLC Grows Stock Position in U.S. Bancorp $USB

Gradient Investments LLC increased its stake in U.S. Bancorp (NYSE:USB) by 3,500.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 289,749 shares of the financial services provider’s stock after buying an additional 281,702 shares during the quarter. Gradient Investments LLC’s holdings in U.S. Bancorp were worth $14,004,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of USB. Venture Visionary Partners LLC boosted its stake in shares of U.S. Bancorp by 135.8% during the 3rd quarter. Venture Visionary Partners LLC now owns 18,094 shares of the financial services provider’s stock worth $874,000 after purchasing an additional 10,422 shares during the period. Nilsine Partners LLC bought a new stake in U.S. Bancorp in the third quarter worth about $322,000. Cardinal Capital Management Inc. boosted its position in shares of U.S. Bancorp by 698.5% during the third quarter. Cardinal Capital Management Inc. now owns 243,101 shares of the financial services provider’s stock valued at $11,749,000 after buying an additional 212,655 shares during the period. Summit Financial Wealth Advisors LLC boosted its position in shares of U.S. Bancorp by 1.6% during the third quarter. Summit Financial Wealth Advisors LLC now owns 105,074 shares of the financial services provider’s stock valued at $5,031,000 after buying an additional 1,656 shares during the period. Finally, Aaron Wealth Advisors LLC grew its stake in shares of U.S. Bancorp by 100.4% during the third quarter. Aaron Wealth Advisors LLC now owns 17,715 shares of the financial services provider’s stock valued at $856,000 after buying an additional 8,873 shares during the last quarter. Institutional investors own 77.60% of the company’s stock.

Wall Street Analyst Weigh In

USB has been the subject of a number of research analyst reports. Truist Financial raised their price target on U.S. Bancorp from $51.00 to $52.00 and gave the stock a “hold” rating in a research note on Friday, October 17th. Wells Fargo & Company boosted their target price on shares of U.S. Bancorp from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Friday, October 17th. Keefe, Bruyette & Woods upped their price target on shares of U.S. Bancorp from $53.00 to $58.00 and gave the stock a “market perform” rating in a report on Wednesday. TD Cowen lifted their price objective on shares of U.S. Bancorp from $59.00 to $60.00 and gave the company a “buy” rating in a report on Monday, October 20th. Finally, Bank of America boosted their price objective on shares of U.S. Bancorp from $54.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $54.63.

Insider Buying and Selling at U.S. Bancorp

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

U.S. Bancorp Stock Up 0.5%

NYSE:USB opened at $53.75 on Thursday. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.82 and a quick ratio of 0.82. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $54.04. The company has a 50-day moving average of $48.43 and a 200 day moving average of $47.26. The firm has a market cap of $83.55 billion, a PE ratio of 12.30, a price-to-earnings-growth ratio of 1.01 and a beta of 1.10.

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

U.S. Bancorp Dividend Announcement

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

About U.S. Bancorp

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.