Brighton Jones LLC Purchases 16,298 Shares of U.S. Bancorp $USB

Brighton Jones LLC increased its position in shares of U.S. Bancorp (NYSE:USB) by 41.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 55,734 shares of the financial services provider’s stock after buying an additional 16,298 shares during the quarter. Brighton Jones LLC’s holdings in U.S. Bancorp were worth $2,694,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in USB. Vanguard Group Inc. raised its position in shares of U.S. Bancorp by 1.4% during 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 during the period. Geode Capital Management LLC raised its holdings in U.S. Bancorp by 1.3% during the second quarter. Geode Capital Management LLC now owns 36,632,410 shares of the financial services provider’s stock worth $1,650,305,000 after buying an additional 456,890 shares during the last quarter. Norges Bank acquired a new position in U.S. Bancorp during the second quarter worth $971,285,000. Amundi lifted its stake in shares of U.S. Bancorp by 2.2% in the first quarter. Amundi now owns 19,907,665 shares of the financial services provider’s stock valued at $773,268,000 after buying an additional 422,050 shares in the last quarter. Finally, Davis Selected Advisers grew its holdings in shares of U.S. Bancorp by 29.8% during the second quarter. Davis Selected Advisers now owns 19,331,637 shares of the financial services provider’s stock valued at $874,757,000 after buying an additional 4,442,623 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insider Activity

In other news, Chairman Andrew Cecere sold 140,445 shares of the firm’s stock in a transaction that occurred on Monday, October 20th. The shares were 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 in the company, valued at $63,041,584.76. This trade represents a 9.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP James L. Chosy sold 26,909 shares of the company’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 value of $1,260,955.74. Following the completion of the transaction, the executive vice president owned 226,375 shares in the company, valued at approximately $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. Insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Performance

Shares of USB opened at $54.89 on Tuesday. The stock has a 50 day moving average of $48.92 and a 200 day moving average of $47.50. The company has a market capitalization of $85.33 billion, a price-to-earnings ratio of 12.56, a PEG ratio of 1.02 and a beta of 1.10. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $54.90. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.10.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $7.34 billion during the quarter, compared to the consensus estimate of $7.17 billion. During the same quarter in the prior year, the company earned $1.03 EPS. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. As a group, sell-side analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Wednesday, December 31st. U.S. Bancorp’s dividend payout ratio (DPR) is 47.60%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company upped their target price on shares of U.S. Bancorp from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, October 17th. DA Davidson increased their price objective on U.S. Bancorp from $57.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, October 17th. Keefe, Bruyette & Woods raised their target price on U.S. Bancorp from $53.00 to $58.00 and gave the company a “market perform” rating in a report on Wednesday, December 17th. Truist Financial upped their price target on U.S. Bancorp from $52.00 to $58.00 and gave the stock a “hold” rating in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft raised U.S. Bancorp from a “hold” rating to a “buy” rating and set a $52.50 price target for the company in a research report on Thursday, October 23rd. One equities research 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 issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.95.

U.S. Bancorp Company Profile

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.