Advisors Capital Management LLC Buys Shares of 32,498 U.S. Bancorp $USB

Advisors Capital Management LLC purchased a new position in U.S. Bancorp (NYSE:USB) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 32,498 shares of the financial services provider’s stock, valued at approximately $1,571,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Guerra Advisors Inc bought a new stake in U.S. Bancorp in the third quarter worth $25,000. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of U.S. Bancorp in the third quarter worth about $26,000. Hillsdale Investment Management Inc. bought a new stake in shares of U.S. Bancorp in the 2nd quarter valued at about $27,000. Steigerwald Gordon & Koch Inc. purchased a new stake in U.S. Bancorp during the 3rd quarter valued at about $31,000. Finally, Pineridge Advisors LLC grew its position in U.S. Bancorp by 446.2% during the 2nd quarter. Pineridge Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 522 shares during the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on USB shares. UBS Group reissued a “neutral” rating and set a $60.00 price target on shares of U.S. Bancorp in a research report on Wednesday, February 4th. Truist Financial boosted their price target on U.S. Bancorp from $58.00 to $61.00 and gave the company a “hold” rating in a report on Wednesday, January 21st. TD Cowen increased their price objective on U.S. Bancorp from $65.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and set a $52.50 price objective on the stock in a research report on Thursday, October 23rd. Finally, JPMorgan Chase & Co. upped their target price on U.S. Bancorp from $55.50 to $62.00 and gave the company an “underweight” rating in a report on Monday, February 9th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, U.S. Bancorp has a consensus rating of “Moderate Buy” and an average target price of $59.79.

U.S. Bancorp Price Performance

USB opened at $57.88 on Friday. The company’s 50-day simple moving average is $55.87 and its two-hundred day simple moving average is $50.67. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market capitalization of $89.97 billion, a P/E ratio of 12.53, a P/E/G ratio of 1.05 and a beta of 1.06. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $61.19.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $1.26 EPS for the quarter, topping the consensus estimate of $1.19 by $0.07. U.S. Bancorp had a return on equity of 13.48% and a net margin of 17.66%.The company had revenue of $7.92 billion during the quarter, compared to analyst estimates of $7.31 billion. During the same quarter in the previous year, the company posted $1.07 earnings per share. U.S. Bancorp’s revenue was up 5.1% compared to the same quarter last year. As a group, analysts predict that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 3.6%. The ex-dividend date was Wednesday, December 31st. U.S. Bancorp’s dividend payout ratio is presently 45.02%.

Insider Activity

In other U.S. Bancorp news, insider Mark G. Runkel sold 32,195 shares of U.S. Bancorp stock in a transaction on Friday, February 6th. The shares were sold at an average price of $60.65, for a total value of $1,952,626.75. Following the sale, the insider directly owned 97,728 shares in the company, valued at approximately $5,927,203.20. The trade was a 24.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.23% of the stock is currently owned by insiders.

About U.S. Bancorp

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.