U.S. Bancorp $USB Stake Boosted by NewEdge Wealth LLC

NewEdge Wealth LLC raised its position in shares of U.S. Bancorp (NYSE:USB) by 84.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,591 shares of the financial services provider’s stock after buying an additional 10,817 shares during the quarter. NewEdge Wealth LLC’s holdings in U.S. Bancorp were worth $1,103,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on USB. Weiss Ratings reiterated a “buy (b-)” rating on shares of U.S. Bancorp in a research note on Wednesday, January 21st. Keefe, Bruyette & Woods boosted their target price on U.S. Bancorp from $58.00 to $59.00 and gave the company a “market perform” rating in a research note on Wednesday, January 21st. Royal Bank Of Canada raised their price target on U.S. Bancorp from $57.00 to $59.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 21st. Barclays lifted their price target on U.S. Bancorp from $56.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, January 5th. Finally, 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. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, U.S. Bancorp presently has an average rating of “Moderate Buy” and an average price target of $59.79.

U.S. Bancorp Stock Up 1.3%

USB opened at $58.63 on Monday. The firm has a market cap of $91.13 billion, a P/E ratio of 12.69, a price-to-earnings-growth ratio of 1.05 and a beta of 1.06. 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 business has a 50 day moving average price of $55.98 and a 200 day moving average price of $50.86. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $61.19.

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

U.S. Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date was Wednesday, December 31st. U.S. Bancorp’s dividend payout ratio is 45.02%.

Insider Transactions at U.S. Bancorp

In other news, insider Mark G. Runkel sold 32,195 shares of U.S. Bancorp stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $60.65, for a total value of $1,952,626.75. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.23% of the stock is owned by company insiders.

U.S. Bancorp 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.