U.S. Bancorp $USB Shares Purchased by Assetmark Inc.

Assetmark Inc. boosted its stake in U.S. Bancorp (NYSE:USB) by 25.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 196,866 shares of the financial services provider’s stock after purchasing an additional 39,828 shares during the period. Assetmark Inc.’s holdings in U.S. Bancorp were worth $9,515,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the company. Parcion Private Wealth LLC lifted its stake in U.S. Bancorp by 0.4% during the 3rd quarter. Parcion Private Wealth LLC now owns 53,412 shares of the financial services provider’s stock worth $2,581,000 after acquiring an additional 218 shares in the last quarter. Bogart Wealth LLC increased its stake in U.S. Bancorp by 4.4% during the third quarter. Bogart Wealth LLC now owns 5,507 shares of the financial services provider’s stock worth $266,000 after purchasing an additional 234 shares during the period. Hoxton Planning & Management LLC increased its stake in U.S. Bancorp by 3.4% during the third quarter. Hoxton Planning & Management LLC now owns 7,021 shares of the financial services provider’s stock worth $339,000 after purchasing an additional 234 shares during the period. Allen Mooney & Barnes Investment Advisors LLC lifted its position in shares of U.S. Bancorp by 0.5% during the third quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 43,289 shares of the financial services provider’s stock worth $2,092,000 after purchasing an additional 235 shares in the last quarter. Finally, Crestwood Advisors Group LLC boosted its stake in shares of U.S. Bancorp by 3.5% in the second quarter. Crestwood Advisors Group LLC now owns 7,021 shares of the financial services provider’s stock valued at $318,000 after purchasing an additional 237 shares during the period. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. DA Davidson upped their target price on shares of U.S. Bancorp from $63.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, January 21st. Truist Financial boosted their price target on shares of U.S. Bancorp from $58.00 to $61.00 and gave the stock a “hold” rating in a research note on Wednesday, January 21st. HSBC reaffirmed a “buy” rating and set a $62.00 price objective on shares of U.S. Bancorp in a research report on Wednesday, January 7th. JPMorgan Chase & Co. lifted 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. Finally, TD Cowen boosted their target price on U.S. Bancorp from $65.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.79.

U.S. Bancorp Trading Down 0.3%

NYSE:USB opened at $57.66 on Tuesday. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $61.19. The stock has a market cap of $89.63 billion, a P/E ratio of 12.48, a P/E/G ratio of 1.03 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 stock has a 50-day simple moving average of $55.55 and a 200-day simple moving average of $50.46.

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

U.S. Bancorp Announces Dividend

The business also recently disclosed 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 currently 45.02%.

Insider Activity

In other U.S. Bancorp news, insider Mark G. Runkel sold 32,195 shares of the firm’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $60.65, for a total transaction of $1,952,626.75. Following the transaction, the insider owned 97,728 shares of the company’s stock, valued at approximately $5,927,203.20. This trade represents a 24.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.23% of the company’s stock.

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.