Assetmark Inc. Purchases 141,715 Shares of U.S. Bancorp $USB

Assetmark Inc. grew its position in shares of U.S. Bancorp (NYSE:USB) by 65.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 357,384 shares of the financial services provider’s stock after buying an additional 141,715 shares during the period. Assetmark Inc.’s holdings in U.S. Bancorp were worth $18,588,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Paulson Wealth Management Inc. increased its stake in U.S. Bancorp by 2.0% in the fourth quarter. Paulson Wealth Management Inc. now owns 8,780 shares of the financial services provider’s stock valued at $469,000 after acquiring an additional 173 shares during the last quarter. Flputnam Investment Management Co. lifted its stake in U.S. Bancorp by 1.4% during the fourth quarter. Flputnam Investment Management Co. now owns 13,721 shares of the financial services provider’s stock worth $732,000 after purchasing an additional 186 shares during the last quarter. Formidable Asset Management LLC lifted its stake in U.S. Bancorp by 0.8% during the first quarter. Formidable Asset Management LLC now owns 23,373 shares of the financial services provider’s stock worth $1,247,000 after purchasing an additional 186 shares during the last quarter. Genesis Private Wealth LLC boosted its holdings in shares of U.S. Bancorp by 2.3% in the 4th quarter. Genesis Private Wealth LLC now owns 8,348 shares of the financial services provider’s stock valued at $445,000 after purchasing an additional 187 shares in the last quarter. Finally, Balboa Wealth Partners increased its stake in shares of U.S. Bancorp by 4.0% in the 1st quarter. Balboa Wealth Partners now owns 4,920 shares of the financial services provider’s stock valued at $256,000 after purchasing an additional 188 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on USB. UBS Group boosted their price target on U.S. Bancorp from $58.00 to $66.00 and gave the stock a “neutral” rating in a report on Tuesday, July 7th. Weiss Ratings upgraded U.S. Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 4th. Truist Financial boosted their target price on U.S. Bancorp from $66.00 to $69.00 and gave the stock a “buy” rating in a research note on Friday. Raymond James Financial assumed coverage on shares of U.S. Bancorp in a report on Wednesday, July 8th. They issued a “strong-buy” rating and a $72.00 target price for the company. Finally, Barclays raised their price target on shares of U.S. Bancorp from $67.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $66.52.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, EVP Venkatachari Dilip sold 34,522 shares of U.S. Bancorp stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the transaction, the executive vice president directly owned 51,292 shares of the company’s stock, valued at approximately $2,847,731.84. The trade was a 40.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jodi L. Richard sold 40,000 shares of the company’s stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total value of $2,280,000.00. Following the completion of the sale, the insider owned 207,251 shares in the company, valued at $11,813,307. This trade represents a 16.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is currently owned by company insiders.

U.S. Bancorp Price Performance

Shares of USB opened at $63.14 on Monday. U.S. Bancorp has a 12-month low of $43.46 and a 12-month high of $64.84. The business has a 50-day simple moving average of $57.89 and a two-hundred day simple moving average of $56.09. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.96. The stock has a market cap of $97.93 billion, a PE ratio of 12.60, a PEG ratio of 1.07 and a beta of 0.96.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.07. U.S. Bancorp had a return on equity of 13.69% and a net margin of 18.49%.The firm had revenue of $7.71 billion for the quarter, compared to analyst estimates of $7.58 billion. During the same period last year, the firm posted $1.11 earnings per share. Analysts anticipate that U.S. Bancorp will post 5.18 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.08 annualized dividend and a dividend yield of 3.3%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 41.52%.

Key Headlines Impacting U.S. Bancorp

Here are the key news stories impacting U.S. Bancorp this week:

• Positive Sentiment: U.S. Bancorp posted Q2 earnings of $1.35 per share on revenue of $7.71 billion, both above estimates, with record quarterly revenue driven by loan growth, fee income, and a boost from its BTIG acquisition. U.S. Bancorp Q2 Earnings Beat Estimates on NII & Fee Revenue Growth
• Positive Sentiment: Management raised full-year revenue guidance to a 7% to 9% growth range, signaling confidence that momentum from higher net interest income and fee revenue will continue. Is USB’s Stronger Outlook And BTIG Fee Push Altering The Investment Case For U.S. Bancorp (USB)?
• Positive Sentiment: Several firms lifted price targets after the earnings release, including Oppenheimer, Wells Fargo, Truist, RBC, and Baird, reflecting improved sentiment around USB’s outlook. US Bancorp analysts boost their forecasts after upbeat Q2 results

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.