Commonwealth Equity Services LLC Grows Position in U.S. Bancorp (NYSE:USB)

Commonwealth Equity Services LLC boosted its stake in U.S. Bancorp (NYSE:USB) by 17.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 709,581 shares of the financial services provider’s stock after buying an additional 103,025 shares during the quarter. Commonwealth Equity Services LLC’s holdings in U.S. Bancorp were worth $23,445,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of USB. Bank Julius Baer & Co. Ltd Zurich raised its position in U.S. Bancorp by 97,087.5% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 683,204,992 shares of the financial services provider’s stock valued at $22,573,093,000 after buying an additional 682,502,016 shares during the last quarter. Moneta Group Investment Advisors LLC grew its stake in U.S. Bancorp by 130,768.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 60,273,882 shares of the financial services provider’s stock valued at $2,628,544,000 after purchasing an additional 60,227,825 shares during the period. FMR LLC grew its stake in U.S. Bancorp by 61.3% in the 1st quarter. FMR LLC now owns 39,195,702 shares of the financial services provider’s stock valued at $1,413,005,000 after purchasing an additional 14,892,212 shares during the period. Norges Bank bought a new position in U.S. Bancorp in the 4th quarter valued at $644,436,000. Finally, Price T Rowe Associates Inc. MD grew its stake in U.S. Bancorp by 43.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 46,837,595 shares of the financial services provider’s stock valued at $1,688,496,000 after purchasing an additional 14,080,781 shares during the period. 75.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on USB. Piper Sandler reduced their price objective on U.S. Bancorp from $41.00 to $40.00 and set a “neutral” rating for the company in a research note on Friday, September 15th. Jefferies Financial Group cut their price target on U.S. Bancorp from $36.00 to $31.00 in a research note on Tuesday, October 10th. Oppenheimer increased their price target on U.S. Bancorp from $60.00 to $63.00 and gave the stock an “outperform” rating in a research note on Thursday, November 16th. Bank of America cut their price target on U.S. Bancorp from $45.00 to $40.00 in a research note on Tuesday, October 10th. Finally, Stephens reiterated an “overweight” rating and set a $47.00 price target on shares of U.S. Bancorp in a research note on Monday, July 24th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $45.90.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, insider James B. Kelligrew acquired 500 shares of the business’s stock in a transaction dated Sunday, August 27th. The shares were purchased at an average cost of $54.40 per share, for a total transaction of $27,200.00. Following the transaction, the insider now owns 940 shares in the company, valued at $51,136. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In the last three months, insiders have acquired 654 shares of company stock worth $30,148. 0.24% of the stock is currently owned by insiders.

U.S. Bancorp Stock Performance

Shares of NYSE USB opened at $37.64 on Tuesday. The stock has a market cap of $58.61 billion, a price-to-earnings ratio of 11.20, a P/E/G ratio of 1.72 and a beta of 1.02. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.92. U.S. Bancorp has a 1-year low of $27.27 and a 1-year high of $49.95. The stock’s 50-day moving average is $33.53 and its 200 day moving average is $34.18.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.09. The business had revenue of $7.03 billion for the quarter, compared to analysts’ expectations of $7.02 billion. U.S. Bancorp had a return on equity of 15.80% and a net margin of 14.39%. The business’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.18 EPS. On average, sell-side analysts anticipate that U.S. Bancorp will post 4.32 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Friday, September 29th were paid a $0.48 dividend. The ex-dividend date was Thursday, September 28th. This represents a $1.92 dividend on an annualized basis and a yield of 5.10%. U.S. Bancorp’s dividend payout ratio (DPR) is currently 57.14%.

U.S. Bancorp Company Profile

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities and other financial institutions in the United States. It operates in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments.