Kanawha Capital Management LLC Buys 1,302 Shares of U.S. Bancorp (NYSE:USB)

Kanawha Capital Management LLC lifted its holdings in U.S. Bancorp (NYSE:USB) by 0.6% in the first quarter, HoldingsChannel reports. The firm owned 223,846 shares of the financial services provider’s stock after purchasing an additional 1,302 shares during the quarter. Kanawha Capital Management LLC’s holdings in U.S. Bancorp were worth $9,451,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in USB. Covestor Ltd boosted its stake in U.S. Bancorp by 12.3% during the fourth quarter. Covestor Ltd now owns 1,955 shares of the financial services provider’s stock worth $94,000 after buying an additional 214 shares during the period. TrinityPoint Wealth LLC increased its position in U.S. Bancorp by 2.3% during the 4th quarter. TrinityPoint Wealth LLC now owns 10,355 shares of the financial services provider’s stock valued at $495,000 after purchasing an additional 231 shares during the period. CoreCap Advisors LLC increased its holdings in U.S. Bancorp by 36.6% during the fourth quarter. CoreCap Advisors LLC now owns 904 shares of the financial services provider’s stock valued at $43,000 after buying an additional 242 shares during the period. Aaron Wealth Advisors LLC raised its position in shares of U.S. Bancorp by 3.3% in the 1st quarter. Aaron Wealth Advisors LLC now owns 8,190 shares of the financial services provider’s stock worth $346,000 after acquiring an additional 262 shares in the last quarter. Finally, Gotham Asset Management LLC grew its position in U.S. Bancorp by 0.9% during the 4th quarter. Gotham Asset Management LLC now owns 32,696 shares of the financial services provider’s stock worth $1,564,000 after purchasing an additional 281 shares during the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Aleem Gillani acquired 5,000 shares of the stock in a transaction dated Monday, April 21st. The stock was acquired at an average cost of $37.32 per share, with a total value of $186,600.00. Following the completion of the transaction, the director owned 15,000 shares in the company, valued at $559,800. This represents a 50.00% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.23% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on USB. Royal Bank Of Canada dropped their price target on U.S. Bancorp from $57.00 to $50.00 and set an “outperform” rating on the stock in a research note on Thursday, April 17th. Raymond James Financial restated an “outperform” rating and set a $51.00 price target (down previously from $57.00) on shares of U.S. Bancorp in a research report on Thursday, April 17th. Wells Fargo & Company cut their price objective on U.S. Bancorp from $56.00 to $50.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. Truist Financial cut their target price on shares of U.S. Bancorp from $51.00 to $48.00 and set a “hold” rating for the company in a research note on Thursday, April 17th. Finally, Barclays reduced their price objective on U.S. Bancorp from $61.00 to $56.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, U.S. Bancorp presently has an average rating of “Moderate Buy” and an average target price of $50.72.

U.S. Bancorp Stock Up 2.7%

Shares of USB opened at $46.46 on Wednesday. The company’s 50-day moving average price is $43.23 and its 200 day moving average price is $44.43. U.S. Bancorp has a 12-month low of $35.18 and a 12-month high of $53.98. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. The firm has a market cap of $72.39 billion, a P/E ratio of 11.50, a price-to-earnings-growth ratio of 1.70 and a beta of 0.99.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.06. U.S. Bancorp had a return on equity of 13.02% and a net margin of 15.70%. The company had revenue of $6.96 billion for the quarter, compared to analysts’ expectations of $6.92 billion. During the same period in the prior year, the firm earned $0.78 earnings per share. On average, sell-side analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a $0.50 dividend. The ex-dividend date is Monday, June 30th. This represents a $2.00 annualized dividend and a dividend yield of 4.30%. U.S. Bancorp’s dividend payout ratio (DPR) is 49.50%.

U.S. Bancorp 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 through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.