Avantax Planning Partners Inc. Lowers Holdings in U.S. Bancorp (NYSE:USB)

Avantax Planning Partners Inc. lowered its holdings in U.S. Bancorp (NYSE:USB) by 19.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 82,004 shares of the financial services provider’s stock after selling 19,522 shares during the quarter. Avantax Planning Partners Inc.’s holdings in U.S. Bancorp were worth $3,462,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. raised its holdings in U.S. Bancorp by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 138,836,896 shares of the financial services provider’s stock valued at $6,640,569,000 after buying an additional 1,079,056 shares during the period. FMR LLC lifted its holdings in shares of U.S. Bancorp by 5.0% in the 4th quarter. FMR LLC now owns 67,125,746 shares of the financial services provider’s stock worth $3,210,624,000 after acquiring an additional 3,211,815 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of U.S. Bancorp by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 33,937,360 shares of the financial services provider’s stock worth $1,618,948,000 after purchasing an additional 850,763 shares during the period. Amundi increased its holdings in U.S. Bancorp by 7.4% in the 4th quarter. Amundi now owns 19,485,615 shares of the financial services provider’s stock valued at $945,268,000 after purchasing an additional 1,341,407 shares during the last quarter. Finally, Northern Trust Corp raised its position in U.S. Bancorp by 10.9% in the fourth quarter. Northern Trust Corp now owns 17,050,568 shares of the financial services provider’s stock valued at $815,529,000 after purchasing an additional 1,670,305 shares during the period. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Stock Up 0.5%

U.S. Bancorp stock opened at $47.73 on Friday. The company has a market capitalization of $74.36 billion, a P/E ratio of 11.81, a PEG ratio of 1.79 and a beta of 0.99. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.80. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two week high of $53.98. The stock has a 50-day simple moving average of $43.54 and a 200-day simple moving average of $44.42.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.06. The company had revenue of $6.96 billion during the quarter, compared to analysts’ expectations of $6.92 billion. U.S. Bancorp had a return on equity of 13.02% and a net margin of 15.70%. During the same quarter in the previous year, the business earned $0.78 earnings per share. Equities research analysts expect 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. Investors of record on Monday, June 30th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date of this dividend is Monday, June 30th. U.S. Bancorp’s dividend payout ratio is currently 49.50%.

Analysts Set New Price Targets

USB has been the subject of several research analyst reports. Royal Bank Of Canada lowered their price target on U.S. Bancorp from $57.00 to $50.00 and set an “outperform” rating for the company in a research report on Thursday, April 17th. Cowen assumed coverage on U.S. Bancorp in a research report on Wednesday, May 14th. They issued a “buy” rating for the company. Piper Sandler reduced their price target on shares of U.S. Bancorp from $49.00 to $48.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. Oppenheimer lifted their price objective on shares of U.S. Bancorp from $57.00 to $59.00 and gave the company an “outperform” rating in a report on Monday, April 28th. Finally, Truist Financial reduced their target price on shares of U.S. Bancorp from $51.00 to $48.00 and set a “hold” rating on the stock in a report on Thursday, April 17th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.34.

Insider Buying and Selling

In related news, Director Aleem Gillani bought 5,000 shares of the stock in a transaction on Monday, April 21st. The shares were bought at an average cost of $37.32 per share, for a total transaction of $186,600.00. Following the purchase, the director owned 15,000 shares of the company’s stock, valued at $559,800. This trade represents a 50.00% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.23% of the company’s stock.

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