Parcion Private Wealth LLC Acquires 793 Shares of U.S. Bancorp (NYSE:USB)

Parcion Private Wealth LLC lifted its holdings in shares of U.S. Bancorp (NYSE:USB) by 1.5% in the first quarter, according to its most recent filing with the SEC. The firm owned 53,757 shares of the financial services provider’s stock after acquiring an additional 793 shares during the period. Parcion Private Wealth LLC’s holdings in U.S. Bancorp were worth $2,270,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Victory Capital Management Inc. lifted its holdings in shares of U.S. Bancorp by 2.1% during the 1st quarter. Victory Capital Management Inc. now owns 730,630 shares of the financial services provider’s stock worth $30,847,000 after acquiring an additional 15,374 shares during the period. Kornitzer Capital Management Inc. KS lifted its holdings in shares of U.S. Bancorp by 0.6% during the 1st quarter. Kornitzer Capital Management Inc. KS now owns 56,899 shares of the financial services provider’s stock worth $2,402,000 after acquiring an additional 314 shares during the period. Larson Financial Group LLC lifted its holdings in shares of U.S. Bancorp by 63.8% during the 1st quarter. Larson Financial Group LLC now owns 25,603 shares of the financial services provider’s stock worth $1,081,000 after acquiring an additional 9,974 shares during the period. Wealthfront Advisers LLC lifted its holdings in shares of U.S. Bancorp by 25.8% during the 1st quarter. Wealthfront Advisers LLC now owns 312,513 shares of the financial services provider’s stock worth $13,194,000 after acquiring an additional 64,134 shares during the period. Finally, United Community Bank lifted its holdings in U.S. Bancorp by 21.8% during the 1st quarter. United Community Bank now owns 49,066 shares of the financial services provider’s stock valued at $2,072,000 after purchasing an additional 8,796 shares during the last quarter. 77.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

USB has been the subject of several analyst reports. TD Cowen initiated coverage on shares of U.S. Bancorp in a report on Thursday, May 15th. They set a “buy” rating and a $60.00 price target for the company. Oppenheimer lifted their price target 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. Royal Bank Of Canada cut their price target on shares of U.S. Bancorp from $57.00 to $50.00 and set an “outperform” rating for the company in a report on Thursday, April 17th. Wolfe Research raised shares of U.S. Bancorp from a “peer perform” rating to an “outperform” rating and set a $49.00 price target for the company in a report on Thursday, April 3rd. Finally, Citigroup lifted their price target on shares of U.S. Bancorp from $55.00 to $59.00 and gave the company a “buy” rating in a report on Wednesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $51.70.

Insider Transactions at U.S. Bancorp

In related news, Director Aleem Gillani purchased 5,000 shares of U.S. Bancorp stock in a transaction dated Monday, April 21st. The stock was bought at an average price of $37.32 per share, for a total transaction of $186,600.00. Following the completion of the acquisition, the director directly owned 15,000 shares of the company’s stock, valued at $559,800. This represents a 50.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Price Performance

U.S. Bancorp stock opened at $45.67 on Wednesday. The firm has a market capitalization of $71.15 billion, a P/E ratio of 11.30, a PEG ratio of 1.81 and a beta of 0.99. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $53.98. The business has a 50-day moving average of $44.59 and a 200-day moving average of $44.32. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.06. The firm had revenue of $6.96 billion during the quarter, compared to analysts’ expectations of $6.92 billion. U.S. Bancorp had a net margin of 15.70% and a return on equity of 13.02%. During the same quarter in the previous year, the company earned $0.78 earnings per share. On average, equities analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.38%. The ex-dividend date was Monday, June 30th. U.S. Bancorp’s dividend payout ratio is currently 49.50%.

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.