Wedbush Securities Inc. Raises Position in U.S. Bancorp $USB

Wedbush Securities Inc. lifted its stake in U.S. Bancorp (NYSE:USB) by 21.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 67,247 shares of the financial services provider’s stock after purchasing an additional 12,021 shares during the quarter. Wedbush Securities Inc.’s holdings in U.S. Bancorp were worth $3,250,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC increased its position in U.S. Bancorp by 323.0% during the fourth quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider’s stock valued at $2,309,000 after acquiring an additional 36,863 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of U.S. Bancorp by 2.1% in the 1st quarter. Empowered Funds LLC now owns 34,411 shares of the financial services provider’s stock worth $1,453,000 after acquiring an additional 714 shares during the last quarter. Intech Investment Management LLC boosted its stake in shares of U.S. Bancorp by 18.9% during the 1st quarter. Intech Investment Management LLC now owns 39,276 shares of the financial services provider’s stock worth $1,658,000 after purchasing an additional 6,252 shares during the period. Sivia Capital Partners LLC bought a new position in U.S. Bancorp during the 2nd quarter valued at about $425,000. Finally, Vest Financial LLC raised its position in U.S. Bancorp by 39.2% in the 2nd quarter. Vest Financial LLC now owns 17,785 shares of the financial services provider’s stock worth $805,000 after purchasing an additional 5,013 shares during the period. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Trading Down 1.9%

NYSE USB opened at $57.82 on Friday. U.S. Bancorp has a one year low of $35.18 and a one year high of $61.19. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market capitalization of $89.87 billion, a price-to-earnings ratio of 12.51, a price-to-earnings-growth ratio of 1.06 and a beta of 1.06. The company’s 50-day simple moving average is $55.30 and its two-hundred day simple moving average is $50.23.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Tuesday, January 20th. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.07. U.S. Bancorp had a return on equity of 13.48% and a net margin of 17.66%.The business had revenue of $7.92 billion for the quarter, compared to analysts’ expectations of $7.31 billion. During the same quarter last year, the firm earned $1.07 EPS. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. Equities analysts forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were issued a $0.52 dividend. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.6%. U.S. Bancorp’s dividend payout ratio (DPR) is currently 45.02%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on USB shares. JPMorgan Chase & Co. boosted their target price on U.S. Bancorp from $55.50 to $62.00 and gave the company an “underweight” rating in a research report on Monday. Keefe, Bruyette & Woods upped their price objective on U.S. Bancorp from $58.00 to $59.00 and gave the company a “market perform” rating in a research report on Wednesday, January 21st. Wolfe Research lowered U.S. Bancorp from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 7th. Barclays boosted their target price on shares of U.S. Bancorp from $56.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, January 5th. Finally, Truist Financial raised their price target on shares of U.S. Bancorp from $58.00 to $61.00 and gave the stock a “hold” rating in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, U.S. Bancorp has a consensus rating of “Moderate Buy” and an average price target of $59.79.

Insider Activity at U.S. Bancorp

In other news, insider Mark G. Runkel sold 32,195 shares of U.S. Bancorp stock in a transaction on Friday, February 6th. The shares were sold at an average price of $60.65, for a total transaction of $1,952,626.75. Following the completion of the sale, the insider directly owned 97,728 shares in the company, valued at approximately $5,927,203.20. The trade was a 24.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.23% of the company’s stock.

U.S. Bancorp Company Profile

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.