U.S. Bancorp $USB Shares Purchased by Wealthedge Investment Advisors LLC

by · The Cerbat Gem

Wealthedge Investment Advisors LLC boosted its holdings in shares of U.S. Bancorp (NYSE:USB – Free Report) by 35.2% in the 2nd quarter, Holdings Channel reports. The fund owned 7,333 shares of the financial services provider’s stock after acquiring an additional 1,909 shares during the quarter. Wealthedge Investment Advisors LLC’s holdings in U.S. Bancorp were worth $332,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Andra AP fonden raised its holdings in U.S. Bancorp by 175.6% during the second quarter. Andra AP fonden now owns 458,400 shares of the financial services provider’s stock worth $20,743,000 after purchasing an additional 292,100 shares in the last quarter. Ally Financial Inc. boosted its holdings in shares of U.S. Bancorp by 12.3% in the 1st quarter. Ally Financial Inc. now owns 91,000 shares of the financial services provider’s stock valued at $3,842,000 after buying an additional 10,000 shares in the last quarter. Jump Financial LLC grew its position in shares of U.S. Bancorp by 1,952.5% in the 1st quarter. Jump Financial LLC now owns 840,308 shares of the financial services provider’s stock valued at $35,478,000 after buying an additional 799,368 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc acquired a new stake in U.S. Bancorp during the 1st quarter worth $428,000. Finally, Orion Capital Management LLC acquired a new stake in U.S. Bancorp during the 1st quarter worth $616,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Stock Up 0.1%

U.S. Bancorp stock opened at $49.00 on Monday. The stock has a 50 day moving average of $47.48 and a two-hundred day moving average of $46.52. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $53.75. The stock has a market capitalization of $76.17 billion, a price-to-earnings ratio of 11.21, a PEG ratio of 1.25 and a beta of 1.10. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.10.

U.S. Bancorp (NYSE:USB – Get Free Report) last released its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.22 EPS for the quarter, topping the consensus estimate of $1.11 by $0.11. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.The business had revenue of $7.34 billion during the quarter, compared to analysts’ expectations of $7.17 billion. During the same quarter in the prior year, the business earned $1.03 earnings per share. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. As a group, research analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were issued a $0.52 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a dividend yield of 4.2%. U.S. Bancorp’s payout ratio is presently 47.60%.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, EVP James L. Chosy sold 26,909 shares of U.S. Bancorp stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $46.86, for a total value of $1,260,955.74. Following the sale, the executive vice president owned 226,375 shares of the company’s stock, valued at approximately $10,607,932.50. The trade was a 10.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Andrew Cecere sold 140,445 shares of the business’s stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $46.34, for a total value of $6,508,221.30. Following the transaction, the chairman owned 1,360,414 shares in the company, valued at $63,041,584.76. The trade was a 9.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. TD Cowen raised their price objective on U.S. Bancorp from $59.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, October 20th. DA Davidson upped their target price on U.S. Bancorp from $57.00 to $59.00 and gave the company a “buy” rating in a research report on Friday, October 17th. Truist Financial lifted their price target on U.S. Bancorp from $51.00 to $52.00 and gave the stock a “hold” rating in a research report on Friday, October 17th. Cowen reiterated a “buy” rating on shares of U.S. Bancorp in a research note on Monday, October 20th. Finally, UBS Group raised their target price on shares of U.S. Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $54.45.

Read Our Latest Stock Analysis on U.S. Bancorp

U.S. Bancorp Company Profile

(Free Report)

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.

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