Venture Visionary Partners LLC raised its position in shares of U.S. Bancorp (NYSE:USB – Get Rating) by 9.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,419 shares of the financial services provider’s stock after buying an additional 800 shares during the quarter. Venture Visionary Partners LLC’s holdings in U.S. Bancorp were worth $340,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Citigroup Inc. lifted its stake in U.S. Bancorp by 2.6% during the fourth quarter. Citigroup Inc. now owns 859,332 shares of the financial services provider’s stock valued at $37,475,000 after buying an additional 21,560 shares in the last quarter. Mather Group LLC. lifted its stake in U.S. Bancorp by 20.3% during the third quarter. Mather Group LLC. now owns 26,579 shares of the financial services provider’s stock valued at $1,072,000 after buying an additional 4,487 shares in the last quarter. Advisor Group Holdings Inc. lifted its position in shares of U.S. Bancorp by 11.7% in the fourth quarter. Advisor Group Holdings Inc. now owns 836,343 shares of the financial services provider’s stock worth $36,489,000 after purchasing an additional 87,888 shares in the last quarter. DAVENPORT & Co LLC lifted its position in shares of U.S. Bancorp by 9.4% in the fourth quarter. DAVENPORT & Co LLC now owns 145,471 shares of the financial services provider’s stock worth $6,344,000 after purchasing an additional 12,524 shares in the last quarter. Finally, Mutual Advisors LLC lifted its position in shares of U.S. Bancorp by 146.1% in the fourth quarter. Mutual Advisors LLC now owns 61,885 shares of the financial services provider’s stock worth $2,699,000 after purchasing an additional 36,735 shares in the last quarter. 74.61% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at U.S. Bancorp
In related news, Director Alan B. Colberg acquired 10,000 shares of the stock in a transaction dated Friday, April 21st. The shares were acquired at an average price of $34.14 per share, for a total transaction of $341,400.00. Following the completion of the purchase, the director now owns 10,050 shares in the company, valued at approximately $343,107. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other U.S. Bancorp news, Director Alan B. Colberg purchased 10,000 shares of the firm’s stock in a transaction on Friday, April 21st. The shares were purchased at an average price of $34.14 per share, for a total transaction of $341,400.00. Following the completion of the purchase, the director now directly owns 10,050 shares of the company’s stock, valued at $343,107. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider James B. Kelligrew purchased 16,260 shares of the firm’s stock in a transaction on Monday, May 8th. The shares were acquired at an average price of $30.59 per share, for a total transaction of $497,393.40. Following the purchase, the insider now directly owns 151,927 shares of the company’s stock, valued at $4,647,446.93. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 76,698 shares of company stock worth $2,446,082. Insiders own 0.24% of the company’s stock.
U.S. Bancorp Trading Down 1.1 %
U.S. Bancorp (NYSE:USB – Get Rating) last announced its quarterly earnings results on Wednesday, April 19th. The financial services provider reported $1.04 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.09). The company had revenue of $7.18 billion for the quarter, compared to analyst estimates of $7.14 billion. U.S. Bancorp had a net margin of 19.21% and a return on equity of 16.70%. The company’s revenue for the quarter was up 28.2% on a year-over-year basis. During the same quarter last year, the business earned $0.99 EPS. Equities analysts predict that U.S. Bancorp will post 4.59 EPS for the current year.
U.S. Bancorp Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 17th. Stockholders of record on Friday, June 30th will be paid a $0.48 dividend. The ex-dividend date of this dividend is Thursday, June 29th. This represents a $1.92 annualized dividend and a dividend yield of 6.02%. U.S. Bancorp’s payout ratio is 51.06%.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on the stock. TheStreet lowered shares of U.S. Bancorp from a “b-” rating to a “c+” rating in a research report on Tuesday, May 2nd. Piper Sandler reduced their price target on shares of U.S. Bancorp from $57.00 to $53.00 in a research report on Friday, March 10th. Morgan Stanley reduced their price target on shares of U.S. Bancorp from $46.00 to $43.00 and set an “equal weight” rating for the company in a research report on Thursday, April 20th. Wells Fargo & Company reduced their price target on shares of U.S. Bancorp from $60.00 to $55.00 and set an “overweight” rating for the company in a research report on Monday, April 3rd. Finally, Royal Bank of Canada cut their price objective on shares of U.S. Bancorp from $55.00 to $49.00 and set an “outperform” rating on the stock in a research report on Friday, March 24th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $49.84.
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 in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments.
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