Infrastructure Capital Advisors LLC Purchases 13,372 Shares of U.S. Bancorp (NYSE:USB)

Posted by on Sep 9th, 2023

Infrastructure Capital Advisors LLC grew its position in U.S. Bancorp (NYSE:USB – Free Report) by 57.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 36,825 shares of the financial services provider’s stock after purchasing an additional 13,372 shares during the period. Infrastructure Capital Advisors LLC’s holdings in U.S. Bancorp were worth $1,328,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Viawealth LLC lifted its holdings in shares of U.S. Bancorp by 16.5% in the first quarter. Viawealth LLC now owns 17,014 shares of the financial services provider’s stock valued at $613,000 after purchasing an additional 2,414 shares in the last quarter. rhino investment partners Inc bought a new stake in U.S. Bancorp during the first quarter worth about $29,049,000. Prospera Financial Services Inc raised its holdings in U.S. Bancorp by 89.9% during the first quarter. Prospera Financial Services Inc now owns 107,309 shares of the financial services provider’s stock worth $3,869,000 after acquiring an additional 50,812 shares in the last quarter. All Terrain Financial Advisors LLC raised its holdings in U.S. Bancorp by 2.1% during the first quarter. All Terrain Financial Advisors LLC now owns 73,431 shares of the financial services provider’s stock worth $2,647,000 after acquiring an additional 1,488 shares in the last quarter. Finally, 1832 Asset Management L.P. raised its holdings in U.S. Bancorp by 1.2% during the first quarter. 1832 Asset Management L.P. now owns 552,603 shares of the financial services provider’s stock worth $19,921,000 after acquiring an additional 6,614 shares in the last quarter. 75.40% of the stock is currently owned by institutional investors.

U.S. Bancorp Price Performance

U.S. Bancorp stock opened at $36.12 on Friday. U.S. Bancorp has a 12 month low of $27.27 and a 12 month high of $49.95. The stock’s 50 day moving average is $37.03 and its 200-day moving average is $35.67. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $55.36 billion, a price-to-earnings ratio of 10.00, a PEG ratio of 1.63 and a beta of 0.98.

U.S. Bancorp (NYSE:USB – Get Free Report) last issued its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.01). The company had revenue of $7.17 billion for the quarter, compared to analyst estimates of $7.17 billion. U.S. Bancorp had a return on equity of 16.53% and a net margin of 16.59%. The company’s quarterly revenue was up 19.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.09 EPS. Equities research analysts expect that U.S. Bancorp will post 4.44 EPS for the current year.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Friday, June 30th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 5.32%. The ex-dividend date was Thursday, June 29th. U.S. Bancorp’s dividend payout ratio is currently 53.19%.

Insider Buying and Selling

In related news, CFO Terrance R. Dolan sold 26,000 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $39.75, for a total transaction of $1,033,500.00. Following the sale, the chief financial officer now owns 166,992 shares of the company’s stock, valued at $6,637,932. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other U.S. Bancorp news, CFO Terrance R. Dolan sold 26,000 shares of the company’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $39.75, for a total transaction of $1,033,500.00. Following the completion of the sale, the chief financial officer now directly owns 166,992 shares in the company, valued at $6,637,932. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Timothy A. Welsh sold 13,816 shares of the company’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $39.79, for a total value of $549,738.64. Following the sale, the insider now owns 119,058 shares of the company’s stock, valued at $4,737,317.82. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on USB. Barclays dropped their target price on U.S. Bancorp from $52.00 to $48.00 in a report on Tuesday, June 27th. Morgan Stanley reiterated an “equal weight” rating and set a $45.00 target price on shares of U.S. Bancorp in a report on Friday, August 4th. StockNews.com began coverage on U.S. Bancorp in a report on Thursday, August 17th. They set a “sell” rating on the stock. Raymond James upgraded U.S. Bancorp from an “underperform” rating to a “market perform” rating in a report on Thursday, July 20th. Finally, Wedbush boosted their price target on U.S. Bancorp from $35.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday, July 20th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, U.S. Bancorp presently has a consensus rating of “Hold” and a consensus price target of $47.33.

Check Out Our Latest Report on USB

About U.S. Bancorp

(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 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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Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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