Arete Wealth Advisors LLC purchased a new position in shares of U.S. Bancorp (NYSE:USB – Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 21,450 shares of the financial services provider’s stock, valued at approximately $773,000.
Several other hedge funds have also added to or reduced their stakes in the company. Trivant Custom Portfolio Group LLC acquired a new position in U.S. Bancorp in the 1st quarter valued at $1,242,000. Manitou Investment Management Ltd. acquired a new position in U.S. Bancorp in the 1st quarter valued at $83,000. Harvest Portfolios Group Inc. raised its holdings in U.S. Bancorp by 17.3% in the 1st quarter. Harvest Portfolios Group Inc. now owns 112,452 shares of the financial services provider’s stock valued at $4,054,000 after acquiring an additional 16,578 shares in the last quarter. Advisory Services Network LLC raised its holdings in U.S. Bancorp by 24.2% in the 1st quarter. Advisory Services Network LLC now owns 67,448 shares of the financial services provider’s stock valued at $2,432,000 after acquiring an additional 13,124 shares in the last quarter. Finally, Rockefeller Capital Management L.P. raised its holdings in U.S. Bancorp by 10.2% in the 1st quarter. Rockefeller Capital Management L.P. now owns 254,232 shares of the financial services provider’s stock valued at $9,164,000 after acquiring an additional 23,506 shares in the last quarter. 75.40% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In other news, CFO Terrance R. Dolan sold 26,000 shares of the business’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $39.75, for a total value of $1,033,500.00. Following the transaction, the chief financial officer now directly owns 166,992 shares of the company’s stock, valued at approximately $6,637,932. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Terrance R. Dolan sold 26,000 shares of the business’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $39.75, for a total value of $1,033,500.00. Following the transaction, the chief financial officer now directly owns 166,992 shares of the company’s stock, valued at approximately $6,637,932. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Timothy A. Welsh sold 13,816 shares of the business’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $39.79, for a total value of $549,738.64. Following the completion of the transaction, the insider now directly owns 119,058 shares in the company, valued at $4,737,317.82. The disclosure for this sale can be found here. 0.24% of the stock is owned by company insiders.
U.S. Bancorp Trading Down 1.6 %
U.S. Bancorp (NYSE:USB – Get Free Report) last released its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $1.12 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.01). U.S. Bancorp had a net margin of 16.59% and a return on equity of 16.53%. The company had revenue of $7.17 billion during the quarter, compared to the consensus estimate of $7.17 billion. During the same quarter last year, the firm posted $1.09 EPS. The company’s quarterly revenue was up 19.7% on a year-over-year basis. On average, analysts expect that U.S. Bancorp will post 4.44 EPS for the current year.
U.S. Bancorp Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 5.46%. The ex-dividend date of this dividend is Thursday, September 28th. U.S. Bancorp’s dividend payout ratio is 53.19%.
Analyst Upgrades and Downgrades
USB has been the subject of several analyst reports. Bank of America raised U.S. Bancorp from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $38.00 to $40.00 in a report on Tuesday, July 11th. Piper Sandler lowered their price target on U.S. Bancorp from $41.00 to $40.00 and set a “neutral” rating for the company in a report on Friday. Oppenheimer lowered their price target on U.S. Bancorp from $70.00 to $67.00 and set an “outperform” rating for the company in a report on Friday, August 18th. Citigroup lowered their price target on U.S. Bancorp from $39.00 to $33.00 in a report on Sunday, June 11th. Finally, Raymond James raised U.S. Bancorp from an “underperform” rating to a “market perform” rating in a report on Thursday, July 20th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, U.S. Bancorp currently has a consensus rating of “Hold” and a consensus price target of $46.71.
View Our Latest Stock Report on USB
About U.S. Bancorp
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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