U.S. Bancorp (NYSE:USB) Shares Purchased by Park Avenue Securities LLC

Park Avenue Securities LLC increased its holdings in shares of U.S. Bancorp (NYSE:USB) by 4.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 182,304 shares of the financial services provider’s stock after acquiring an additional 7,443 shares during the quarter. Park Avenue Securities LLC’s holdings in U.S. Bancorp were worth $7,697,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. J.Safra Asset Management Corp acquired a new position in U.S. Bancorp during the fourth quarter worth about $26,000. FPC Investment Advisory Inc. acquired a new position in U.S. Bancorp during the fourth quarter worth about $28,000. Stonebridge Financial Group LLC acquired a new position in U.S. Bancorp during the fourth quarter worth about $30,000. Picton Mahoney Asset Management acquired a new position in U.S. Bancorp during the fourth quarter worth about $30,000. Finally, REAP Financial Group LLC boosted its position in U.S. Bancorp by 86.1% during the fourth quarter. REAP Financial Group LLC now owns 642 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 297 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other U.S. Bancorp news, Director Aleem Gillani bought 5,000 shares of the business’s stock in a transaction that occurred on Monday, April 21st. The shares were purchased at an average cost of $37.32 per share, with a total value of $186,600.00. Following the purchase, the director now directly owns 15,000 shares in the company, valued at approximately $559,800. This represents a 50.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.23% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on USB shares. Wells Fargo & Company lowered their price target on shares of U.S. Bancorp from $56.00 to $50.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. Truist Financial reduced their target price on shares of U.S. Bancorp from $51.00 to $48.00 and set a “hold” rating on the stock in a research note on Thursday, April 17th. Raymond James reaffirmed an “outperform” rating and set a $51.00 target price (down from $57.00) on shares of U.S. Bancorp in a research note on Thursday, April 17th. Oppenheimer lifted their target price on shares of U.S. Bancorp from $57.00 to $59.00 and gave the stock an “outperform” rating in a research note on Monday, April 28th. Finally, Evercore ISI lifted their target price on shares of U.S. Bancorp from $44.00 to $49.00 and gave the stock an “in-line” rating in a research note on Wednesday, June 4th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, U.S. Bancorp has a consensus rating of “Moderate Buy” and a consensus target price of $50.67.

U.S. Bancorp Price Performance

U.S. Bancorp stock opened at $44.76 on Monday. The company’s 50 day simple moving average is $41.15 and its 200-day simple moving average is $45.32. The company has a market capitalization of $69.74 billion, a price-to-earnings ratio of 11.81, a price-to-earnings-growth ratio of 1.73 and a beta of 0.99. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $53.98. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.06. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The business had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $6.92 billion. During the same period in the previous year, the firm earned $0.78 EPS. As a group, equities research analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.47%. The ex-dividend date of this dividend was Monday, March 31st. U.S. Bancorp’s payout ratio is currently 49.50%.

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 through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.