U.S. Bancorp $USB Shares Purchased by Parkside Financial Bank & Trust

Parkside Financial Bank & Trust grew its position in shares of U.S. Bancorp (NYSE:USB) by 19.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,500 shares of the financial services provider’s stock after purchasing an additional 4,147 shares during the period. Parkside Financial Bank & Trust’s holdings in U.S. Bancorp were worth $1,154,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. IMG Wealth Management Inc. acquired a new stake in U.S. Bancorp during the second quarter worth approximately $25,000. Saudi Central Bank acquired a new position in U.S. Bancorp in the 1st quarter valued at $26,000. Cornerstone Planning Group LLC lifted its stake in shares of U.S. Bancorp by 118.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 776 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 420 shares during the period. Activest Wealth Management boosted its holdings in shares of U.S. Bancorp by 846.5% during the second quarter. Activest Wealth Management now owns 814 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 728 shares during the last quarter. Finally, Groupe la Francaise acquired a new stake in shares of U.S. Bancorp during the first quarter worth $41,000. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on USB. Deutsche Bank Aktiengesellschaft upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and set a $52.50 target price for the company in a research note on Thursday, October 23rd. DA Davidson lifted their price target on U.S. Bancorp from $57.00 to $59.00 and gave the company a “buy” rating in a report on Friday, October 17th. Oppenheimer cut their price objective on shares of U.S. Bancorp from $67.00 to $66.00 and set an “outperform” rating on the stock in a report on Tuesday, September 23rd. 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. Finally, Truist Financial boosted their target price on shares of U.S. Bancorp from $51.00 to $52.00 and gave the company a “hold” rating in a report on Friday, October 17th. 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 given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.55.

U.S. Bancorp Stock Performance

NYSE USB opened at $47.32 on Friday. The business’s 50-day simple moving average is $47.95 and its 200-day simple moving average is $45.79. The firm has a market capitalization of $73.64 billion, a P/E ratio of 10.83, a P/E/G ratio of 1.25 and a beta of 1.10. 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 1.10, a current ratio of 0.82 and a quick ratio of 0.82.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.22 EPS for the quarter, beating the consensus estimate of $1.11 by $0.11. U.S. Bancorp had a net margin of 16.89% and a return on equity of 13.34%. The firm had revenue of $7.34 billion for the quarter, compared to analyst estimates of $7.17 billion. During the same quarter last year, the firm posted $1.03 earnings per share. U.S. Bancorp’s revenue for the quarter was up 6.8% compared to the same quarter last year. Equities analysts predict that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were paid a dividend of $0.52 per share. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date was Tuesday, September 30th. U.S. Bancorp’s payout ratio is presently 47.60%.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, Chairman Andrew Cecere sold 140,445 shares of the company’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 directly owned 1,360,414 shares of the company’s stock, valued at $63,041,584.76. This represents a 9.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP James L. Chosy sold 26,909 shares of the stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $46.86, for a total value of $1,260,955.74. Following the transaction, the executive vice president owned 226,375 shares of the company’s stock, valued at approximately $10,607,932.50. This trade represents a 10.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.23% of the company’s stock.

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.