WCG Wealth Advisors LLC purchased a new position in shares of U.S. Bancorp (NYSE:USB – Free Report) in the fourth quarter, HoldingsChannel reports. The fund purchased 12,432 shares of the financial services provider’s stock, valued at approximately $663,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in U.S. Bancorp by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 146,376,783 shares of the financial services provider’s stock worth $7,810,665,000 after acquiring an additional 1,828,404 shares during the period. State Street Corp lifted its position in U.S. Bancorp by 0.9% during the 3rd quarter. State Street Corp now owns 69,179,530 shares of the financial services provider’s stock worth $3,378,808,000 after acquiring an additional 648,943 shares during the period. Geode Capital Management LLC lifted its position in U.S. Bancorp by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 37,679,617 shares of the financial services provider’s stock worth $2,002,518,000 after acquiring an additional 443,646 shares during the period. Norges Bank acquired a new stake in U.S. Bancorp during the 4th quarter worth about $1,887,497,000. Finally, Davis Selected Advisers raised its stake in shares of U.S. Bancorp by 13.4% during the 4th quarter. Davis Selected Advisers now owns 22,041,759 shares of the financial services provider’s stock valued at $1,176,148,000 after buying an additional 2,610,197 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.
Insider Activity
In related news, EVP Venkatachari Dilip sold 34,522 shares of U.S. Bancorp stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total value of $1,916,661.44. Following the completion of the transaction, the executive vice president owned 51,292 shares in the company, valued at $2,847,731.84. The trade was a 40.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jodi L. Richard sold 40,000 shares of U.S. Bancorp stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total value of $2,280,000.00. Following the completion of the transaction, the insider owned 207,251 shares of the company’s stock, valued at approximately $11,813,307. This represents a 16.18% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is owned by insiders.
U.S. Bancorp Price Performance
U.S. Bancorp (NYSE:USB – Get Free Report) last announced its quarterly earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.04. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.The firm had revenue of $7.32 billion during the quarter, compared to analyst estimates of $7.27 billion. During the same quarter in the previous year, the business earned $1.03 EPS. U.S. Bancorp’s revenue for the quarter was up 4.7% compared to the same quarter last year. Sell-side analysts predict that U.S. Bancorp will post 5.09 earnings per share for the current fiscal year.
U.S. Bancorp Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Tuesday, March 31st. U.S. Bancorp’s payout ratio is currently 43.61%.
Wall Street Analyst Weigh In
USB has been the subject of a number of recent research reports. Jefferies Financial Group reiterated a “hold” rating and set a $60.00 price objective on shares of U.S. Bancorp in a research note on Thursday, April 16th. DA Davidson reiterated a “buy” rating and set a $65.00 price objective on shares of U.S. Bancorp in a research note on Friday, April 17th. Morgan Stanley set a $64.00 price objective on U.S. Bancorp in a research note on Friday, April 17th. Barclays lifted their price objective on U.S. Bancorp from $65.00 to $67.00 and gave the company an “overweight” rating in a research note on Friday, April 17th. Finally, Truist Financial reduced their price objective on U.S. Bancorp from $63.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, U.S. Bancorp has a consensus rating of “Moderate Buy” and a consensus target price of $61.20.
Check Out Our Latest Report on USB
About U.S. Bancorp
U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.
Headquartered in Minneapolis, Minnesota, U.S.
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