Highwater Wealth Management LLC bought a new position in U.S. Bancorp (NYSE:USB) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 2,538 shares of the financial services provider’s stock, valued at approximately $134,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of USB. First Citizens Bank & Trust Co. boosted its stake in U.S. Bancorp by 3.4% during the fourth quarter. First Citizens Bank & Trust Co. now owns 7,369 shares of the financial services provider’s stock valued at $337,000 after buying an additional 241 shares during the period. Vision Capital Management Inc. boosted its stake in U.S. Bancorp by 2.3% during the fourth quarter. Vision Capital Management Inc. now owns 13,305 shares of the financial services provider’s stock valued at $608,000 after buying an additional 295 shares during the period. Meristem Family Wealth LLC boosted its stake in U.S. Bancorp by 0.3% during the third quarter. Meristem Family Wealth LLC now owns 144,286 shares of the financial services provider’s stock valued at $7,620,000 after buying an additional 400 shares during the period. Cohen Lawrence B boosted its stake in U.S. Bancorp by 0.7% during the fourth quarter. Cohen Lawrence B now owns 78,456 shares of the financial services provider’s stock valued at $3,585,000 after buying an additional 544 shares during the period. Finally, Curbstone Financial Management Corp boosted its stake in U.S. Bancorp by 1.4% during the fourth quarter. Curbstone Financial Management Corp now owns 43,550 shares of the financial services provider’s stock valued at $1,990,000 after buying an additional 600 shares during the period. 75.16% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently issued reports on USB shares. Zacks Investment Research raised U.S. Bancorp from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research note on Friday, October 12th. Deutsche Bank lowered U.S. Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, November 26th. UBS Group set a $56.00 price target on U.S. Bancorp and gave the stock a “hold” rating in a research note on Monday, October 22nd. Citigroup lowered U.S. Bancorp from a “buy” rating to a “neutral” rating in a research note on Friday, November 2nd. Finally, Oppenheimer raised U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $62.00 price target for the company in a research note on Thursday, October 18th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $58.78.
Shares of USB stock traded up $0.33 during midday trading on Friday, reaching $51.22. 99,073 shares of the stock were exchanged, compared to its average volume of 8,079,400. U.S. Bancorp has a 1 year low of $43.14 and a 1 year high of $58.50. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market capitalization of $81.03 billion, a price-to-earnings ratio of 12.53, a price-to-earnings-growth ratio of 1.54 and a beta of 1.02.
U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Wednesday, January 16th. The financial services provider reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. The firm had revenue of $5.83 billion for the quarter, compared to analysts’ expectations of $5.73 billion. U.S. Bancorp had a return on equity of 15.64% and a net margin of 27.53%. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.88 EPS. Sell-side analysts forecast that U.S. Bancorp will post 4.35 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 15th. Investors of record on Monday, December 31st were given a $0.37 dividend. The ex-dividend date of this dividend was Friday, December 28th. This represents a $1.48 annualized dividend and a yield of 2.89%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 36.10%.
In related news, Vice Chairman John R. Elmore sold 19,418 shares of the company’s stock in a transaction that occurred on Tuesday, November 13th. The stock was sold at an average price of $53.59, for a total value of $1,040,610.62. Following the transaction, the insider now directly owns 78,953 shares of the company’s stock, valued at approximately $4,231,091.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Andrew Cecere sold 183,374 shares of the company’s stock in a transaction that occurred on Thursday, November 8th. The shares were sold at an average price of $52.95, for a total value of $9,709,653.30. Following the completion of the transaction, the chairman now directly owns 892,517 shares in the company, valued at $47,258,775.15. The disclosure for this sale can be found here. Insiders sold a total of 220,041 shares of company stock worth $11,672,926 over the last ninety days. 0.43% of the stock is currently owned by insiders.
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About U.S. Bancorp
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. The company operates through five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.
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