Birchcreek Wealth Management LLC Acquires Shares of 4,659 U.S. Bancorp $USB

Birchcreek Wealth Management LLC bought a new stake in shares of U.S. Bancorp (NYSE:USB) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 4,659 shares of the financial services provider’s stock, valued at approximately $211,000.

A number of other large investors also recently made changes to their positions in USB. IMG Wealth Management Inc. acquired a new position in U.S. Bancorp in the second quarter valued at about $25,000. Saudi Central Bank acquired a new position in shares of U.S. Bancorp during the 1st quarter worth about $26,000. Activest Wealth Management increased its stake in shares of U.S. Bancorp by 846.5% in the 2nd quarter. Activest Wealth Management now owns 814 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 728 shares during the last quarter. Groupe la Francaise acquired a new stake in shares of U.S. Bancorp in the 1st quarter valued at approximately $41,000. Finally, Meeder Asset Management Inc. raised its position in shares of U.S. Bancorp by 118.4% in the 1st quarter. Meeder Asset Management Inc. now owns 987 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 535 shares during the period. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Trading Up 1.0%

NYSE USB opened at $47.32 on Monday. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $53.98. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.10. The stock has a 50 day moving average of $47.95 and a 200-day moving average of $45.88. The company has a market cap of $73.64 billion, a PE ratio of 10.83, a PEG ratio of 1.25 and a beta of 1.10.

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

U.S. Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were paid a $0.52 dividend. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.50. The ex-dividend date was Tuesday, September 30th. This represents a $2.08 annualized dividend and a yield of 4.4%. U.S. Bancorp’s dividend payout ratio (DPR) is 47.60%.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, Chairman Andrew Cecere sold 140,445 shares of the business’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 transaction of $6,508,221.30. Following the transaction, the chairman owned 1,360,414 shares of the company’s stock, valued at $63,041,584.76. The trade was a 9.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP James L. Chosy sold 26,909 shares of the firm’s 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 completion of the sale, the executive vice president directly owned 226,375 shares of the company’s stock, valued at approximately $10,607,932.50. The trade was a 10.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on USB shares. UBS Group upped their target price on shares of U.S. Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a research note on Tuesday, October 7th. Wall Street Zen raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Friday, July 18th. Wells Fargo & Company raised their price objective on U.S. Bancorp from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Friday, October 17th. Deutsche Bank Aktiengesellschaft raised 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. Finally, Truist Financial raised their price target on U.S. Bancorp from $51.00 to $52.00 and gave the stock a “hold” rating in a research report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $54.55.

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