Bellwether Advisors LLC Makes New Investment in U.S. Bancorp (NYSE:USB)

Bellwether Advisors LLC purchased a new position in shares of U.S. Bancorp (NYSE:USB) during the 4th quarter, Holdings Channel.com reports. The fund purchased 1,981 shares of the financial services provider’s stock, valued at approximately $95,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP boosted its holdings in U.S. Bancorp by 2.6% in the fourth quarter. Capital Performance Advisors LLP now owns 8,188 shares of the financial services provider’s stock worth $392,000 after purchasing an additional 210 shares during the period. HCR Wealth Advisors lifted its position in U.S. Bancorp by 1.1% in the 4th quarter. HCR Wealth Advisors now owns 20,107 shares of the financial services provider’s stock valued at $962,000 after purchasing an additional 211 shares during the last quarter. Covestor Ltd boosted its stake in U.S. Bancorp by 12.3% during the 4th quarter. Covestor Ltd now owns 1,955 shares of the financial services provider’s stock valued at $94,000 after purchasing an additional 214 shares during the period. Priebe Wealth Holdings LLC increased its stake in shares of U.S. Bancorp by 4.4% in the fourth quarter. Priebe Wealth Holdings LLC now owns 5,078 shares of the financial services provider’s stock valued at $243,000 after purchasing an additional 215 shares during the period. Finally, Essex Savings Bank increased its stake in shares of U.S. Bancorp by 1.8% in the fourth quarter. Essex Savings Bank now owns 12,350 shares of the financial services provider’s stock valued at $591,000 after purchasing an additional 216 shares during the period. 77.60% of the stock is owned by institutional investors and hedge funds.

U.S. Bancorp Price Performance

Shares of NYSE:USB opened at $40.15 on Tuesday. The business has a 50 day moving average price of $41.57 and a 200 day moving average price of $46.57. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $53.98. The company has a market cap of $62.55 billion, a price-to-earnings ratio of 10.59, a PEG ratio of 1.73 and a beta of 0.91. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.06. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The firm had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $6.92 billion. During the same quarter in the prior year, the company earned $0.78 EPS. Research analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

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. The ex-dividend date was Monday, March 31st. This represents a $2.00 annualized dividend and a yield of 4.98%. U.S. Bancorp’s payout ratio is 49.50%.

Analyst Ratings Changes

Several equities research analysts have commented on USB shares. Oppenheimer raised their price target on shares of U.S. Bancorp from $57.00 to $59.00 and gave the company an “outperform” rating in a research note on Monday. Bank of America reduced their target price on shares of U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating for the company in a report on Monday, March 17th. Piper Sandler reduced their target price on shares of U.S. Bancorp from $49.00 to $48.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. The Goldman Sachs Group reduced their target price on shares of U.S. Bancorp from $51.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, March 19th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of U.S. Bancorp from $54.00 to $49.00 and set a “market perform” rating for the company in a report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $50.48.

Insider Activity at U.S. Bancorp

In related news, CEO Andrew Cecere sold 102,044 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $47.25, for a total transaction of $4,821,579.00. Following the completion of the transaction, the chief executive officer now owns 1,230,316 shares in the company, valued at $58,132,431. This trade represents a 7.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Terrance R. Dolan sold 66,317 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $46.96, for a total value of $3,114,246.32. Following the transaction, the insider now owns 209,482 shares of the company’s stock, valued at $9,837,274.72. This trade represents a 24.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 219,812 shares of company stock worth $10,385,665 in the last 90 days. 0.23% of the stock is owned by company insiders.

U.S. Bancorp 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.