EverSource Wealth Advisors LLC Grows Stake in U.S. Bancorp (NYSE:USB)

EverSource Wealth Advisors LLC lifted its position in shares of U.S. Bancorp (NYSE:USB) by 71.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 7,321 shares of the financial services provider’s stock after purchasing an additional 3,060 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in U.S. Bancorp were worth $350,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Sigma Planning Corp boosted its stake in shares of U.S. Bancorp by 10.5% in the 3rd quarter. Sigma Planning Corp now owns 8,355 shares of the financial services provider’s stock valued at $382,000 after purchasing an additional 792 shares in the last quarter. Prime Capital Investment Advisors LLC boosted its position in U.S. Bancorp by 35.7% during the third quarter. Prime Capital Investment Advisors LLC now owns 13,270 shares of the financial services provider’s stock valued at $607,000 after buying an additional 3,491 shares during the period. Empower Advisory Group LLC grew its stake in shares of U.S. Bancorp by 11.3% during the third quarter. Empower Advisory Group LLC now owns 5,625 shares of the financial services provider’s stock valued at $257,000 after buying an additional 572 shares during the last quarter. OneDigital Investment Advisors LLC increased its holdings in shares of U.S. Bancorp by 7.0% in the third quarter. OneDigital Investment Advisors LLC now owns 34,294 shares of the financial services provider’s stock worth $1,568,000 after buying an additional 2,232 shares during the period. Finally, CIBC Asset Management Inc lifted its stake in shares of U.S. Bancorp by 8.6% in the 3rd quarter. CIBC Asset Management Inc now owns 484,791 shares of the financial services provider’s stock valued at $22,169,000 after acquiring an additional 38,258 shares during the last quarter. Institutional investors own 77.60% of the company’s stock.

Analysts Set New Price Targets

USB has been the topic of a number of analyst reports. Morgan Stanley decreased their price target on U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Citigroup upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their price target for the company from $49.00 to $65.00 in a report on Monday, November 25th. DA Davidson raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their price target for the stock from $58.00 to $60.00 in a report on Thursday, January 2nd. Barclays increased their target price on shares of U.S. Bancorp from $57.00 to $61.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Finally, Compass Point boosted their price target on U.S. Bancorp from $49.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $54.21.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, CEO Andrew Cecere sold 102,044 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $47.25, for a total transaction of $4,821,579.00. Following the transaction, the chief executive officer now owns 1,230,316 shares in the company, valued at approximately $58,132,431. This represents a 7.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Terrance R. Dolan sold 66,317 shares of U.S. Bancorp stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $46.96, for a total transaction of $3,114,246.32. Following the completion of the sale, the insider now owns 209,482 shares of the company’s stock, valued at $9,837,274.72. This represents a 24.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 219,812 shares of company stock valued at $10,385,665 over the last ninety days. Insiders own 0.23% of the company’s stock.

U.S. Bancorp Price Performance

USB stock opened at $42.06 on Friday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81. The firm has a 50 day moving average price of $46.90 and a 200-day moving average price of $47.78. U.S. Bancorp has a 52-week low of $37.81 and a 52-week high of $53.98. The firm has a market capitalization of $65.53 billion, a price-to-earnings ratio of 11.10, a PEG ratio of 1.73 and a beta of 1.02.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, beating the consensus estimate of $1.06 by $0.01. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The company had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $7 billion. During the same period in the prior year, the firm posted $0.99 EPS. U.S. Bancorp’s revenue for the quarter was up 3.7% on a year-over-year basis. Equities research analysts forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.75%. The ex-dividend date is Monday, March 31st. U.S. Bancorp’s dividend payout ratio is currently 52.77%.

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.