HB Wealth Management LLC Acquires 27,415 Shares of U.S. Bancorp $USB

HB Wealth Management LLC grew its holdings in shares of U.S. Bancorp (NYSE:USB) by 12.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 254,322 shares of the financial services provider’s stock after buying an additional 27,415 shares during the quarter. HB Wealth Management LLC’s holdings in U.S. Bancorp were worth $12,291,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in USB. Chemung Canal Trust Co. grew its stake in U.S. Bancorp by 205.5% during the third quarter. Chemung Canal Trust Co. now owns 68,327 shares of the financial services provider’s stock worth $3,302,000 after buying an additional 45,963 shares in the last quarter. Synergy Asset Management LLC grew its holdings in shares of U.S. Bancorp by 100.0% during the third quarter. Synergy Asset Management LLC now owns 119,962 shares of the financial services provider’s stock worth $5,428,000 after purchasing an additional 59,981 shares during the last quarter. Andra AP fonden increased its position in U.S. Bancorp by 175.6% in the 2nd quarter. Andra AP fonden now owns 458,400 shares of the financial services provider’s stock valued at $20,743,000 after acquiring an additional 292,100 shares during the period. Cardinal Capital Management Inc. raised its position in U.S. Bancorp by 698.5% during the 3rd quarter. Cardinal Capital Management Inc. now owns 243,101 shares of the financial services provider’s stock worth $11,749,000 after purchasing an additional 212,655 shares during the last quarter. Finally, DAVENPORT & Co LLC lifted its stake in shares of U.S. Bancorp by 6.6% in the third quarter. DAVENPORT & Co LLC now owns 214,901 shares of the financial services provider’s stock worth $10,386,000 after acquiring an additional 13,280 shares during the period. Institutional investors and hedge funds own 77.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Evercore ISI set a $60.00 target price on shares of U.S. Bancorp in a report on Tuesday. Deutsche Bank Aktiengesellschaft raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $52.50 price target for the company in a research report on Thursday, October 23rd. Keefe, Bruyette & Woods boosted their price objective on U.S. Bancorp from $53.00 to $58.00 and gave the stock a “market perform” rating in a report on Wednesday, December 17th. Wolfe Research downgraded shares of U.S. Bancorp from an “outperform” rating to a “peer perform” rating in a report on Wednesday. Finally, Bank of America lifted their price target on U.S. Bancorp from $54.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $56.30.

U.S. Bancorp Price Performance

Shares of NYSE USB opened at $54.90 on Thursday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.82 and a current ratio of 0.82. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two week high of $56.19. The stock has a market cap of $85.34 billion, a PE ratio of 12.56, a price-to-earnings-growth ratio of 0.98 and a beta of 1.07. The stock has a fifty day moving average of $50.73 and a 200-day moving average of $48.39.

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

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Wednesday, December 31st. U.S. Bancorp’s dividend payout ratio (DPR) is 47.60%.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, EVP James L. Chosy sold 26,909 shares of the firm’s stock in a transaction 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 transaction, the executive vice president directly owned 226,375 shares of the company’s stock, valued at $10,607,932.50. This trade represents a 10.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Andrew Cecere sold 140,445 shares of the business’s stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $46.34, for a total value of $6,508,221.30. Following the transaction, the chairman owned 1,360,414 shares of the company’s stock, valued at approximately $63,041,584.76. The trade was a 9.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.23% of the stock is currently owned by insiders.

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.