Mission Wealth Management LP Takes Position in U.S. Bancorp (NYSE:USB)

Mission Wealth Management LP acquired a new position in shares of U.S. Bancorp (NYSE:USB) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 6,076 shares of the financial services provider’s stock, valued at approximately $263,000.

A number of other large investors have also recently bought and sold shares of USB. Scotia Capital Inc. increased its holdings in shares of U.S. Bancorp by 2.9% in the 3rd quarter. Scotia Capital Inc. now owns 35,012 shares of the financial services provider’s stock worth $1,158,000 after acquiring an additional 990 shares during the period. Spinnaker Trust bought a new position in U.S. Bancorp in the 4th quarter worth approximately $220,000. Tealwood Asset Management Inc. increased its position in U.S. Bancorp by 33.4% in the 4th quarter. Tealwood Asset Management Inc. now owns 62,539 shares of the financial services provider’s stock valued at $2,707,000 after acquiring an additional 15,665 shares during the period. Louisiana State Employees Retirement System acquired a new position in U.S. Bancorp during the 4th quarter worth $4,073,000. Finally, abrdn plc grew its stake in shares of U.S. Bancorp by 71.9% in the fourth quarter. abrdn plc now owns 652,401 shares of the financial services provider’s stock worth $28,236,000 after purchasing an additional 272,976 shares in the last quarter. Institutional investors own 77.60% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. HSBC raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating and upped their price objective for the stock from $47.00 to $53.00 in a report on Thursday, March 28th. Barclays decreased their price target on U.S. Bancorp from $56.00 to $52.00 and set an “overweight” rating for the company in a research note on Thursday, April 18th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $45.00 price objective (down previously from $52.00) on shares of U.S. Bancorp in a report on Thursday, April 18th. DA Davidson dropped their price target on shares of U.S. Bancorp from $45.00 to $44.00 and set a “neutral” rating on the stock in a research report on Thursday, April 18th. Finally, Evercore ISI lifted their price objective on shares of U.S. Bancorp from $46.00 to $48.00 and gave the stock an “in-line” rating in a research note on Thursday, March 28th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $46.02.

U.S. Bancorp Trading Up 1.1 %

Shares of NYSE USB opened at $41.42 on Friday. The firm has a market capitalization of $64.63 billion, a PE ratio of 13.71, a PEG ratio of 2.14 and a beta of 1.05. U.S. Bancorp has a one year low of $27.27 and a one year high of $45.85. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 1.07. The business has a 50-day moving average price of $42.32 and a two-hundred day moving average price of $40.35.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. U.S. Bancorp had a net margin of 12.13% and a return on equity of 13.93%. The firm had revenue of $6.72 billion for the quarter, compared to the consensus estimate of $6.71 billion. During the same period in the previous year, the firm posted $1.16 earnings per share. The firm’s revenue was down 6.4% on a year-over-year basis. As a group, analysts predict that U.S. Bancorp will post 3.84 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were issued a dividend of $0.49 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.96 annualized dividend and a dividend yield of 4.73%. U.S. Bancorp’s dividend payout ratio is 64.90%.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, EVP James L. Chosy sold 21,582 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $41.47, for a total value of $895,005.54. Following the transaction, the executive vice president now directly owns 164,880 shares of the company’s stock, valued at approximately $6,837,573.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.23% of the company’s stock.

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.