Motley Fool Wealth Management LLC Raises Stock Position in U.S. Bancorp $USB

Motley Fool Wealth Management LLC raised its stake in U.S. Bancorp (NYSE:USB) by 7.7% in the second quarter, HoldingsChannel reports. The institutional investor owned 30,588 shares of the financial services provider’s stock after buying an additional 2,200 shares during the quarter. Motley Fool Wealth Management LLC’s holdings in U.S. Bancorp were worth $1,384,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in USB. IMG Wealth Management Inc. purchased a new position in U.S. Bancorp in the second quarter valued at about $25,000. Saudi Central Bank purchased a new position in U.S. Bancorp in the first quarter valued at about $26,000. YANKCOM Partnership grew its position in shares of U.S. Bancorp by 59.4% in the first quarter. YANKCOM Partnership now owns 698 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 260 shares during the last quarter. Cornerstone Planning Group LLC grew its position in shares of U.S. Bancorp by 118.0% in the first quarter. Cornerstone Planning Group LLC now owns 776 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 420 shares during the last quarter. Finally, MorganRosel Wealth Management LLC acquired a new stake in shares of U.S. Bancorp in the first quarter valued at approximately $37,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on USB. Truist Financial increased their price target on shares of U.S. Bancorp from $51.00 to $52.00 and gave the company a “hold” rating in a research report on Friday, October 17th. The Goldman Sachs Group set a $52.00 price target on shares of U.S. Bancorp and gave the company a “neutral” rating in a research report on Friday, October 17th. Morgan Stanley reiterated a “positive” rating on shares of U.S. Bancorp in a research report on Friday, October 17th. Bank of America increased their price target on shares of U.S. Bancorp from $54.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, October 17th. Finally, Oppenheimer lowered their price target on shares of U.S. Bancorp from $67.00 to $66.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 23rd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, U.S. Bancorp has an average rating of “Moderate Buy” and an average target price of $54.55.

Insiders Place Their Bets

In other U.S. Bancorp news, Chairman Andrew Cecere sold 140,445 shares of U.S. Bancorp stock in a transaction on Monday, October 20th. The shares were 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 in the company, valued at $63,041,584.76. This trade represents a 9.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP James L. Chosy sold 26,909 shares of U.S. Bancorp stock in a transaction on Monday, October 20th. The shares were sold at an average price of $46.86, for a total transaction of $1,260,955.74. Following the completion of the transaction, the executive vice president owned 226,375 shares in the company, valued at approximately $10,607,932.50. This trade represents a 10.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.23% of the stock is owned by company insiders.

U.S. Bancorp Stock Down 1.1%

Shares of NYSE USB opened at $47.28 on Wednesday. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $53.98. The firm’s 50 day moving average price is $48.15 and its 200 day moving average price is $45.36. The firm has a market cap of $73.57 billion, a P/E ratio of 10.82, a price-to-earnings-growth ratio of 1.28 and a beta of 1.06. 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 (NYSE:USB) last announced its earnings results on Thursday, October 16th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.11. U.S. Bancorp had a net margin of 16.89% and a return on equity of 13.34%. The firm had revenue of $7.34 billion for the quarter, compared to analyst estimates of $7.17 billion. During the same quarter last year, the business earned $1.03 earnings per share. U.S. Bancorp’s revenue was up 6.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current 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 given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.4%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.50. The ex-dividend date was Tuesday, September 30th. U.S. Bancorp’s dividend payout ratio (DPR) is 47.60%.

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.