U.S. Bancorp $USB Stock Acquired by Kestra Advisory Services LLC

Kestra Advisory Services LLC grew its position in shares of U.S. Bancorp (NYSE:USB) by 13.1% in the third quarter, Holdings Channel reports. The fund owned 276,238 shares of the financial services provider’s stock after buying an additional 32,036 shares during the quarter. Kestra Advisory Services LLC’s holdings in U.S. Bancorp were worth $15,955,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of USB. Dogwood Wealth Management LLC increased its position in U.S. Bancorp by 32.9% in the second quarter. Dogwood Wealth Management LLC now owns 687 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 170 shares during the last quarter. Blalock Williams LLC lifted its position in U.S. Bancorp by 3.8% during the second quarter. Blalock Williams LLC now owns 4,680 shares of the financial services provider’s stock valued at $283,000 after purchasing an additional 171 shares during the last quarter. Virtue Capital Management LLC lifted its position in U.S. Bancorp by 2.4% during the third quarter. Virtue Capital Management LLC now owns 7,517 shares of the financial services provider’s stock valued at $434,000 after purchasing an additional 177 shares during the last quarter. FAS Wealth Partners Inc. grew its stake in shares of U.S. Bancorp by 0.9% in the 1st quarter. FAS Wealth Partners Inc. now owns 19,964 shares of the financial services provider’s stock worth $1,038,000 after buying an additional 186 shares in the last quarter. Finally, Cornerstone Planning Group LLC grew its stake in shares of U.S. Bancorp by 19.7% in the 1st quarter. Cornerstone Planning Group LLC now owns 1,175 shares of the financial services provider’s stock worth $65,000 after buying an additional 193 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, CEO Gunjan Kedia sold 27,267 shares of the firm’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $62.37, for a total transaction of $1,700,642.79. Following the transaction, the chief executive officer directly owned 426,262 shares in the company, valued at $26,585,960.94. This trade represents a 6.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.21% of the stock is currently owned by company insiders.

U.S. Bancorp Price Performance

USB opened at $59.49 on Monday. The business has a fifty day moving average of $59.65 and a 200 day moving average of $58.18. U.S. Bancorp has a 52-week low of $45.02 and a 52-week high of $66.07. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.87. The stock has a market cap of $92.68 billion, a P/E ratio of 11.60, a PEG ratio of 1.13 and a beta of 1.02.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Thursday, October 15th. The financial services provider reported $1.34 EPS for the quarter, beating the consensus estimate of $1.32 by $0.02. The company had revenue of $8.04 billion for the quarter, compared to the consensus estimate of $8 billion. U.S. Bancorp had a return on equity of 13.85% and a net margin of 18.85%. U.S. Bancorp’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.22 EPS. As a group, sell-side analysts anticipate that U.S. Bancorp will post 5.30 EPS for the current year.

U.S. Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were paid a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 3.6%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Wednesday, September 30th. U.S. Bancorp’s payout ratio is currently 42.11%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on USB. Wells Fargo & Company boosted their price objective on U.S. Bancorp from $66.00 to $69.00 and gave the stock an “overweight” rating in a research note on Friday, July 17th. Argus boosted their price objective on shares of U.S. Bancorp from $63.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. Truist Financial dropped their price target on shares of U.S. Bancorp from $69.00 to $67.00 and set a “buy” rating for the company in a research note on Thursday, October 1st. UBS Group upped their price target on shares of U.S. Bancorp from $64.00 to $66.00 and gave the company a “neutral” rating in a report on Monday, November 2nd. Finally, Barclays increased their price objective on shares of U.S. Bancorp from $67.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $68.65.

U.S. Bancorp Company Profile

U.S. Bancorp is the parent company of U.S. Bank, a financial services provider serving consumers, businesses, institutions and government entities across the United States. Its history traces to 1863, when one of its predecessor institutions, First National Bank of Cincinnati, was established.

U.S. Bank offers consumer and business banking, lending, payment services, wealth management, investment services and corporate trust services. Its products include checking and savings accounts, credit cards, mortgages, commercial loans and digital banking solutions.

Headquartered in Minneapolis, Minnesota, U.S.