Avidian Wealth Enterprises LLC Buys 1,619 Shares of U.S. Bancorp (NYSE:USB)

Avidian Wealth Enterprises LLC grew its stake in shares of U.S. Bancorp (NYSE:USB) by 19.4% in the fourth quarter, Holdings Channel reports. The fund owned 9,968 shares of the financial services provider’s stock after acquiring an additional 1,619 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in U.S. Bancorp were worth $477,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of USB. AMF Tjanstepension AB boosted its holdings in U.S. Bancorp by 16.9% in the 3rd quarter. AMF Tjanstepension AB now owns 532,105 shares of the financial services provider’s stock worth $24,401,000 after buying an additional 76,914 shares during the period. Swedbank AB boosted its holdings in U.S. Bancorp by 5.1% in the 3rd quarter. Swedbank AB now owns 541,266 shares of the financial services provider’s stock worth $24,752,000 after buying an additional 26,281 shares during the period. SeaCrest Wealth Management LLC boosted its holdings in U.S. Bancorp by 4.3% in the 3rd quarter. SeaCrest Wealth Management LLC now owns 11,514 shares of the financial services provider’s stock worth $527,000 after buying an additional 477 shares during the period. Sumitomo Life Insurance Co. boosted its holdings in U.S. Bancorp by 2.6% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 19,099 shares of the financial services provider’s stock worth $873,000 after buying an additional 481 shares during the period. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its holdings in U.S. Bancorp by 7.7% in the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 69,505 shares of the financial services provider’s stock worth $3,178,000 after buying an additional 4,943 shares during the period. 77.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Royal Bank of Canada set a $53.00 price objective on shares of U.S. Bancorp in a report on Thursday, October 17th. Truist Financial began coverage on shares of U.S. Bancorp in a research note on Tuesday, January 7th. They issued a “hold” rating and a $54.00 target price on the stock. Deutsche Bank Aktiengesellschaft cut shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 target price on the stock. in a research note on Thursday, October 24th. Raymond James upgraded shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 target price on the stock in a research note on Thursday, December 19th. Finally, 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 research note on Monday, January 6th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $54.21.

Insider Buying and Selling

In other U.S. Bancorp news, EVP James L. Chosy sold 21,451 shares of the firm’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $47.65, for a total value of $1,022,140.15. Following the sale, the executive vice president now owns 198,127 shares of the company’s stock, valued at $9,440,751.55. This trade represents a 9.77 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Terrance R. Dolan sold 66,317 shares of the firm’s stock in a transaction 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 directly owns 209,482 shares in the company, valued at approximately $9,837,274.72. This trade represents a 24.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 219,812 shares of company stock worth $10,385,665 in the last 90 days. 0.23% of the stock is owned by company insiders.

U.S. Bancorp Price Performance

Shares of NYSE:USB opened at $47.32 on Friday. The stock has a market cap of $73.83 billion, a PE ratio of 12.49, a PEG ratio of 1.77 and a beta of 1.04. The company’s fifty day moving average is $48.80 and its 200 day moving average is $47.50. U.S. Bancorp has a 52 week low of $37.81 and a 52 week high of $53.98. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. The company had revenue of $7.01 billion for the quarter, compared to analysts’ expectations of $7 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The firm’s revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.99 EPS. Research analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date was Tuesday, December 31st. U.S. Bancorp’s payout ratio is presently 52.77%.

About U.S. Bancorp

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.