2,347 Shares in U.S. Bancorp (NYSE:USB) Acquired by Golden State Wealth Management LLC

Golden State Wealth Management LLC purchased a new position in shares of U.S. Bancorp (NYSE:USB) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 2,347 shares of the financial services provider’s stock, valued at approximately $112,000.

A number of other hedge funds have also modified their holdings of the business. AMF Tjanstepension AB lifted its holdings in shares of U.S. Bancorp by 16.9% during the third quarter. AMF Tjanstepension AB now owns 532,105 shares of the financial services provider’s stock worth $24,401,000 after purchasing an additional 76,914 shares during the period. Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of U.S. Bancorp by 352.8% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 11,809 shares of the financial services provider’s stock valued at $545,000 after acquiring an additional 9,201 shares in the last quarter. Ritholtz Wealth Management raised its stake in U.S. Bancorp by 4.4% in the 3rd quarter. Ritholtz Wealth Management now owns 52,392 shares of the financial services provider’s stock valued at $2,396,000 after purchasing an additional 2,196 shares during the last quarter. Annex Advisory Services LLC boosted its stake in shares of U.S. Bancorp by 163.8% during the 3rd quarter. Annex Advisory Services LLC now owns 46,893 shares of the financial services provider’s stock worth $2,144,000 after purchasing an additional 29,119 shares during the last quarter. Finally, CVA Family Office LLC grew its holdings in shares of U.S. Bancorp by 6.3% during the third quarter. CVA Family Office LLC now owns 4,354 shares of the financial services provider’s stock worth $199,000 after buying an additional 259 shares in the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other U.S. Bancorp news, insider Terrance R. Dolan sold 66,317 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $46.96, for a total value of $3,114,246.32. Following the completion of the transaction, the insider now directly owns 209,482 shares in the company, valued at $9,837,274.72. This trade represents a 24.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Andrew Cecere sold 102,044 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $47.25, for a total value of $4,821,579.00. Following the transaction, the chief executive officer now directly owns 1,230,316 shares in the company, valued at $58,132,431. The trade was a 7.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 219,812 shares of company stock valued at $10,385,665 over the last quarter. Corporate insiders own 0.23% of the company’s stock.

Wall Street Analysts Forecast Growth

USB has been the subject of a number of recent analyst reports. Stephens lifted their price objective on U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Morgan Stanley decreased their target price on shares of U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Piper Sandler raised shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price target for the company in a research report on Monday, January 13th. Citigroup raised U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their target price for the stock from $49.00 to $65.00 in a research report on Monday, November 25th. Finally, Barclays boosted their price target on U.S. Bancorp from $57.00 to $61.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, U.S. Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $54.21.

U.S. Bancorp Trading Down 1.1 %

NYSE:USB opened at $47.22 on Monday. U.S. Bancorp has a one year low of $37.81 and a one year high of $53.98. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81. The stock has a market cap of $73.66 billion, a price-to-earnings ratio of 12.46, a price-to-earnings-growth ratio of 1.77 and a beta of 1.04. The business’s 50-day simple moving average is $49.09 and its 200 day simple moving average is $47.45.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share 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 period in the prior year, the company earned $0.99 earnings per share. As a group, sell-side analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date was Tuesday, December 31st. U.S. Bancorp’s dividend payout ratio (DPR) is 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.