Marcum Wealth LLC Has $427,000 Stake in U.S. Bancorp (NYSE:USB)

Marcum Wealth LLC raised its holdings in U.S. Bancorp (NYSE:USB) by 7.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,767 shares of the financial services provider’s stock after buying an additional 777 shares during the quarter. Marcum Wealth LLC’s holdings in U.S. Bancorp were worth $427,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of USB. Naples Money Management LLC bought a new stake in shares of U.S. Bancorp in the 4th quarter worth approximately $30,000. Financial Synergies Wealth Advisors Inc. bought a new stake in shares of U.S. Bancorp in the 1st quarter worth approximately $30,000. Eagle Bay Advisors LLC lifted its position in shares of U.S. Bancorp by 93.2% in the 1st quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 331 shares during the period. LRI Investments LLC bought a new stake in shares of U.S. Bancorp in the 1st quarter worth approximately $31,000. Finally, Crewe Advisors LLC bought a new position in shares of U.S. Bancorp during the 1st quarter worth approximately $39,000. Institutional investors own 77.60% of the company’s stock.

Insider Activity

In other news, Director Aleem Gillani purchased 10,000 shares of the business’s stock in a transaction dated Thursday, July 18th. The shares were bought at an average cost of $44.99 per share, for a total transaction of $449,900.00. Following the completion of the acquisition, the director now directly owns 10,000 shares in the company, valued at approximately $449,900. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.23% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Keefe, Bruyette & Woods restated a “market perform” rating and set a $45.00 target price (down previously from $52.00) on shares of U.S. Bancorp in a research report on Thursday, April 18th. StockNews.com upgraded U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Morgan Stanley raised their target price on U.S. Bancorp from $47.00 to $54.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. DA Davidson lifted their price objective on U.S. Bancorp from $44.00 to $49.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. Finally, Wells Fargo & Company lifted their price objective on U.S. Bancorp from $48.00 to $52.00 and gave the company an “overweight” rating in a research report on Thursday, July 18th. Thirteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $48.23.

U.S. Bancorp Trading Down 3.7 %

Shares of U.S. Bancorp stock traded down $1.55 during trading on Monday, reaching $40.80. 10,536,762 shares of the company were exchanged, compared to its average volume of 8,591,021. U.S. Bancorp has a twelve month low of $30.47 and a twelve month high of $45.88. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $63.67 billion, a price-to-earnings ratio of 13.63, a P/E/G ratio of 4.20 and a beta of 1.04. The business has a 50-day moving average price of $41.10 and a 200-day moving average price of $41.59.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.04. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The firm had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.81 billion. During the same period in the previous year, the firm earned $1.12 earnings per share. The company’s revenue was down 4.3% on a year-over-year basis. Sell-side analysts anticipate that U.S. Bancorp will post 3.9 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were issued a $0.49 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.80%. U.S. Bancorp’s dividend payout ratio (DPR) is 64.90%.

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.