Portside Wealth Group LLC Decreases Holdings in U.S. Bancorp (NYSE:USB)

Portside Wealth Group LLC reduced its holdings in shares of U.S. Bancorp (NYSE:USB) by 1.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 40,029 shares of the financial services provider’s stock after selling 689 shares during the period. Portside Wealth Group LLC’s holdings in U.S. Bancorp were worth $1,831,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Renaissance Technologies LLC bought a new position in shares of U.S. Bancorp during the second quarter valued at about $9,198,000. Mercer Global Advisors Inc. ADV boosted its holdings in U.S. Bancorp by 4.3% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 180,386 shares of the financial services provider’s stock valued at $7,757,000 after acquiring an additional 7,481 shares during the period. Brighton Jones LLC grew its position in U.S. Bancorp by 55.8% during the 2nd quarter. Brighton Jones LLC now owns 43,343 shares of the financial services provider’s stock worth $1,721,000 after acquiring an additional 15,531 shares during the last quarter. Ieq Capital LLC increased its stake in U.S. Bancorp by 17.7% in the 2nd quarter. Ieq Capital LLC now owns 64,479 shares of the financial services provider’s stock worth $2,560,000 after purchasing an additional 9,704 shares during the period. Finally, Benjamin F. Edwards & Company Inc. increased its stake in U.S. Bancorp by 2.5% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 122,232 shares of the financial services provider’s stock worth $4,852,000 after purchasing an additional 2,973 shares during the period. 77.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Oppenheimer raised their target price on shares of U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a report on Friday. Raymond James raised shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price target on the stock in a report on Thursday, December 19th. Stephens upped their price objective on shares of U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Truist Financial started coverage on 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. Finally, Compass Point upped their price target on U.S. Bancorp from $49.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $54.21.

U.S. Bancorp Stock Up 0.8 %

Shares of NYSE:USB opened at $48.40 on Friday. U.S. Bancorp has a 12-month low of $37.81 and a 12-month high of $53.98. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. The stock has a fifty day simple moving average of $50.18 and a two-hundred day simple moving average of $46.78. The stock has a market capitalization of $75.50 billion, a price-to-earnings ratio of 14.80, a PEG ratio of 2.47 and a beta of 1.05.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The business had revenue of $7.01 billion during the quarter, compared to analyst estimates of $7 billion. During the same period last year, the business earned $0.99 EPS. U.S. Bancorp’s revenue was up 3.7% compared to the same quarter last year. On average, research analysts anticipate that U.S. Bancorp will post 3.91 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.13%. The ex-dividend date of this dividend was Tuesday, December 31st. U.S. Bancorp’s dividend payout ratio is currently 61.16%.

U.S. Bancorp Company 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.