Genesis Private Wealth LLC Takes $353,000 Position in U.S. Bancorp (NYSE:USB)

Genesis Private Wealth LLC bought a new position in U.S. Bancorp (NYSE:USB) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 7,386 shares of the financial services provider’s stock, valued at approximately $353,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in USB. Natixis Advisors LLC lifted its stake in U.S. Bancorp by 16.6% during the third quarter. Natixis Advisors LLC now owns 401,232 shares of the financial services provider’s stock valued at $18,348,000 after purchasing an additional 56,990 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in U.S. Bancorp during the 4th quarter worth about $1,018,000. M&T Bank Corp increased its holdings in shares of U.S. Bancorp by 2.8% in the 3rd quarter. M&T Bank Corp now owns 846,344 shares of the financial services provider’s stock valued at $38,704,000 after purchasing an additional 22,803 shares during the period. Hilltop Holdings Inc. boosted its stake in shares of U.S. Bancorp by 184.3% during the 3rd quarter. Hilltop Holdings Inc. now owns 70,283 shares of the financial services provider’s stock valued at $3,214,000 after buying an additional 45,560 shares during the period. Finally, Keystone Financial Planning Inc. grew its holdings in shares of U.S. Bancorp by 29.5% during the 4th quarter. Keystone Financial Planning Inc. now owns 72,614 shares of the financial services provider’s stock valued at $3,473,000 after acquiring an additional 16,552 shares in the last quarter. 77.60% of the stock is owned by institutional investors.

U.S. Bancorp Trading Up 2.0 %

Shares of U.S. Bancorp stock opened at $49.33 on Wednesday. U.S. Bancorp has a 1 year low of $37.81 and a 1 year high of $53.98. The company’s fifty day simple moving average is $50.13 and its 200-day simple moving average is $46.94. The company has a market cap of $76.96 billion, a price-to-earnings ratio of 13.02, a PEG ratio of 1.80 and a beta of 1.05. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.01. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The company had revenue of $7.01 billion for the quarter, compared to analyst estimates of $7 billion. During the same period last year, the business posted $0.99 EPS. The business’s quarterly revenue was up 3.7% on a year-over-year basis. As a group, sell-side analysts expect that U.S. Bancorp will post 4.37 EPS for the current year.

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a $0.50 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.05%. U.S. Bancorp’s dividend payout ratio is currently 52.77%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on USB shares. Piper Sandler upgraded U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price objective for the company in a report on Monday, January 13th. Truist Financial assumed coverage on U.S. Bancorp in a research note on Tuesday, January 7th. They set a “hold” rating and a $54.00 price target for the company. Evercore ISI boosted their price target on U.S. Bancorp from $51.00 to $54.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Robert W. Baird set a $54.00 price objective on shares of U.S. Bancorp in a research report on Thursday, October 17th. Finally, Barclays boosted 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 report on Monday, January 6th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.21.

U.S. Bancorp 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.