Net Worth Advisory Group Buys Shares of 4,222 U.S. Bancorp (NYSE:USB)

Net Worth Advisory Group acquired a new position in U.S. Bancorp (NYSE:USB) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 4,222 shares of the financial services provider’s stock, valued at approximately $202,000.

A number of other hedge funds have also recently made changes to their positions in the stock. CWA Asset Management Group LLC purchased a new position in U.S. Bancorp during the 3rd quarter valued at about $249,000. Covestor Ltd boosted its position in U.S. Bancorp by 15.2% in the 3rd quarter. Covestor Ltd now owns 1,741 shares of the financial services provider’s stock valued at $80,000 after buying an additional 230 shares during the period. Sigma Planning Corp grew its stake in U.S. Bancorp by 10.5% during the 3rd quarter. Sigma Planning Corp now owns 8,355 shares of the financial services provider’s stock worth $382,000 after purchasing an additional 792 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in U.S. Bancorp in the third quarter valued at approximately $72,000. Finally, Kennebec Savings Bank purchased a new position in U.S. Bancorp in the third quarter worth approximately $68,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Down 1.8 %

Shares of U.S. Bancorp stock opened at $41.60 on Wednesday. U.S. Bancorp has a one year low of $37.81 and a one year high of $53.98. The company has a market cap of $64.81 billion, a P/E ratio of 10.98, a PEG ratio of 1.73 and a beta of 1.02. 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 firm has a fifty day moving average of $47.29 and a two-hundred day moving average of $47.89.

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 firm had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $7 billion. During the same period in the prior year, the company posted $0.99 earnings per share. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.81%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 52.77%.

Insider Buying and Selling

In other news, insider Terrance R. Dolan sold 66,317 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 209,482 shares of the company’s stock, valued at $9,837,274.72. The trade was a 24.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 completion of the sale, the chief executive officer now directly owns 1,230,316 shares in the company, valued at $58,132,431. This trade represents a 7.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 219,812 shares of company stock valued at $10,385,665 over the last quarter. Company insiders own 0.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on USB shares. Wells Fargo & Company increased their price objective on shares of U.S. Bancorp from $60.00 to $62.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Piper Sandler raised U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price target for the company in a report on Monday, January 13th. Oppenheimer increased their price objective on U.S. Bancorp from $62.00 to $63.00 and gave the company an “outperform” rating in a report on Friday, January 17th. Morgan Stanley decreased their target price on U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Finally, Barclays increased their price target on shares of U.S. Bancorp from $57.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, U.S. Bancorp 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.