Commonwealth Equity Services LLC Has $33.39 Million Stock Holdings in U.S. Bancorp (NYSE:USB)

Commonwealth Equity Services LLC raised its position in U.S. Bancorp (NYSE:USB) by 3.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 698,178 shares of the financial services provider’s stock after purchasing an additional 25,881 shares during the period. Commonwealth Equity Services LLC’s holdings in U.S. Bancorp were worth $33,394,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. J.Safra Asset Management Corp acquired a new position in shares of U.S. Bancorp during the 4th quarter valued at $26,000. Winch Advisory Services LLC raised its holdings in U.S. Bancorp by 1,088.9% during the fourth quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock worth $26,000 after buying an additional 490 shares during the last quarter. FPC Investment Advisory Inc. acquired a new position in U.S. Bancorp during the fourth quarter worth $28,000. Global Wealth Strategies & Associates raised its holdings in shares of U.S. Bancorp by 70.8% in the fourth quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 250 shares during the last quarter. Finally, Stonebridge Financial Group LLC purchased a new stake in shares of U.S. Bancorp in the fourth quarter valued at about $30,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on USB. Barclays increased their target price on shares of U.S. Bancorp from $57.00 to $61.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Raymond James upgraded shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 target price for the company in a report on Thursday, December 19th. Oppenheimer increased their target price on shares of U.S. Bancorp from $62.00 to $63.00 and gave the company an “outperform” rating in a report on Friday, January 17th. Compass Point increased their target price on shares of U.S. Bancorp from $49.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Finally, Truist Financial initiated coverage on shares of U.S. Bancorp in a report on Tuesday, January 7th. They issued a “hold” rating and a $54.00 target price for the company. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $54.21.

U.S. Bancorp Price Performance

USB stock opened at $42.06 on Friday. The firm has a 50 day moving average of $46.90 and a 200-day moving average of $47.78. 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 has a 12 month low of $37.81 and a 12 month high of $53.98. The firm has a market capitalization of $65.53 billion, a P/E ratio of 11.10, a price-to-earnings-growth ratio of 1.73 and a beta of 1.02.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $7 billion. During the same period last year, the business earned $0.99 earnings per share. U.S. Bancorp’s revenue was up 3.7% compared to the same quarter last year. 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 company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.50 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.75%. U.S. Bancorp’s dividend payout ratio (DPR) is currently 52.77%.

Insider Activity

In related news, insider Jodi L. Richard sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $47.59, for a total value of $1,427,700.00. Following the sale, the insider now directly owns 99,790 shares of the company’s stock, valued at $4,749,006.10. This trade represents a 23.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Terrance R. Dolan sold 66,317 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $46.96, for a total transaction of $3,114,246.32. Following the completion of the sale, the insider now directly owns 209,482 shares in the company, valued at $9,837,274.72. This represents a 24.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 219,812 shares of company stock worth $10,385,665. 0.23% of the stock is owned by company insiders.

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.