West Family Investments Inc. Acquires 3,690 Shares of U.S. Bancorp $USB

West Family Investments Inc. grew its stake in shares of U.S. Bancorp (NYSE:USB) by 69.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,017 shares of the financial services provider’s stock after acquiring an additional 3,690 shares during the period. West Family Investments Inc.’s holdings in U.S. Bancorp were worth $408,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. IMG Wealth Management Inc. purchased a new stake in U.S. Bancorp during the 2nd quarter worth about $25,000. Saudi Central Bank bought a new stake in shares of U.S. Bancorp during the first quarter valued at about $26,000. Hillsdale Investment Management Inc. bought a new stake in shares of U.S. Bancorp during the second quarter valued at about $27,000. Pineridge Advisors LLC lifted its holdings in shares of U.S. Bancorp by 446.2% in the second quarter. Pineridge Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after buying an additional 522 shares in the last quarter. Finally, Activest Wealth Management boosted its position in shares of U.S. Bancorp by 846.5% in the second quarter. Activest Wealth Management now owns 814 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 728 shares during the period. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

USB has been the topic of a number of analyst reports. Truist Financial upped their target price on shares of U.S. Bancorp from $51.00 to $52.00 and gave the stock a “hold” rating in a report on Friday, October 17th. Wells Fargo & Company upped their price target on shares of U.S. Bancorp from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, October 17th. Bank of America increased their price objective on U.S. Bancorp from $54.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Weiss Ratings restated a “buy (b-)” rating on shares of U.S. Bancorp in a research report on Wednesday, October 8th. Finally, Morgan Stanley restated a “positive” rating on shares of U.S. Bancorp in a research note on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $54.45.

U.S. Bancorp Trading Up 0.1%

Shares of USB stock opened at $49.00 on Friday. The business has a 50-day moving average price of $47.48 and a two-hundred day moving average price of $46.50. U.S. Bancorp has a 12-month low of $35.18 and a 12-month high of $53.75. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.10. The firm has a market cap of $76.17 billion, a P/E ratio of 11.21, a price-to-earnings-growth ratio of 1.25 and a beta of 1.10.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.11. The company had revenue of $7.34 billion for the quarter, compared to analysts’ expectations of $7.17 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.U.S. Bancorp’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period last year, the firm posted $1.03 EPS. Equities analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.2%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Tuesday, September 30th. U.S. Bancorp’s payout ratio is 47.60%.

Insider Buying and Selling

In related news, Chairman Andrew Cecere sold 140,445 shares of U.S. Bancorp stock in a transaction on Monday, October 20th. The shares were sold at an average price of $46.34, for a total value of $6,508,221.30. Following the transaction, the chairman owned 1,360,414 shares in the company, valued at $63,041,584.76. This trade represents a 9.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP James L. Chosy sold 26,909 shares of the business’s stock in a transaction on Monday, October 20th. The stock was sold at an average price of $46.86, for a total transaction of $1,260,955.74. Following the completion of the sale, the executive vice president directly owned 226,375 shares of the company’s stock, valued at $10,607,932.50. This represents a 10.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.23% of the company’s stock.

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.