HighTower Advisors LLC Has $39.72 Million Stake in U.S. Bancorp $USB

HighTower Advisors LLC increased its position in U.S. Bancorp (NYSE:USB) by 6.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 821,879 shares of the financial services provider’s stock after acquiring an additional 50,132 shares during the period. HighTower Advisors LLC’s holdings in U.S. Bancorp were worth $39,722,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in USB. Chemung Canal Trust Co. boosted its holdings in U.S. Bancorp by 205.5% in the third quarter. Chemung Canal Trust Co. now owns 68,327 shares of the financial services provider’s stock worth $3,302,000 after purchasing an additional 45,963 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of U.S. Bancorp by 15.3% in the third quarter. Jones Financial Companies Lllp now owns 358,972 shares of the financial services provider’s stock worth $17,738,000 after buying an additional 47,537 shares during the last quarter. Synergy Asset Management LLC boosted its stake in shares of U.S. Bancorp by 100.0% during the 3rd quarter. Synergy Asset Management LLC now owns 119,962 shares of the financial services provider’s stock worth $5,428,000 after acquiring an additional 59,981 shares in the last quarter. Andra AP fonden increased its holdings in shares of U.S. Bancorp by 175.6% during the 2nd quarter. Andra AP fonden now owns 458,400 shares of the financial services provider’s stock valued at $20,743,000 after acquiring an additional 292,100 shares during the last quarter. Finally, SteelPeak Wealth LLC raised its stake in shares of U.S. Bancorp by 757.8% in the 3rd quarter. SteelPeak Wealth LLC now owns 176,500 shares of the financial services provider’s stock valued at $8,622,000 after acquiring an additional 155,925 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

U.S. Bancorp Stock Up 0.8%

NYSE USB opened at $58.16 on Wednesday. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $61.19. The stock has a market cap of $90.41 billion, a PE ratio of 12.59, a PEG ratio of 1.03 and a beta of 1.06. The firm has a 50-day simple moving average of $55.68 and a 200 day simple moving average of $50.56. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Tuesday, January 20th. The financial services provider reported $1.26 EPS for the quarter, beating the consensus estimate of $1.19 by $0.07. U.S. Bancorp had a return on equity of 13.48% and a net margin of 17.66%.The firm had revenue of $7.92 billion during the quarter, compared to analysts’ expectations of $7.31 billion. During the same quarter in the prior year, the firm posted $1.07 EPS. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, research analysts forecast that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Wednesday, December 31st. U.S. Bancorp’s dividend payout ratio (DPR) is 45.02%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on USB. TD Cowen lifted their price target on shares of U.S. Bancorp from $65.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, January 21st. JPMorgan Chase & Co. raised their target price on shares of U.S. Bancorp from $55.50 to $62.00 and gave the company an “underweight” rating in a research note on Monday, February 9th. Barclays boosted their target price on shares of U.S. Bancorp from $56.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. Keefe, Bruyette & Woods raised their price target on U.S. Bancorp from $58.00 to $59.00 and gave the company a “market perform” rating in a research report on Wednesday, January 21st. Finally, Royal Bank Of Canada boosted their price objective on U.S. Bancorp from $57.00 to $59.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $59.79.

Insiders Place Their Bets

In other news, insider Mark G. Runkel sold 32,195 shares of the firm’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $60.65, for a total transaction of $1,952,626.75. Following the completion of the transaction, the insider directly owned 97,728 shares of the company’s stock, valued at approximately $5,927,203.20. This trade represents a 24.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.23% of the stock is owned by corporate insiders.

U.S. Bancorp Profile

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.