Focus Partners Wealth Increases Stake in U.S. Bancorp $USB

Focus Partners Wealth grew its stake in U.S. Bancorp (NYSE:USB) by 70.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 817,315 shares of the financial services provider’s stock after buying an additional 336,835 shares during the quarter. Focus Partners Wealth’s holdings in U.S. Bancorp were worth $43,606,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in USB. Brighton Jones LLC boosted its stake in shares of U.S. Bancorp by 323.0% in the 4th quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider’s stock valued at $2,309,000 after buying an additional 36,863 shares during the period. Empowered Funds LLC boosted its stake in shares of U.S. Bancorp by 2.1% in the 1st quarter. Empowered Funds LLC now owns 34,411 shares of the financial services provider’s stock valued at $1,453,000 after buying an additional 714 shares during the period. Intech Investment Management LLC boosted its stake in shares of U.S. Bancorp by 18.9% in the 1st quarter. Intech Investment Management LLC now owns 39,276 shares of the financial services provider’s stock valued at $1,658,000 after buying an additional 6,252 shares during the period. Sivia Capital Partners LLC purchased a new position in shares of U.S. Bancorp in the 2nd quarter valued at about $425,000. Finally, Nebula Research & Development LLC purchased a new position in shares of U.S. Bancorp in the 2nd quarter valued at about $701,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on USB shares. DA Davidson restated a “buy” rating and set a $65.00 target price on shares of U.S. Bancorp in a research note on Friday, April 17th. Weiss Ratings upgraded U.S. Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th. JPMorgan Chase & Co. decreased their target price on U.S. Bancorp from $58.00 to $57.50 and set an “underweight” rating for the company in a research note on Thursday, April 30th. Piper Sandler restated a “buy” rating on shares of U.S. Bancorp in a research note on Thursday, February 26th. Finally, Morgan Stanley set a $64.00 target price on U.S. Bancorp in a research note on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $61.29.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 40,000 shares of U.S. Bancorp stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the transaction, the insider owned 207,251 shares of the company’s stock, valued at $11,813,307. The trade was a 16.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Venkatachari Dilip sold 34,522 shares of U.S. Bancorp stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total value of $1,916,661.44. Following the transaction, the executive vice president directly owned 51,292 shares in the company, valued at approximately $2,847,731.84. This trade represents a 40.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.21% of the company’s stock.

U.S. Bancorp Price Performance

USB stock opened at $57.78 on Tuesday. The business has a 50 day moving average price of $55.34 and a 200 day moving average price of $54.64. The stock has a market cap of $89.63 billion, a price-to-earnings ratio of 12.11, a PEG ratio of 1.07 and a beta of 0.97. U.S. Bancorp has a fifty-two week low of $42.55 and a fifty-two week high of $61.19. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.03.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Thursday, April 16th. The financial services provider reported $1.18 EPS for the quarter, topping the consensus estimate of $1.14 by $0.04. The company had revenue of $7.32 billion for the quarter, compared to analyst estimates of $7.27 billion. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.The firm’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.03 earnings per share. Equities research analysts anticipate that U.S. Bancorp will post 5.07 earnings per share for the current fiscal year.

U.S. Bancorp Company 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.