U.S. Bancorp $USB Shares Bought by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC lifted its stake in shares of U.S. Bancorp (NYSE:USB) by 104.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,497 shares of the financial services provider’s stock after buying an additional 11,495 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in U.S. Bancorp were worth $1,099,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Cannell & Spears LLC boosted its stake in U.S. Bancorp by 1.0% in the third quarter. Cannell & Spears LLC now owns 22,309 shares of the financial services provider’s stock valued at $1,078,000 after acquiring an additional 214 shares in the last quarter. Parcion Private Wealth LLC boosted its position in shares of U.S. Bancorp by 0.4% in the 3rd quarter. Parcion Private Wealth LLC now owns 53,412 shares of the financial services provider’s stock valued at $2,581,000 after purchasing an additional 218 shares during the period. Modern Wealth Management LLC grew its stake in U.S. Bancorp by 1.0% during the 3rd quarter. Modern Wealth Management LLC now owns 22,493 shares of the financial services provider’s stock worth $1,087,000 after buying an additional 221 shares during the last quarter. Diversify Advisory Services LLC increased its position in U.S. Bancorp by 4.5% during the third quarter. Diversify Advisory Services LLC now owns 5,339 shares of the financial services provider’s stock worth $249,000 after buying an additional 232 shares during the period. Finally, Bogart Wealth LLC lifted its stake in U.S. Bancorp by 4.4% in the third quarter. Bogart Wealth LLC now owns 5,507 shares of the financial services provider’s stock valued at $266,000 after buying an additional 234 shares during the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on USB. Truist Financial upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and raised their target price for the stock from $61.00 to $66.00 in a research report on Thursday, February 26th. Keefe, Bruyette & Woods raised their price objective on shares of U.S. Bancorp from $58.00 to $59.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 21st. Weiss Ratings restated a “buy (b-)” rating on shares of U.S. Bancorp in a research note on Wednesday, January 21st. Oppenheimer upped their target price on shares of U.S. Bancorp from $75.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, January 21st. Finally, UBS Group reissued a “neutral” rating and set a $60.00 price target on shares of U.S. Bancorp in a report on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $60.02.

Insider Transactions at U.S. Bancorp

In related 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 value of $1,952,626.75. Following the completion of the sale, the insider owned 97,728 shares in the company, valued at $5,927,203.20. This trade represents a 24.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.21% of the stock is owned by corporate insiders.

U.S. Bancorp Stock Performance

NYSE:USB opened at $51.15 on Tuesday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a market cap of $79.40 billion, a price-to-earnings ratio of 11.07, a price-to-earnings-growth ratio of 0.91 and a beta of 1.04. The firm’s fifty day moving average price is $55.77 and its 200 day moving average price is $51.64. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $61.19.

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

U.S. Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Tuesday, March 31st. U.S. Bancorp’s dividend payout ratio is currently 45.02%.

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.