IFP Advisors Inc Grows Holdings in U.S. Bancorp $USB

IFP Advisors Inc increased its position in U.S. Bancorp (NYSE:USB) by 99.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,715 shares of the financial services provider’s stock after acquiring an additional 15,822 shares during the quarter. IFP Advisors Inc’s holdings in U.S. Bancorp were worth $1,692,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Banque Cantonale Vaudoise boosted its stake in U.S. Bancorp by 68.0% in the 4th quarter. Banque Cantonale Vaudoise now owns 66,768 shares of the financial services provider’s stock worth $3,563,000 after purchasing an additional 27,033 shares during the period. Cullen Frost Bankers Inc. boosted its stake in U.S. Bancorp by 2.5% in the 4th quarter. Cullen Frost Bankers Inc. now owns 42,551 shares of the financial services provider’s stock worth $2,271,000 after purchasing an additional 1,047 shares during the period. Jag Capital Management LLC boosted its stake in U.S. Bancorp by 24.0% in the 4th quarter. Jag Capital Management LLC now owns 13,948 shares of the financial services provider’s stock worth $744,000 after purchasing an additional 2,698 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in U.S. Bancorp in the 4th quarter worth approximately $3,100,000. Finally, ProShare Advisors LLC boosted its stake in U.S. Bancorp by 4.9% in the 4th quarter. ProShare Advisors LLC now owns 327,678 shares of the financial services provider’s stock worth $17,485,000 after purchasing an additional 15,380 shares during the period. 77.60% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Jodi L. Richard sold 40,000 shares of the 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 completion of the transaction, the insider directly owned 207,251 shares in the company, valued at approximately $11,813,307. This represents a 16.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Venkatachari Dilip sold 34,522 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total value of $1,916,661.44. Following the transaction, the executive vice president owned 51,292 shares of the company’s stock, valued at $2,847,731.84. This represents a 40.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.21% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

USB has been the subject of several recent analyst reports. Truist Financial dropped their price target on U.S. Bancorp from $63.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, April 17th. Jefferies Financial Group restated a “hold” rating and issued a $60.00 price target on shares of U.S. Bancorp in a research note on Thursday, April 16th. Royal Bank Of Canada upped their price target on U.S. Bancorp from $59.00 to $61.00 and gave the stock an “outperform” rating 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. Finally, UBS Group restated a “neutral” rating and issued a $60.00 price target on shares of U.S. Bancorp in a research note on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.20.

U.S. Bancorp Stock Up 0.5%

NYSE USB opened at $54.85 on Friday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market capitalization of $85.14 billion, a P/E ratio of 11.50, a P/E/G ratio of 0.98 and a beta of 1.00. U.S. Bancorp has a one year low of $42.21 and a one year high of $61.19. The stock has a 50 day moving average price of $54.07 and a 200-day moving average price of $53.64.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Thursday, April 16th. The financial services provider reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.04. The firm had revenue of $7.32 billion during the quarter, compared to the consensus estimate of $7.27 billion. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.03 EPS. As a group, equities analysts predict that U.S. Bancorp will post 5.09 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Tuesday, March 31st. U.S. Bancorp’s dividend payout ratio is currently 43.61%.

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.