Boomfish Wealth Group LLC Lowers Position in U.S. Bancorp (NYSE:USB)

Boomfish Wealth Group LLC trimmed its stake in shares of U.S. Bancorp (NYSE:USB) by 68.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,326 shares of the financial services provider’s stock after selling 20,216 shares during the period. Boomfish Wealth Group LLC’s holdings in U.S. Bancorp were worth $446,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. FMR LLC increased its stake in U.S. Bancorp by 32.7% in the 3rd quarter. FMR LLC now owns 63,913,931 shares of the financial services provider’s stock worth $2,922,784,000 after acquiring an additional 15,746,852 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of U.S. Bancorp by 153.0% in the 3rd quarter. Franklin Resources Inc. now owns 7,949,347 shares of the financial services provider’s stock worth $374,573,000 after buying an additional 4,807,662 shares during the last quarter. Los Angeles Capital Management LLC raised its position in shares of U.S. Bancorp by 723.7% during the 3rd quarter. Los Angeles Capital Management LLC now owns 3,211,555 shares of the financial services provider’s stock valued at $146,864,000 after buying an additional 2,821,642 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of U.S. Bancorp by 109.7% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,531,400 shares of the financial services provider’s stock valued at $161,491,000 after acquiring an additional 1,847,000 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in U.S. Bancorp by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 47,328,880 shares of the financial services provider’s stock valued at $2,164,350,000 after purchasing an additional 1,796,336 shares during the period. 77.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on USB. Piper Sandler upgraded U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price target on the stock in a report on Monday, January 13th. Barclays raised their target price on shares of U.S. Bancorp from $57.00 to $61.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Raymond James upgraded shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price target on the stock in a report on Thursday, December 19th. DA Davidson upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and boosted their target price for the company from $58.00 to $60.00 in a research report on Thursday, January 2nd. Finally, Oppenheimer increased their price target on U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, U.S. Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $54.21.

U.S. Bancorp Stock Performance

Shares of USB stock opened at $48.04 on Friday. U.S. Bancorp has a 12-month low of $37.81 and a 12-month high of $53.98. The business’s fifty day simple moving average is $49.87 and its 200-day simple moving average is $47.30. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. The company has a market cap of $74.94 billion, a PE ratio of 12.68, a PEG ratio of 1.77 and a beta of 1.05.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.01. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The company had revenue of $7.01 billion for the quarter, compared to analyst estimates of $7 billion. During the same period in the prior year, the company posted $0.99 EPS. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. Analysts expect that U.S. Bancorp will post 4.37 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $2.00 dividend on an annualized basis and a yield of 4.16%. U.S. Bancorp’s payout ratio is 52.77%.

About U.S. Bancorp

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.