Kovitz Investment Group Partners LLC Has $3.35 Million Stock Holdings in U.S. Bancorp (NYSE:USB)

Kovitz Investment Group Partners LLC grew its position in U.S. Bancorp (NYSE:USB) by 9.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 70,070 shares of the financial services provider’s stock after purchasing an additional 5,877 shares during the period. Kovitz Investment Group Partners LLC’s holdings in U.S. Bancorp were worth $3,351,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Stonebridge Capital Advisors LLC raised its holdings in U.S. Bancorp by 0.4% during the 4th quarter. Stonebridge Capital Advisors LLC now owns 303,383 shares of the financial services provider’s stock worth $14,511,000 after purchasing an additional 1,237 shares during the last quarter. Integrated Wealth Concepts LLC raised its stake in shares of U.S. Bancorp by 183.1% during the fourth quarter. Integrated Wealth Concepts LLC now owns 90,367 shares of the financial services provider’s stock worth $4,322,000 after buying an additional 58,450 shares during the last quarter. Burling Wealth Partners LLC acquired a new position in U.S. Bancorp in the fourth quarter valued at approximately $212,000. CSM Advisors LLC boosted its stake in U.S. Bancorp by 2.6% in the fourth quarter. CSM Advisors LLC now owns 47,155 shares of the financial services provider’s stock valued at $2,255,000 after acquiring an additional 1,210 shares during the last quarter. Finally, MGO One Seven LLC raised its position in shares of U.S. Bancorp by 7.4% during the 4th quarter. MGO One Seven LLC now owns 70,562 shares of the financial services provider’s stock valued at $3,375,000 after acquiring an additional 4,847 shares during the last quarter. Institutional investors own 77.60% of the company’s stock.

Analyst Ratings Changes

USB has been the topic of several recent research reports. Morgan Stanley reduced their price target on U.S. Bancorp from $51.00 to $50.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. Wells Fargo & Company reduced their target price on U.S. Bancorp from $56.00 to $50.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Keefe, Bruyette & Woods lowered their price target on U.S. Bancorp from $54.00 to $49.00 and set a “market perform” rating for the company in a research note on Thursday, April 17th. Truist Financial cut their price target on shares of U.S. Bancorp from $51.00 to $48.00 and set a “hold” rating on the stock in a research report on Thursday, April 17th. Finally, Wolfe Research raised shares of U.S. Bancorp from a “peer perform” rating to an “outperform” rating and set a $49.00 target price for the company in a research note on Thursday, April 3rd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $50.66.

Insiders Place Their Bets

In other news, insider Terrance R. Dolan sold 66,317 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $46.96, for a total transaction of $3,114,246.32. Following the completion of the sale, the insider now owns 209,482 shares in the company, valued at $9,837,274.72. The trade was a 24.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP James L. Chosy sold 21,451 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $47.65, for a total value of $1,022,140.15. Following the completion of the transaction, the executive vice president now directly owns 198,127 shares in the company, valued at $9,440,751.55. The trade was a 9.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 219,812 shares of company stock valued at $10,385,665 over the last ninety days. 0.23% of the stock is currently owned by company insiders.

U.S. Bancorp Stock Down 0.4 %

U.S. Bancorp stock opened at $39.90 on Monday. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.80. The company’s 50-day moving average is $41.71 and its 200-day moving average is $46.62. The firm has a market capitalization of $62.16 billion, a PE ratio of 10.53, a P/E/G ratio of 1.73 and a beta of 0.91. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two week high of $53.98.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.06. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The firm had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $6.92 billion. During the same quarter in the previous year, the business earned $0.78 earnings per share. Sell-side analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 5.01%. The ex-dividend date of this dividend was Monday, March 31st. U.S. Bancorp’s dividend payout ratio is 49.50%.

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.