Iams Wealth Management LLC Purchases 6,473 Shares of U.S. Bancorp (NYSE:USB)

Iams Wealth Management LLC increased its position in U.S. Bancorp (NYSE:USB) by 18.7% during the first quarter, HoldingsChannel.com reports. The firm owned 41,041 shares of the financial services provider’s stock after acquiring an additional 6,473 shares during the quarter. Iams Wealth Management LLC’s holdings in U.S. Bancorp were worth $1,733,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in U.S. Bancorp by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 138,836,896 shares of the financial services provider’s stock worth $6,640,569,000 after buying an additional 1,079,056 shares during the last quarter. FMR LLC increased its position in shares of U.S. Bancorp by 5.0% during the 4th quarter. FMR LLC now owns 67,125,746 shares of the financial services provider’s stock valued at $3,210,624,000 after purchasing an additional 3,211,815 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of U.S. Bancorp by 5.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 49,789,725 shares of the financial services provider’s stock valued at $2,381,443,000 after purchasing an additional 2,460,845 shares during the last quarter. Geode Capital Management LLC increased its position in shares of U.S. Bancorp by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 33,937,360 shares of the financial services provider’s stock valued at $1,618,948,000 after purchasing an additional 850,763 shares during the last quarter. Finally, Amundi increased its position in shares of U.S. Bancorp by 7.4% during the 4th quarter. Amundi now owns 19,485,615 shares of the financial services provider’s stock valued at $945,268,000 after purchasing an additional 1,341,407 shares during the last quarter. Institutional investors own 77.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Oppenheimer boosted their price objective on U.S. Bancorp from $57.00 to $59.00 and gave the company an “outperform” rating in a research note on Monday, April 28th. Barclays cut their price objective on U.S. Bancorp from $61.00 to $56.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Bank of America dropped their price target on U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating for the company in a research note on Monday, March 17th. Wolfe Research upgraded U.S. Bancorp from a “peer perform” rating to an “outperform” rating and set a $49.00 price target for the company in a research note on Thursday, April 3rd. Finally, TD Cowen assumed coverage on U.S. Bancorp in a research note on Thursday, May 15th. They issued a “buy” rating and a $60.00 price target for the company. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $50.89.

U.S. Bancorp Trading Up 1.8%

Shares of NYSE:USB opened at $44.39 on Wednesday. The company has a market cap of $69.16 billion, a P/E ratio of 11.71, a P/E/G ratio of 1.73 and a beta of 0.97. The stock’s 50-day moving average is $41.03 and its 200-day moving average is $45.50. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $53.98. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81.

U.S. Bancorp (NYSE:USB) last released its 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. The business had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $6.92 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. During the same period last year, the business earned $0.78 earnings per share. Equities research analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.51%. The ex-dividend date was Monday, March 31st. U.S. Bancorp’s dividend payout ratio (DPR) is 49.50%.

Insider Buying and Selling

In other news, Director Aleem Gillani purchased 5,000 shares of U.S. Bancorp stock in a transaction that occurred on Monday, April 21st. The shares were acquired at an average price of $37.32 per share, for a total transaction of $186,600.00. Following the transaction, the director now owns 15,000 shares of the company’s stock, valued at approximately $559,800. The trade was a 50.00% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.23% of the company’s stock.

U.S. Bancorp Company Profile

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.