U.S. Bancorp $USB Stock Position Boosted by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC boosted its stake in U.S. Bancorp (NYSE:USB) by 10.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 77,258 shares of the financial services provider’s stock after buying an additional 7,188 shares during the period. Kovitz Investment Group Partners LLC’s holdings in U.S. Bancorp were worth $3,262,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Westend Capital Management LLC acquired a new stake in U.S. Bancorp in the 1st quarter valued at about $27,000. REAP Financial Group LLC lifted its holdings in U.S. Bancorp by 86.1% in the 4th quarter. REAP Financial Group LLC now owns 642 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 297 shares during the last quarter. YANKCOM Partnership lifted its holdings in U.S. Bancorp by 59.4% in the 1st quarter. YANKCOM Partnership now owns 698 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 260 shares during the last quarter. Alpine Bank Wealth Management acquired a new stake in U.S. Bancorp in the 1st quarter valued at about $30,000. Finally, Rakuten Securities Inc. lifted its holdings in U.S. Bancorp by 1,212.1% in the 1st quarter. Rakuten Securities Inc. now owns 761 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 703 shares during the last quarter. Institutional investors own 77.60% of the company’s stock.

Insider Buying and Selling

In related news, EVP Souheil Badran sold 23,727 shares of the stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $46.34, for a total value of $1,099,509.18. Following the transaction, the executive vice president owned 70,346 shares in the company, valued at approximately $3,259,833.64. This represents a 25.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on USB. Wall Street Zen raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Friday, July 18th. Raymond James Financial raised shares of U.S. Bancorp from an “outperform” rating to a “strong-buy” rating and upped their price objective for the company from $51.00 to $57.00 in a research note on Monday, July 7th. Morgan Stanley upped their price objective on shares of U.S. Bancorp from $51.00 to $52.00 and gave the company an “overweight” rating in a research note on Friday, July 18th. Citigroup upped their price objective on shares of U.S. Bancorp from $55.00 to $59.00 and gave the company a “buy” rating in a research note on Wednesday, July 2nd. Finally, Truist Financial upped their price objective on shares of U.S. Bancorp from $48.00 to $50.00 and gave the company a “hold” rating in a research note on Wednesday, July 9th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $52.55.

U.S. Bancorp Price Performance

Shares of USB opened at $45.96 on Monday. The company has a market capitalization of $71.52 billion, a price-to-earnings ratio of 11.00, a P/E/G ratio of 1.44 and a beta of 1.01. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two week high of $53.98. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.81 and a quick ratio of 0.81. The business’s 50-day moving average is $45.46 and its 200-day moving average is $43.80.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Thursday, July 17th. The financial services provider reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.04. U.S. Bancorp had a return on equity of 13.08% and a net margin of 16.30%. The firm had revenue of $7.06 billion for the quarter, compared to the consensus estimate of $7.07 billion. During the same quarter in the prior year, the company posted $0.98 earnings per share. The firm’s revenue was up 2.0% on a year-over-year basis. Equities research analysts expect that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a $0.50 dividend. The ex-dividend date was Monday, June 30th. This represents a $2.00 dividend on an annualized basis and a yield of 4.4%. U.S. Bancorp’s dividend payout ratio is currently 47.85%.

U.S. Bancorp 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.