U.S. Bancorp $USB Shares Bought by Ritholtz Wealth Management

Ritholtz Wealth Management grew its stake in shares of U.S. Bancorp (NYSE:USB) by 35.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 77,989 shares of the financial services provider’s stock after purchasing an additional 20,527 shares during the period. Ritholtz Wealth Management’s holdings in U.S. Bancorp were worth $3,529,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of USB. Saudi Central Bank purchased a new stake in U.S. Bancorp during the first quarter valued at about $26,000. Westend Capital Management LLC purchased a new stake in U.S. Bancorp during the first quarter valued at about $27,000. YANKCOM Partnership lifted its stake in U.S. Bancorp by 59.4% during the first quarter. YANKCOM Partnership now owns 698 shares of the financial services provider’s stock valued at $29,000 after buying an additional 260 shares in the last quarter. Alpine Bank Wealth Management purchased a new stake in shares of U.S. Bancorp in the 1st quarter valued at approximately $30,000. Finally, Rakuten Securities Inc. lifted its position in shares of 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 in the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Trading Down 1.4%

NYSE:USB opened at $46.43 on Thursday. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $53.98. The firm has a market cap of $72.26 billion, a price-to-earnings ratio of 11.11, a P/E/G ratio of 1.38 and a beta of 1.06. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.16. The company’s 50 day moving average is $47.88 and its 200-day moving average is $44.76.

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

U.S. Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were paid a $0.52 dividend. The ex-dividend date was Tuesday, September 30th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.5%. U.S. Bancorp’s dividend payout ratio is presently 49.76%.

Wall Street Analyst Weigh In

USB has been the subject of a number of research analyst reports. Wall Street Zen upgraded U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Friday, July 18th. Truist Financial increased their price objective on U.S. Bancorp from $49.00 to $51.00 and gave the stock a “hold” rating in a research note on Wednesday, September 17th. DA Davidson increased their price objective on U.S. Bancorp from $49.00 to $52.00 and gave the stock a “buy” rating in a research note on Monday, July 21st. UBS Group increased their price target on shares of U.S. Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 7th. Finally, Raymond James Financial upgraded shares of U.S. Bancorp from an “outperform” rating to a “strong-buy” rating and increased their target price for the stock from $51.00 to $57.00 in a research report on Monday, July 7th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $53.11.

Insider Activity at U.S. Bancorp

In other news, EVP Souheil Badran sold 23,727 shares of U.S. Bancorp stock in a transaction dated 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 directly owned 70,346 shares in the company, valued at approximately $3,259,833.64. The trade was a 25.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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.