Angeles Wealth Management LLC Takes $459,000 Position in U.S. Bancorp $USB

Angeles Wealth Management LLC bought a new stake in U.S. Bancorp (NYSE:USB) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 10,147 shares of the financial services provider’s stock, valued at approximately $459,000.

Several other institutional investors also recently modified their holdings of USB. Saudi Central Bank bought a new position in shares of U.S. Bancorp in the first quarter valued at approximately $26,000. Westend Capital Management LLC bought a new position in shares of U.S. Bancorp in the first quarter valued at approximately $27,000. YANKCOM Partnership grew its holdings in shares of U.S. Bancorp by 59.4% in the first quarter. YANKCOM Partnership now owns 698 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 260 shares in the last quarter. Alpine Bank Wealth Management bought a new position in U.S. Bancorp during the first quarter valued at $30,000. Finally, Cornerstone Planning Group LLC grew its holdings in U.S. Bancorp by 118.0% during the first quarter. Cornerstone Planning Group LLC now owns 776 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 420 shares during the period. 77.60% of the stock is owned by institutional investors.

U.S. Bancorp Trading Up 0.0%

NYSE:USB opened at $45.66 on Friday. The company has a market cap of $71.06 billion, a P/E ratio of 10.45, a P/E/G ratio of 1.33 and a beta of 1.06. The stock’s fifty day moving average price is $47.93 and its two-hundred day moving average price is $44.81. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $53.98. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.82 and a quick ratio of 0.81.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Thursday, October 16th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.11. The firm had revenue of $7.34 billion for the quarter, compared to the consensus estimate of $7.17 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.The business’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.03 earnings per share. As a group, analysts expect 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. Investors of record on Tuesday, September 30th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.6%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.50. The ex-dividend date was Tuesday, September 30th. U.S. Bancorp’s dividend payout ratio (DPR) is 47.60%.

Insider Activity

In related news, EVP Souheil Badran sold 23,727 shares of the stock in a transaction 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 sale, the executive vice president owned 70,346 shares in the company, valued at approximately $3,259,833.64. This trade represents a 25.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

USB has been the subject of several research reports. Weiss Ratings reissued a “buy (b-)” rating on shares of U.S. Bancorp in a report on Wednesday, October 8th. Wall Street Zen raised 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 $51.00 to $52.00 and gave the company a “hold” rating in a report on Friday. Morgan Stanley reissued a “positive” rating on shares of U.S. Bancorp in a report on Friday. Finally, Raymond James Financial raised U.S. Bancorp from an “outperform” rating to a “strong-buy” rating and increased their price objective for the company from $51.00 to $57.00 in a report on Monday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $54.48.

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.