LMG Wealth Partners LLC Grows Holdings in U.S. Bancorp $USB

LMG Wealth Partners LLC grew its holdings in U.S. Bancorp (NYSE:USB) by 2.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 130,813 shares of the financial services provider’s stock after purchasing an additional 2,979 shares during the period. U.S. Bancorp comprises approximately 1.2% of LMG Wealth Partners LLC’s holdings, making the stock its 27th largest holding. LMG Wealth Partners LLC’s holdings in U.S. Bancorp were worth $5,919,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of USB. Nuveen LLC purchased a new stake in U.S. Bancorp in the first quarter worth $138,183,000. Vanguard Group Inc. increased its stake in U.S. Bancorp by 1.7% in the first quarter. Vanguard Group Inc. now owns 141,230,279 shares of the financial services provider’s stock worth $5,962,742,000 after purchasing an additional 2,393,383 shares during the period. American Century Companies Inc. increased its stake in U.S. Bancorp by 17.4% in the first quarter. American Century Companies Inc. now owns 10,070,174 shares of the financial services provider’s stock worth $425,163,000 after purchasing an additional 1,493,318 shares during the period. Nordea Investment Management AB grew its position in shares of U.S. Bancorp by 192.0% during the 2nd quarter. Nordea Investment Management AB now owns 1,994,993 shares of the financial services provider’s stock worth $90,752,000 after buying an additional 1,311,746 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of U.S. Bancorp by 10.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 11,012,635 shares of the financial services provider’s stock worth $464,953,000 after buying an additional 1,045,509 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Price Performance

Shares of USB stock opened at $45.66 on Monday. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $53.98. The stock’s 50-day moving average is $47.93 and its 200 day moving average is $44.86. The company has a market cap of $71.06 billion, a P/E ratio of 10.45, a PEG ratio of 1.31 and a beta of 1.06. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.82 and a quick ratio of 0.82.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.11. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.The company had revenue of $7.34 billion for the quarter, compared to the consensus estimate of $7.17 billion. During the same quarter last year, the company earned $1.03 earnings per share. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. Research analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were issued a $0.52 dividend. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend was Tuesday, September 30th. U.S. Bancorp’s dividend payout ratio is 47.60%.

Wall Street Analyst Weigh In

USB has been the topic of a number of recent research reports. DA Davidson increased their price target on U.S. Bancorp from $57.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday. UBS Group increased their price target on U.S. Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 7th. Raymond James Financial raised U.S. Bancorp from an “outperform” rating to a “strong-buy” rating and increased their price target for the stock from $51.00 to $57.00 in a research report on Monday, July 7th. Bank of America increased their price target on U.S. Bancorp from $54.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Wall Street Zen raised U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $54.48.

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.