Wealth Alliance LLC Acquires 1,075 Shares of U.S. Bancorp $USB

Wealth Alliance LLC lifted its stake in U.S. Bancorp (NYSE:USB) by 3.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 30,915 shares of the financial services provider’s stock after purchasing an additional 1,075 shares during the period. Wealth Alliance LLC’s holdings in U.S. Bancorp were worth $1,399,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nuveen LLC bought a new stake in U.S. Bancorp during the first quarter worth about $138,183,000. Vanguard Group Inc. lifted its holdings in shares of U.S. Bancorp by 1.7% during the first quarter. Vanguard Group Inc. now owns 141,230,279 shares of the financial services provider’s stock valued at $5,962,742,000 after purchasing an additional 2,393,383 shares during the last quarter. American Century Companies Inc. boosted its position in shares of U.S. Bancorp by 17.4% in the 1st 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 in the last quarter. Nordea Investment Management AB grew its stake in shares of U.S. Bancorp by 192.0% in 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 during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in U.S. Bancorp by 10.5% during the first quarter. Goldman Sachs Group Inc. now owns 11,012,635 shares of the financial services provider’s stock valued at $464,953,000 after buying an additional 1,045,509 shares during the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on USB. Citigroup raised their price objective on shares of U.S. Bancorp from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, October 17th. Deutsche Bank Aktiengesellschaft raised U.S. Bancorp from a “hold” rating to a “buy” rating and set a $52.50 price target on the stock in a report on Thursday, October 23rd. TD Cowen lifted their price objective on U.S. Bancorp from $59.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, October 20th. Wall Street Zen raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Friday, July 18th. Finally, DA Davidson boosted their price objective on shares of U.S. Bancorp from $57.00 to $59.00 and gave the company a “buy” rating in a report on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $54.55.

Insider Buying and Selling

In other news, Chairman Andrew Cecere sold 140,445 shares of the business’s stock in a transaction on Monday, October 20th. The shares were sold at an average price of $46.34, for a total value of $6,508,221.30. Following the transaction, the chairman owned 1,360,414 shares of the company’s stock, valued at approximately $63,041,584.76. The trade was a 9.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP James L. Chosy sold 26,909 shares of the company’s stock in a transaction on Monday, October 20th. The stock was sold at an average price of $46.86, for a total transaction of $1,260,955.74. Following the transaction, the executive vice president owned 226,375 shares of the company’s stock, valued at approximately $10,607,932.50. This represents a 10.62% decrease in their position. The SEC filing for this sale provides additional information. 0.23% of the stock is currently owned by insiders.

U.S. Bancorp Stock Performance

Shares of USB opened at $47.62 on Wednesday. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $53.98. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.10. The stock has a market cap of $74.02 billion, a price-to-earnings ratio of 10.90, a PEG ratio of 1.25 and a beta of 1.10. The business has a 50-day simple moving average of $47.91 and a two-hundred day simple moving average of $45.99.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.22 EPS for the quarter, beating 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 net margin of 16.89% and a return on equity of 13.34%. The company’s revenue was up 6.8% on a year-over-year basis. During the same period last year, the firm earned $1.03 EPS. On average, analysts expect that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were paid a dividend of $0.52 per share. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $2.08 annualized dividend and a yield of 4.4%. U.S. Bancorp’s dividend payout ratio is 47.60%.

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.