Ritholtz Wealth Management Buys 8,469 Shares of U.S. Bancorp $USB

Ritholtz Wealth Management raised its stake in U.S. Bancorp (NYSE:USB) by 5.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 163,960 shares of the financial services provider’s stock after purchasing an additional 8,469 shares during the quarter. Ritholtz Wealth Management’s holdings in U.S. Bancorp were worth $8,528,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in USB. Financial Life Planners purchased a new position in shares of U.S. Bancorp in the third quarter worth $25,000. Clayton Financial Group LLC bought a new stake in U.S. Bancorp during the 4th quarter valued at $25,000. JPL Wealth Management LLC purchased a new stake in U.S. Bancorp during the 3rd quarter valued at $28,000. Binnacle Investments Inc boosted its position in U.S. Bancorp by 77.8% during the 3rd quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider’s stock valued at $30,000 after buying an additional 273 shares during the period. Finally, Rossby Financial LCC grew its holdings in U.S. Bancorp by 57.8% in the 4th quarter. Rossby Financial LCC now owns 579 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 212 shares during the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Wall Street Zen upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. DA Davidson reiterated a “buy” rating and set a $65.00 target price on shares of U.S. Bancorp in a report on Friday, April 17th. Barclays raised their target price on U.S. Bancorp from $65.00 to $67.00 and gave the stock an “overweight” rating in a research note on Friday, April 17th. Stephens began coverage on U.S. Bancorp in a report on Monday, June 15th. They set an “equal weight” rating and a $63.00 price target on the stock. Finally, Royal Bank Of Canada upped their price target on U.S. Bancorp from $59.00 to $61.00 and gave the company an “outperform” rating in a research report on Friday, April 17th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, U.S. Bancorp currently has an average rating of “Moderate Buy” and an average price target of $61.29.

Insider Transactions at U.S. Bancorp

In related news, insider Jodi L. Richard sold 40,000 shares of the stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total value of $2,280,000.00. Following the completion of the transaction, the insider directly owned 207,251 shares of the company’s stock, valued at $11,813,307. This represents a 16.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Venkatachari Dilip sold 34,522 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the completion of the sale, the executive vice president owned 51,292 shares of the company’s stock, valued at $2,847,731.84. This trade represents a 40.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is owned by corporate insiders.

U.S. Bancorp Stock Up 0.1%

Shares of U.S. Bancorp stock opened at $60.12 on Thursday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.03. The company’s fifty day simple moving average is $55.90 and its two-hundred day simple moving average is $55.09. The company has a market cap of $93.25 billion, a P/E ratio of 12.60, a PEG ratio of 1.04 and a beta of 0.97. U.S. Bancorp has a 12-month low of $43.46 and a 12-month high of $61.19.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Thursday, April 16th. The financial services provider reported $1.18 EPS for the quarter, topping the consensus estimate of $1.14 by $0.04. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. The business had revenue of $7.32 billion during the quarter, compared to analyst estimates of $7.27 billion. During the same period in the prior year, the business earned $1.03 EPS. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. Research analysts anticipate that U.S. Bancorp will post 5.08 EPS for the current year.

U.S. Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a dividend of $0.52 per share. The ex-dividend date is Tuesday, June 30th. This represents a $2.08 annualized dividend and a dividend yield of 3.5%. U.S. Bancorp’s payout ratio is currently 43.61%.

About U.S. Bancorp

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.