Keudell Morrison Wealth Management Invests $2.86 Million in U.S. Bancorp $USB

Keudell Morrison Wealth Management acquired a new position in U.S. Bancorp (NYSE:USB) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 53,527 shares of the financial services provider’s stock, valued at approximately $2,856,000.

Other hedge funds also recently made changes to their positions in the company. Ignite Planners LLC increased its position in shares of U.S. Bancorp by 48.9% in the fourth quarter. Ignite Planners LLC now owns 18,183 shares of the financial services provider’s stock worth $1,020,000 after acquiring an additional 5,971 shares in the last quarter. Axxcess Wealth Management LLC increased its position in shares of U.S. Bancorp by 408.7% in the fourth quarter. Axxcess Wealth Management LLC now owns 22,020 shares of the financial services provider’s stock worth $1,175,000 after acquiring an additional 17,691 shares in the last quarter. Global Retirement Partners LLC increased its position in shares of U.S. Bancorp by 46.4% in the fourth quarter. Global Retirement Partners LLC now owns 61,782 shares of the financial services provider’s stock worth $3,297,000 after acquiring an additional 19,582 shares in the last quarter. Mach 1 Financial Group LLC purchased a new position in shares of U.S. Bancorp in the fourth quarter worth approximately $394,000. Finally, Prevail Innovative Wealth Advisors LLC increased its position in shares of U.S. Bancorp by 17.2% in the fourth quarter. Prevail Innovative Wealth Advisors LLC now owns 38,099 shares of the financial services provider’s stock worth $2,033,000 after acquiring an additional 5,583 shares in the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Stock Performance

USB stock opened at $54.59 on Friday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market cap of $84.75 billion, a P/E ratio of 11.45, a P/E/G ratio of 0.98 and a beta of 1.00. The firm has a 50 day simple moving average of $54.02 and a 200 day simple moving average of $53.63. U.S. Bancorp has a 52 week low of $42.21 and a 52 week high of $61.19.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results 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. The business had revenue of $7.32 billion during the quarter, compared to analysts’ expectations of $7.27 billion. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the company posted $1.03 earnings per share. Research analysts anticipate that U.S. Bancorp will post 5.09 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Tuesday, March 31st. U.S. Bancorp’s dividend payout ratio (DPR) is currently 43.61%.

Analyst Ratings Changes

USB has been the topic of several analyst reports. Morgan Stanley set a $64.00 target price on shares of U.S. Bancorp in a research report on Friday, April 17th. Jefferies Financial Group reissued a “hold” rating and issued a $60.00 target price on shares of U.S. Bancorp in a research report on Thursday, April 16th. Piper Sandler reissued a “buy” rating on shares of U.S. Bancorp in a research report on Thursday, February 26th. Evercore lifted their target price on shares of U.S. Bancorp from $60.00 to $65.00 and gave the stock an “in-line” rating in a research report on Thursday, February 5th. Finally, Royal Bank Of Canada lifted their target price on shares of U.S. Bancorp from $59.00 to $61.00 and gave the stock an “outperform” rating in a research report on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, U.S. Bancorp has an average rating of “Moderate Buy” and an average price target of $61.20.

Insider Activity at U.S. Bancorp

In related news, insider Jodi L. Richard sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the completion of the sale, the insider directly owned 207,251 shares in the company, valued at approximately $11,813,307. This trade represents a 16.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Venkatachari Dilip sold 34,522 shares of the firm’s stock in a transaction that occurred on 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 sale, the executive vice president owned 51,292 shares of the company’s stock, valued at approximately $2,847,731.84. This represents a 40.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.21% of the company’s stock.

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.