U.S. Bancorp $USB Stake Boosted by Western Wealth Management LLC

Western Wealth Management LLC boosted its stake in shares of U.S. Bancorp (NYSE:USB) by 26.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 47,219 shares of the financial services provider’s stock after buying an additional 9,998 shares during the period. Western Wealth Management LLC’s holdings in U.S. Bancorp were worth $2,456,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Clayton Financial Group LLC acquired a new stake in shares of U.S. Bancorp during the fourth quarter valued at approximately $25,000. Financial Life Planners acquired a new position in U.S. Bancorp in the 1st quarter worth approximately $27,000. Main Street Group LTD acquired a new position in U.S. Bancorp in the 1st quarter worth approximately $28,000. JPL Wealth Management LLC purchased a new position in U.S. Bancorp during the 3rd quarter worth approximately $28,000. Finally, Binnacle Investments Inc grew 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 worth $30,000 after purchasing an additional 273 shares in the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Price Performance

NYSE USB opened at $63.00 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $97.72 billion, a PE ratio of 12.58, a price-to-earnings-growth ratio of 1.03 and a beta of 0.96. The company has a 50 day moving average price of $59.82 and a two-hundred day moving average price of $56.70. U.S. Bancorp has a 12-month low of $43.46 and a 12-month high of $64.84.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Thursday, July 16th. The financial services provider reported $1.35 EPS for the quarter, topping the consensus estimate of $1.28 by $0.07. U.S. Bancorp had a net margin of 18.49% and a return on equity of 13.69%. The company had revenue of $7.71 billion during the quarter, compared to the consensus estimate of $7.58 billion. During the same period in the previous year, the firm posted $1.11 earnings per share. As a group, equities analysts predict that U.S. Bancorp will post 5.22 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a $0.52 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $2.08 dividend on an annualized basis and a yield of 3.3%. U.S. Bancorp’s dividend payout ratio is currently 41.52%.

Insiders Place Their Bets

In other U.S. Bancorp news, insider Stephen L. Philipson sold 36,906 shares of the stock in a transaction on Monday, July 20th. The shares were sold at an average price of $63.08, for a total transaction of $2,328,030.48. Following the transaction, the insider directly owned 74,969 shares of the company’s stock, valued at $4,729,044.52. This represents a 32.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Venkatachari Dilip sold 34,522 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total value of $1,916,661.44. Following the transaction, the executive vice president owned 51,292 shares in the company, valued at approximately $2,847,731.84. This trade represents a 40.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on USB. Jefferies Financial Group raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating and boosted their target price for the company from $60.00 to $75.00 in a research note on Monday, July 6th. Truist Financial raised their target price on U.S. Bancorp from $66.00 to $69.00 and gave the stock a “buy” rating in a research report on Friday, July 17th. JPMorgan Chase & Co. lifted their price target on U.S. Bancorp from $67.50 to $69.00 and gave the company a “neutral” rating in a report on Wednesday. Stephens upped their price target on U.S. Bancorp from $63.00 to $67.00 and gave the company an “equal weight” rating in a research report on Friday, July 17th. Finally, Keefe, Bruyette & Woods increased their price objective on U.S. Bancorp from $63.00 to $66.00 and gave the stock a “market perform” rating in a research note on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $67.06.

U.S. Bancorp Profile

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.