NewEdge Wealth LLC Acquires 13,136 Shares of U.S. Bancorp $USB

NewEdge Wealth LLC raised its holdings in U.S. Bancorp (NYSE:USB) by 55.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 36,727 shares of the financial services provider’s stock after purchasing an additional 13,136 shares during the period. NewEdge Wealth LLC’s holdings in U.S. Bancorp were worth $1,960,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of USB. Guerra Advisors Inc acquired a new stake in shares of U.S. Bancorp in the 3rd quarter valued at $25,000. Financial Life Planners acquired a new stake in shares of U.S. Bancorp in the 3rd quarter valued at $25,000. Clayton Financial Group LLC acquired a new stake in shares of U.S. Bancorp in the 4th quarter valued at $25,000. JPL Wealth Management LLC acquired a new position in U.S. Bancorp during the 3rd quarter worth about $28,000. Finally, Binnacle Investments Inc lifted 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 buying an additional 273 shares in the last quarter. Institutional investors own 77.60% of the company’s stock.

Insider Activity at U.S. Bancorp

In other news, EVP Venkatachari Dilip sold 34,522 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total value 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 approximately $2,847,731.84. This represents a 40.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jodi L. Richard sold 40,000 shares of the stock in a transaction that occurred on 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 sale, the insider directly owned 207,251 shares of the company’s stock, valued at approximately $11,813,307. The trade was a 16.18% decrease in their position. The SEC filing for this sale provides additional information. 0.21% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Truist Financial reduced their price target on shares of U.S. Bancorp from $63.00 to $62.00 and set a “buy” rating on the stock in a research report on Friday, April 17th. Keefe, Bruyette & Woods upped their price target on shares of U.S. Bancorp from $58.00 to $59.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 21st. Argus upped their price target on shares of U.S. Bancorp from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Piper Sandler reiterated a “buy” rating on shares of U.S. Bancorp in a research report on Thursday, February 26th. Finally, Barclays upped their price target on shares of U.S. Bancorp from $65.00 to $67.00 and gave the stock an “overweight” rating in a research report on Friday, April 17th. One equities research 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 assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.20.

U.S. Bancorp Stock Performance

Shares of USB stock opened at $52.70 on Thursday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market cap of $81.81 billion, a PE ratio of 11.05, a price-to-earnings-growth ratio of 0.98 and a beta of 1.00. The stock has a 50-day moving average of $53.95 and a 200-day moving average of $53.36. U.S. Bancorp has a one year low of $42.21 and a one year high of $61.19.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.04. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.The business had revenue of $7.32 billion during the quarter, compared to analysts’ expectations of $7.27 billion. During the same period in the prior year, the business earned $1.03 EPS. U.S. Bancorp’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, sell-side analysts expect that U.S. Bancorp will post 5.09 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend was Tuesday, March 31st. U.S. Bancorp’s dividend payout ratio (DPR) 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.