HORAN Wealth LLC Acquires 36,904 Shares of U.S. Bancorp $USB

HORAN Wealth LLC lifted its holdings in U.S. Bancorp (NYSE:USB) by 100.5% in the 1st quarter, Holdings Channel.com reports. The firm owned 73,608 shares of the financial services provider’s stock after buying an additional 36,904 shares during the quarter. HORAN Wealth LLC’s holdings in U.S. Bancorp were worth $3,847,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of USB. Inceptionr LLC grew its holdings in shares of U.S. Bancorp by 424.4% during the 4th quarter. Inceptionr LLC now owns 27,614 shares of the financial services provider’s stock valued at $1,473,000 after purchasing an additional 22,348 shares during the last quarter. Nordea Investment Management AB boosted its position in U.S. Bancorp by 15.3% in the fourth quarter. Nordea Investment Management AB now owns 2,690,174 shares of the financial services provider’s stock valued at $144,462,000 after buying an additional 357,300 shares in the last quarter. Savvy Advisors Inc. boosted its position in U.S. Bancorp by 244.4% in the fourth quarter. Savvy Advisors Inc. now owns 30,872 shares of the financial services provider’s stock valued at $1,647,000 after buying an additional 21,907 shares in the last quarter. Cardinal Capital Management Inc. grew its stake in shares of U.S. Bancorp by 17.3% during the fourth quarter. Cardinal Capital Management Inc. now owns 285,196 shares of the financial services provider’s stock worth $15,218,000 after buying an additional 42,095 shares during the last quarter. Finally, Keudell Morrison Wealth Management acquired a new position in shares of U.S. Bancorp during the fourth quarter worth $2,856,000. 77.60% of the stock is owned by institutional investors.

Key U.S. Bancorp News

Here are the key news stories impacting U.S. Bancorp this week:

• Positive Sentiment: Evercore upgraded U.S. Bancorp (USB) from “in-line” to “outperform” and set a $72 price target, implying meaningful upside from current levels. Read More
• Positive Sentiment: JPMorgan upgraded U.S. Bancorp (USB) from “underweight” to “neutral” and raised its target to $67.50, citing improving prospects tied to growth in fee revenue. Read More
• Positive Sentiment: Several recent articles highlighted U.S. Bancorp (USB) as a strong dividend stock, reinforcing the bank’s appeal to income-focused investors. Article
• Neutral Sentiment: Additional coverage compared USB with other finance stocks this year, but did not indicate a major new fundamental catalyst. Article

Insider Buying and Selling

In related news, 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 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.21% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Raymond James Financial began coverage on U.S. Bancorp in a research report on Wednesday, July 8th. They set a “strong-buy” rating and a $72.00 price objective on the stock. UBS Group increased their target price on U.S. Bancorp from $58.00 to $66.00 and gave the company a “neutral” rating in a research report on Tuesday, July 7th. Truist Financial lifted their price target on U.S. Bancorp from $66.00 to $69.00 and gave the company a “buy” rating in a research note on Friday. JPMorgan Chase & Co. upgraded U.S. Bancorp from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $65.00 to $67.50 in a report on Monday. Finally, Keefe, Bruyette & Woods upped their price objective on U.S. Bancorp from $63.00 to $66.00 and gave the company a “market perform” rating in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $67.00.

U.S. Bancorp Trading Up 0.0%

NYSE USB opened at $63.15 on Tuesday. The firm has a market capitalization of $97.95 billion, a PE ratio of 12.60, a price-to-earnings-growth ratio of 1.07 and a beta of 0.96. The business’s 50-day moving average price is $58.06 and its two-hundred day moving average price is $56.15. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.96. 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 issued its quarterly earnings data on Thursday, July 16th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.07. The company had revenue of $7.71 billion during the quarter, compared to the consensus estimate of $7.58 billion. U.S. Bancorp had a return on equity of 13.69% and a net margin of 18.49%.During the same period last year, the company earned $1.11 earnings per share. On average, analysts expect that U.S. Bancorp will post 5.18 EPS for the current year.

U.S. Bancorp Dividend Announcement

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

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.