Montag A & Associates Inc. Buys 6,014 Shares of U.S. Bancorp $USB

Montag A & Associates Inc. lifted its stake in U.S. Bancorp (NYSE:USB) by 39.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,381 shares of the financial services provider’s stock after purchasing an additional 6,014 shares during the quarter. Montag A & Associates Inc.’s holdings in U.S. Bancorp were worth $978,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of USB. IMG Wealth Management Inc. purchased a new position in U.S. Bancorp in the second quarter worth about $25,000. Saudi Central Bank purchased a new stake in shares of U.S. Bancorp during the first quarter valued at approximately $26,000. Activest Wealth Management increased its position in shares of U.S. Bancorp by 846.5% during the second quarter. Activest Wealth Management now owns 814 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 728 shares in the last quarter. Groupe la Francaise purchased a new position in U.S. Bancorp in the 1st quarter worth approximately $41,000. Finally, Meeder Asset Management Inc. raised its holdings in U.S. Bancorp by 118.4% in the 1st quarter. Meeder Asset Management Inc. now owns 987 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 535 shares during the last quarter. Institutional investors own 77.60% of the company’s stock.

Wall Street Analysts Forecast Growth

USB has been the topic of several recent analyst reports. Evercore ISI increased their target price on U.S. Bancorp from $49.00 to $54.00 and gave the company an “in-line” rating in a research note on Tuesday, September 30th. Oppenheimer dropped their price objective on U.S. Bancorp from $67.00 to $66.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 23rd. Citigroup boosted their target price on U.S. Bancorp from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Truist Financial raised their price target on shares of U.S. Bancorp from $51.00 to $52.00 and gave the company a “hold” rating in a report on Friday, October 17th. Finally, Wall Street Zen upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $54.55.

U.S. Bancorp Trading Up 0.1%

U.S. Bancorp stock opened at $47.62 on Wednesday. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $53.98. The company has a market cap of $74.02 billion, a P/E ratio of 10.90, a P/E/G ratio of 1.25 and a beta of 1.10. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.10. The business has a 50-day simple moving average of $47.91 and a two-hundred day simple moving average of $45.99.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.11. The company had revenue of $7.34 billion for the quarter, compared to the consensus estimate of $7.17 billion. U.S. Bancorp had a net margin of 16.89% and a return on equity of 13.34%. The firm’s revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.03 earnings per share. Analysts predict that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend was Tuesday, September 30th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.50. U.S. Bancorp’s payout ratio is presently 47.60%.

Insider Buying and Selling at U.S. Bancorp

In other news, EVP James L. Chosy sold 26,909 shares of the company’s stock in a transaction on Monday, October 20th. The stock was sold at an average price of $46.86, for a total value of $1,260,955.74. Following the completion of the sale, the executive vice president directly owned 226,375 shares in the company, valued at $10,607,932.50. This represents a 10.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Andrew Cecere sold 140,445 shares of U.S. Bancorp stock in a transaction on Monday, October 20th. The shares were sold at an average price of $46.34, for a total value of $6,508,221.30. Following the transaction, the chairman owned 1,360,414 shares in the company, valued at $63,041,584.76. This trade represents a 9.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Profile

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.