Tidal Investments LLC Acquires 14,065 Shares of U.S. Bancorp $USB

Tidal Investments LLC grew its holdings in U.S. Bancorp (NYSE:USB) by 14.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 111,909 shares of the financial services provider’s stock after buying an additional 14,065 shares during the quarter. Tidal Investments LLC’s holdings in U.S. Bancorp were worth $6,759,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Financial Life Planners bought a new stake in U.S. Bancorp during the 1st quarter worth about $27,000. Main Street Group LTD acquired a new stake in U.S. Bancorp in the 1st quarter valued at about $28,000. JPL Wealth Management LLC bought a new position in shares of U.S. Bancorp in the third quarter worth about $28,000. Archer Investment Corp bought a new position in shares of U.S. Bancorp in the second quarter worth about $29,000. Finally, Parvin Asset Management LLC acquired a new position in shares of U.S. Bancorp during the second quarter worth approximately $30,000. 77.60% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other U.S. Bancorp news, insider Stephen L. Philipson sold 36,906 shares of U.S. Bancorp 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 completion of the sale, the insider owned 74,969 shares of the company’s stock, valued at approximately $4,729,044.52. The trade was a 32.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gunjan Kedia sold 27,267 shares of the company’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $62.37, for a total transaction of $1,700,642.79. Following the sale, the chief executive officer owned 426,262 shares of the company’s stock, valued at $26,585,960.94. The trade was a 6.01% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is currently owned by insiders.

U.S. Bancorp Stock Up 0.7%

Shares of NYSE USB opened at $62.86 on Friday. The firm has a market capitalization of $97.94 billion, a PE ratio of 12.55, a price-to-earnings-growth ratio of 1.12 and a beta of 0.95. 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 1 year low of $45.02 and a 1 year high of $66.07. The firm’s 50-day moving average is $63.20 and its 200-day moving average is $58.02.

U.S. Bancorp (NYSE:USB) last issued its quarterly 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. The company had revenue of $7.69 billion during the quarter, compared to analysts’ expectations of $7.58 billion. U.S. Bancorp had a net margin of 18.49% and a return on equity of 13.69%. During the same quarter in the previous year, the company earned $1.11 EPS. Equities analysts expect that U.S. Bancorp will post 5.22 EPS for the current year.

U.S. Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be issued a dividend of $0.54 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $2.16 dividend on an annualized basis and a yield of 3.4%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.52. U.S. Bancorp’s dividend payout ratio (DPR) is presently 41.52%.

Wall Street Analyst Weigh In

Several research firms have recently commented on USB. Truist Financial increased their price target on shares of U.S. Bancorp from $66.00 to $69.00 and gave the company a “buy” rating in a research note on Friday, July 17th. Evercore upgraded shares of U.S. Bancorp from an “in-line” rating to an “outperform” rating and set a $72.00 price objective for the company in a research report on Monday, July 20th. Stephens upped their price objective on U.S. Bancorp from $63.00 to $67.00 and gave the stock an “equal weight” rating in a report on Friday, July 17th. Wells Fargo & Company increased their price objective on U.S. Bancorp from $66.00 to $69.00 and gave the company an “overweight” rating in a research report on Friday, July 17th. Finally, Morgan Stanley lifted their target price on U.S. Bancorp from $64.00 to $67.00 and gave the company an “equal weight” rating in a research note on Monday, June 29th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently 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 financial services holding company and the parent organization of U.S. Bank, a full-service commercial bank. The company provides deposit accounts, consumer and business loans, mortgages, credit and debit cards, payment services, and other banking products to individuals, businesses, institutions and government entities.

Through its wealth, corporate and commercial banking operations, U.S. Bancorp also offers investment management, trust and custody services, treasury management, capital markets support, equipment finance and other specialized financial solutions.