TCV Trust & Wealth Management Inc. Boosts Holdings in U.S. Bancorp (NYSE:USB)

TCV Trust & Wealth Management Inc. increased its position in shares of U.S. Bancorp (NYSE:USB) by 0.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 224,832 shares of the financial services provider’s stock after buying an additional 343 shares during the quarter. TCV Trust & Wealth Management Inc.’s holdings in U.S. Bancorp were worth $10,754,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in USB. Winch Advisory Services LLC lifted its stake in shares of U.S. Bancorp by 1,088.9% in the 4th quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 490 shares during the last quarter. Global Wealth Strategies & Associates increased its position in shares of U.S. Bancorp by 70.8% during the 4th quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 250 shares during the last quarter. Stonebridge Financial Group LLC purchased a new stake in U.S. Bancorp in the 4th quarter valued at about $30,000. Frazier Financial Advisors LLC lifted its position in U.S. Bancorp by 222.7% in the third quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock valued at $29,000 after buying an additional 441 shares during the last quarter. Finally, Global Trust Asset Management LLC purchased a new position in U.S. Bancorp during the fourth quarter worth about $33,000. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley reduced their price target on shares of U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Citigroup upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and lifted their target price for the company from $49.00 to $65.00 in a report on Monday, November 25th. Truist Financial began coverage on U.S. Bancorp in a research note on Tuesday, January 7th. They set a “hold” rating and a $54.00 price target on the stock. Stephens lifted their price objective on U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Finally, Wells Fargo & Company increased their target price on U.S. Bancorp from $60.00 to $62.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.21.

U.S. Bancorp Stock Performance

Shares of USB stock opened at $47.62 on Wednesday. The company has a market cap of $74.28 billion, a P/E ratio of 12.56, a PEG ratio of 1.77 and a beta of 1.04. The business has a 50 day moving average of $48.97 and a two-hundred day moving average of $47.48. U.S. Bancorp has a 52 week low of $37.81 and a 52 week high of $53.98. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The business had revenue of $7.01 billion for the quarter, compared to analysts’ expectations of $7 billion. During the same quarter last year, the company earned $0.99 EPS. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date of this dividend was Tuesday, December 31st. U.S. Bancorp’s dividend payout ratio is currently 52.77%.

Insider Activity

In related news, insider Terrance R. Dolan sold 66,317 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $46.96, for a total transaction of $3,114,246.32. Following the completion of the sale, the insider now directly owns 209,482 shares of the company’s stock, valued at $9,837,274.72. This represents a 24.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew Cecere sold 102,044 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $47.25, for a total value of $4,821,579.00. Following the sale, the chief executive officer now owns 1,230,316 shares of the company’s stock, valued at $58,132,431. This trade represents a 7.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 219,812 shares of company stock worth $10,385,665 over the last three months. 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.