Wedmont Private Capital Boosts Stock Position in U.S. Bancorp (NYSE:USB)

Wedmont Private Capital grew its holdings in shares of U.S. Bancorp (NYSE:USB) by 19.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,913 shares of the financial services provider’s stock after buying an additional 3,790 shares during the period. Wedmont Private Capital’s holdings in U.S. Bancorp were worth $1,086,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. Global Wealth Strategies & Associates lifted its stake in U.S. Bancorp by 70.8% during the fourth 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. Redwood Wealth Management Group LLC acquired a new stake in U.S. Bancorp during the second quarter worth approximately $25,000. Frazier Financial Advisors LLC raised its holdings in U.S. Bancorp by 222.7% during the third quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 441 shares in the last quarter. Legacy Investment Solutions LLC purchased a new stake in shares of U.S. Bancorp during the 3rd quarter worth approximately $40,000. Finally, Northwest Bank & Trust Co boosted its holdings in shares of U.S. Bancorp by 87.4% in the 3rd quarter. Northwest Bank & Trust Co now owns 937 shares of the financial services provider’s stock valued at $43,000 after buying an additional 437 shares in the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

USB has been the subject of a number of research reports. Wells Fargo & Company boosted their price target on shares of U.S. Bancorp from $60.00 to $62.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Stephens boosted their target price on U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Royal Bank of Canada set a $53.00 price target on U.S. Bancorp in a research note on Thursday, October 17th. Raymond James upgraded U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price objective for the company in a research note on Thursday, December 19th. Finally, Truist Financial initiated coverage on shares of U.S. Bancorp in a research report on Tuesday, January 7th. They set a “hold” rating and a $54.00 target price on the stock. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $54.07.

Insiders Place Their Bets

In other news, insider Jodi L. Richard sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the sale, the insider now owns 129,790 shares of the company’s stock, valued at $6,363,603.70. The trade was a 16.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.23% of the stock is currently owned by company insiders.

U.S. Bancorp Stock Performance

Shares of USB stock opened at $48.38 on Tuesday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. The stock has a 50 day simple moving average of $50.22 and a 200-day simple moving average of $46.61. The company has a market cap of $75.47 billion, a price-to-earnings ratio of 14.80, a price-to-earnings-growth ratio of 3.01 and a beta of 1.05. U.S. Bancorp has a 12-month low of $37.81 and a 12-month high of $53.98.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.04. The firm had revenue of $6.86 billion during the quarter, compared to analysts’ expectations of $6.90 billion. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. U.S. Bancorp’s revenue was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.05 earnings per share. On average, equities analysts forecast that U.S. Bancorp will post 3.93 EPS for the current year.

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.13%. The ex-dividend date of this dividend is Tuesday, December 31st. U.S. Bancorp’s dividend payout ratio is currently 61.16%.

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.