Modera Wealth Management LLC Grows Stock Holdings in U.S. Bancorp (NYSE:USB)

Modera Wealth Management LLC raised its position in U.S. Bancorp (NYSE:USB) by 4.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,950 shares of the financial services provider’s stock after acquiring an additional 502 shares during the quarter. Modera Wealth Management LLC’s holdings in U.S. Bancorp were worth $572,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of USB. Winch Advisory Services LLC increased its position in shares of U.S. Bancorp by 1,088.9% in the fourth quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 490 shares during the period. FPC Investment Advisory Inc. purchased a new position in shares of U.S. Bancorp in the fourth quarter valued at about $28,000. Frazier Financial Advisors LLC increased its position in shares of 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 acquiring an additional 441 shares during the period. Global Wealth Strategies & Associates increased its position in shares of U.S. Bancorp by 70.8% in the fourth quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 250 shares during the period. Finally, Stonebridge Financial Group LLC purchased a new position in shares of U.S. Bancorp in the fourth quarter valued at about $30,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Trading Down 3.6 %

Shares of NYSE USB opened at $44.56 on Wednesday. The firm’s 50 day moving average price is $47.79 and its 200-day moving average price is $47.91. The company has a market cap of $69.51 billion, a PE ratio of 11.76, a P/E/G ratio of 1.73 and a beta of 1.04. U.S. Bancorp has a 52-week low of $37.81 and a 52-week high of $53.98. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.01. The firm had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $7 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The business’s revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.99 earnings per share. On average, equities research analysts expect that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $2.00 annualized dividend and a dividend yield of 4.49%. U.S. Bancorp’s dividend payout ratio is presently 52.77%.

Insider Transactions at U.S. Bancorp

In other news, insider Terrance R. Dolan sold 66,317 shares of the business’s 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 transaction, the insider now directly owns 209,482 shares of the company’s stock, valued at $9,837,274.72. The trade was 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 business’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $47.25, for a total transaction of $4,821,579.00. Following the transaction, the chief executive officer now directly owns 1,230,316 shares of the company’s stock, valued at $58,132,431. The trade was a 7.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 219,812 shares of company stock worth $10,385,665. Corporate insiders own 0.23% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on USB shares. Piper Sandler upgraded shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price objective on the stock in a research report on Monday, January 13th. Barclays lifted their target price on shares of U.S. Bancorp from $57.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Oppenheimer lifted their target price on shares of U.S. Bancorp from $62.00 to $63.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Morgan Stanley cut their target price 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. Finally, Wells Fargo & Company lifted their target price on shares of U.S. Bancorp from $60.00 to $62.00 and gave the company 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 issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $54.21.

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.