Global Wealth Strategies & Associates Has $29,000 Holdings in U.S. Bancorp (NYSE:USB)

Global Wealth Strategies & Associates boosted its position in shares of U.S. Bancorp (NYSE:USB) by 70.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 603 shares of the financial services provider’s stock after purchasing an additional 250 shares during the period. Global Wealth Strategies & Associates’ holdings in U.S. Bancorp were worth $29,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. State Street Corp lifted its position in shares of U.S. Bancorp by 1.2% during the 3rd quarter. State Street Corp now owns 67,282,970 shares of the financial services provider’s stock worth $3,110,115,000 after buying an additional 819,805 shares during the last quarter. FMR LLC boosted its holdings in shares of U.S. Bancorp by 32.7% during the 3rd quarter. FMR LLC now owns 63,913,931 shares of the financial services provider’s stock valued at $2,922,784,000 after acquiring an additional 15,746,852 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of U.S. Bancorp by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 47,328,880 shares of the financial services provider’s stock valued at $2,164,350,000 after acquiring an additional 1,796,336 shares in the last quarter. Geode Capital Management LLC grew its position in U.S. Bancorp by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 33,086,597 shares of the financial services provider’s stock worth $1,507,616,000 after acquiring an additional 599,852 shares during the last quarter. Finally, Davis Selected Advisers increased its holdings in U.S. Bancorp by 0.3% in the 2nd quarter. Davis Selected Advisers now owns 14,228,444 shares of the financial services provider’s stock worth $564,869,000 after purchasing an additional 43,437 shares in the last quarter. 77.60% of the stock is owned by institutional investors.

Insider Buying and Selling at U.S. Bancorp

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 value of $1,225,750.00. Following the transaction, the insider now owns 129,790 shares in the company, valued at $6,363,603.70. The trade was a 16.15 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.23% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on USB. Stephens boosted their price target on U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Barclays upped their price target on shares of U.S. Bancorp from $52.00 to $57.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. DA Davidson upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $58.00 to $60.00 in a report on Thursday. The Goldman Sachs Group decreased their price objective on U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating for the company in a report on Wednesday, September 11th. Finally, Piper Sandler lifted their target price on U.S. Bancorp from $52.00 to $58.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Ten research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $53.98.

U.S. Bancorp Stock Down 0.0 %

Shares of USB stock traded down $0.02 on Thursday, reaching $47.81. 3,190,072 shares of the company were exchanged, compared to its average volume of 8,176,125. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81. The company has a 50-day moving average of $50.19 and a 200-day moving average of $46.08. The company has a market cap of $74.59 billion, a price-to-earnings ratio of 14.62, a PEG ratio of 3.03 and a beta of 1.03. U.S. Bancorp has a one year low of $37.81 and a one year high of $53.98.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results 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 business had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.90 billion. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. During the same quarter in the prior year, the company earned $1.05 earnings per share. The company’s quarterly revenue was down 2.4% on a year-over-year basis. Analysts anticipate that U.S. Bancorp will post 3.93 earnings per share for the current year.

U.S. Bancorp declared that its Board of Directors has initiated a share repurchase plan on Thursday, September 12th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the financial services provider to buy up to 7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.50 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $2.00 annualized dividend and a yield of 4.18%. U.S. Bancorp’s payout ratio is 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.