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

Modera Wealth Management LLC raised its holdings in shares of U.S. Bancorp (NYSE:USB) by 4.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,950 shares of the financial services provider’s stock after buying an additional 502 shares during the period. 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 and other institutional investors have also added to or reduced their stakes in the business. SRS Capital Advisors Inc. increased its holdings in U.S. Bancorp by 788.4% during the fourth quarter. SRS Capital Advisors Inc. now owns 4,691 shares of the financial services provider’s stock valued at $224,000 after buying an additional 4,163 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in U.S. Bancorp by 10.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 13,736 shares of the financial services provider’s stock valued at $663,000 after buying an additional 1,281 shares during the last quarter. Hickory Point Bank & Trust purchased a new stake in U.S. Bancorp during the fourth quarter valued at approximately $356,000. Fisher Asset Management LLC increased its holdings in U.S. Bancorp by 8.9% during the fourth quarter. Fisher Asset Management LLC now owns 4,885,816 shares of the financial services provider’s stock valued at $233,689,000 after buying an additional 398,959 shares during the last quarter. Finally, WR Wealth Planners LLC boosted its position in shares of U.S. Bancorp by 74.7% in the fourth quarter. WR Wealth Planners LLC now owns 1,055 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 451 shares during the period. 77.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Jodi L. Richard sold 30,000 shares of U.S. Bancorp stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $47.59, for a total transaction of $1,427,700.00. Following the completion of the transaction, the insider now directly owns 99,790 shares of the company’s stock, valued at approximately $4,749,006.10. The trade was a 23.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP James L. Chosy sold 21,451 shares of U.S. Bancorp stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $47.65, for a total transaction of $1,022,140.15. Following the transaction, the executive vice president now directly owns 198,127 shares of the company’s stock, valued at approximately $9,440,751.55. This represents a 9.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 219,812 shares of company stock valued at $10,385,665. Company insiders own 0.23% of the company’s stock.

Wall Street Analysts Forecast Growth

USB has been the subject of a number of recent analyst reports. DA Davidson upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their price target for the stock from $58.00 to $60.00 in a research report on Thursday, January 2nd. Truist Financial initiated coverage on shares of U.S. Bancorp in a research report on Tuesday, January 7th. They issued a “hold” rating and a $54.00 price target for the company. Wells Fargo & Company upped their price target on shares of U.S. Bancorp from $60.00 to $62.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Oppenheimer upped their price target on shares of U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Finally, Citigroup upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their target price for the stock from $49.00 to $65.00 in a research report on Monday, November 25th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $54.21.

U.S. Bancorp Stock Performance

Shares of NYSE:USB opened at $44.56 on Wednesday. U.S. Bancorp has a 52 week low of $37.81 and a 52 week high of $53.98. The stock has a market capitalization of $69.51 billion, a P/E ratio of 11.76, a PEG ratio of 1.73 and a beta of 1.04. The firm has a fifty day simple moving average of $47.79 and a two-hundred day simple moving average of $47.91. 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 results on Thursday, January 16th. The financial services provider reported $1.07 EPS 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 firm had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $7 billion. During the same period in the previous year, the company earned $0.99 EPS. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

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

U.S. Bancorp Company 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.