U.S. Bancorp (NYSE:USB) Shares Purchased by Summit Financial Wealth Advisors LLC

Summit Financial Wealth Advisors LLC lifted its position in shares of U.S. Bancorp (NYSE:USB) by 5.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 103,800 shares of the financial services provider’s stock after purchasing an additional 5,279 shares during the period. U.S. Bancorp comprises about 1.0% of Summit Financial Wealth Advisors LLC’s holdings, making the stock its 26th largest position. Summit Financial Wealth Advisors LLC’s holdings in U.S. Bancorp were worth $4,865,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in USB. Winch Advisory Services LLC grew its position in shares of U.S. Bancorp by 1,088.9% during the fourth quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 490 shares during the last quarter. J.Safra Asset Management Corp purchased a new position in shares of U.S. Bancorp in the 4th quarter valued at approximately $26,000. FPC Investment Advisory Inc. acquired a new position in shares of U.S. Bancorp in the fourth quarter valued at approximately $28,000. Global Wealth Strategies & Associates lifted its holdings in shares of 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 period. Finally, Stonebridge Financial Group LLC purchased a new position in U.S. Bancorp during the 4th quarter worth $30,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Oppenheimer boosted their target price on U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Citigroup cut their price target on U.S. Bancorp from $65.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, March 24th. Wolfe Research raised shares of U.S. Bancorp from a “peer perform” rating to an “outperform” rating and set a $49.00 price target on the stock in a report on Thursday, April 3rd. Raymond James raised shares of 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, DA Davidson upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their target price for the company from $58.00 to $60.00 in a report on Thursday, January 2nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.52.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 30,000 shares of the business’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $47.59, for a total value of $1,427,700.00. Following the sale, the insider now owns 99,790 shares of the company’s stock, valued at $4,749,006.10. The trade was a 23.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP James L. Chosy sold 21,451 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $47.65, for a total transaction of $1,022,140.15. Following the completion of the sale, the executive vice president now directly owns 198,127 shares in the company, valued at approximately $9,440,751.55. The trade was a 9.77 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 219,812 shares of company stock worth $10,385,665. Company insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Performance

USB stock traded down $1.54 during midday trading on Thursday, hitting $37.76. 2,859,258 shares of the company traded hands, compared to its average volume of 8,859,325. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. The business has a 50 day simple moving average of $43.85 and a 200-day simple moving average of $47.13. The stock has a market capitalization of $58.83 billion, a price-to-earnings ratio of 9.96, a price-to-earnings-growth ratio of 1.73 and a beta of 0.91. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $53.98.

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

U.S. Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.30%. The ex-dividend date of this dividend is Monday, March 31st. U.S. Bancorp’s dividend payout ratio is currently 52.77%.

About U.S. Bancorp

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.