Advisory Services Network LLC Acquires 13,953 Shares of U.S. Bancorp (NYSE:USB)

Advisory Services Network LLC lifted its holdings in shares of U.S. Bancorp (NYSE:USB) by 28.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,334 shares of the financial services provider’s stock after buying an additional 13,953 shares during the quarter. Advisory Services Network LLC’s holdings in U.S. Bancorp were worth $3,029,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Morse Asset Management Inc purchased a new position in shares of U.S. Bancorp in the third quarter valued at $229,000. Empire Financial Management Company LLC purchased a new position in U.S. Bancorp during the 3rd quarter valued at about $215,000. Unigestion Holding SA bought a new stake in shares of U.S. Bancorp during the third quarter valued at about $600,000. M&T Bank Corp lifted its holdings in shares of U.S. Bancorp by 2.8% in the third quarter. M&T Bank Corp now owns 846,344 shares of the financial services provider’s stock worth $38,704,000 after buying an additional 22,803 shares in the last quarter. Finally, Wealthquest Corp bought a new position in shares of U.S. Bancorp in the third quarter valued at approximately $1,160,000. 77.60% of the stock is owned by institutional investors.

U.S. Bancorp Stock Down 5.3 %

Shares of NYSE:USB opened at $37.22 on Friday. U.S. Bancorp has a 12-month low of $35.18 and a 12-month high of $53.98. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. The stock’s 50-day moving average price is $43.65 and its 200-day moving average price is $47.07. The stock has a market capitalization of $57.99 billion, a P/E ratio of 9.82, a price-to-earnings-growth ratio of 1.73 and a beta of 0.91.

U.S. Bancorp (NYSE:USB) last announced 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. The business had revenue of $7.01 billion for the quarter, compared to analysts’ expectations of $7 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.99 EPS. On average, equities analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 5.37%. The ex-dividend date of this dividend is Monday, March 31st. U.S. Bancorp’s dividend payout ratio (DPR) is presently 52.77%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Citigroup decreased their target price on shares of U.S. Bancorp from $65.00 to $55.00 and set a “buy” rating on the stock in a report on Monday, March 24th. Wolfe Research upgraded U.S. Bancorp from a “peer perform” rating to an “outperform” rating and set a $49.00 price objective on the stock in a research report on Thursday, April 3rd. Barclays lifted their price objective on U.S. Bancorp from $57.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Morgan Stanley decreased their target price on U.S. Bancorp from $55.00 to $51.00 and set an “overweight” rating on the stock in a research note on Monday. Finally, Piper Sandler upgraded U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price target for the company in a research report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $52.52.

Insider Buying and Selling at U.S. Bancorp

In other news, insider Jodi L. Richard sold 30,000 shares of U.S. Bancorp stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $47.59, for a total value of $1,427,700.00. Following the sale, the insider now directly owns 99,790 shares in the company, valued at approximately $4,749,006.10. This trade represents a 23.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Terrance R. Dolan sold 66,317 shares of the company’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 value of $3,114,246.32. Following the transaction, the insider now owns 209,482 shares of the company’s stock, valued at approximately $9,837,274.72. This represents a 24.05 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 219,812 shares of company stock worth $10,385,665. 0.23% of the stock is currently owned by company insiders.

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.