Alteri Wealth LLC Buys New Position in U.S. Bancorp (NYSE:USB)

Alteri Wealth LLC acquired a new position in shares of U.S. Bancorp (NYSE:USB - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 7,479 shares of the financial services provider's stock, valued at approximately $358,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Aptus Capital Advisors LLC raised its holdings in U.S. Bancorp by 397.5% in the 4th quarter. Aptus Capital Advisors LLC now owns 82,681 shares of the financial services provider's stock worth $3,990,000 after acquiring an additional 66,062 shares during the last quarter. Atalanta Sosnoff Capital LLC lifted its holdings in shares of U.S. Bancorp by 176.6% during the fourth quarter. Atalanta Sosnoff Capital LLC now owns 1,346,862 shares of the financial services provider's stock valued at $64,420,000 after purchasing an additional 859,882 shares in the last quarter. AXA S.A. boosted its position in shares of U.S. Bancorp by 195.7% during the fourth quarter. AXA S.A. now owns 102,380 shares of the financial services provider's stock valued at $4,897,000 after buying an additional 67,759 shares during the last quarter. Accredited Wealth Management LLC bought a new stake in U.S. Bancorp in the 4th quarter worth about $70,000. Finally, All Terrain Financial Advisors LLC lifted its stake in U.S. Bancorp by 1.6% during the 4th quarter. All Terrain Financial Advisors LLC now owns 96,799 shares of the financial services provider's stock valued at $4,630,000 after acquiring an additional 1,515 shares during the period. Institutional investors own 77.60% of the company's stock.

U.S. Bancorp Stock Performance

NYSE:USB traded up $0.31 during midday trading on Wednesday, reaching $41.29. The stock had a trading volume of 8,325,790 shares, compared to its average volume of 9,094,022. 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 stock has a market cap of $64.34 billion, a P/E ratio of 10.90, a P/E/G ratio of 1.73 and a beta of 0.97. The firm has a fifty day simple moving average of $40.95 and a two-hundred day simple moving average of $46.27. U.S. Bancorp has a 12-month low of $35.18 and a 12-month high of $53.98.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.97 by $0.06. The business had revenue of $6.96 billion for the quarter, compared to analyst estimates of $6.92 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. During the same period in the previous year, the business posted $0.78 earnings per share. On average, equities analysts expect that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.00 annualized dividend and a dividend yield of 4.84%. U.S. Bancorp's dividend payout ratio is currently 49.50%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. DA Davidson lowered their price objective on U.S. Bancorp from $54.00 to $49.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Barclays lowered their price objective on U.S. Bancorp from $61.00 to $56.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Bank of America dropped their target price on U.S. Bancorp from $50.00 to $49.00 and set a "buy" rating on the stock in a research report on Monday, March 17th. Citigroup lowered their price target 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. Finally, Piper Sandler decreased their price objective on U.S. Bancorp from $49.00 to $48.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $50.48.

Insiders Place Their Bets

In related news, insider Jodi L. Richard sold 30,000 shares of the firm's stock in a transaction dated 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 completion of the sale, the insider now owns 99,790 shares in the company, valued at $4,749,006.10. This trade represents a 23.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Aleem Gillani bought 5,000 shares of the company's stock in a transaction on Monday, April 21st. The stock was bought at an average cost of $37.32 per share, with a total value of $186,600.00. Following the completion of the acquisition, the director now owns 15,000 shares of the company's stock, valued at $559,800. This represents a 50.00 % increase in their position. The disclosure for this purchase can be found here. 0.23% of the stock is currently owned by company insiders.

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.