U.S. Bancorp (NYSE:USB) Shares Purchased by Baird Financial Group Inc.

Baird Financial Group Inc. increased its stake in U.S. Bancorp (NYSE:USB - Free Report) by 2.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,426,793 shares of the financial services provider's stock after acquiring an additional 134,435 shares during the quarter. Baird Financial Group Inc. owned approximately 0.41% of U.S. Bancorp worth $307,394,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of USB. Capital Performance Advisors LLP grew its stake in U.S. Bancorp by 2.6% during the 4th quarter. Capital Performance Advisors LLP now owns 8,188 shares of the financial services provider's stock valued at $392,000 after acquiring an additional 210 shares in the last quarter. HCR Wealth Advisors grew its holdings in shares of U.S. Bancorp by 1.1% during the 4th quarter. HCR Wealth Advisors now owns 20,107 shares of the financial services provider's stock worth $962,000 after purchasing an additional 211 shares during the period. Covestor Ltd lifted its holdings in shares of U.S. Bancorp by 12.3% in the 4th quarter. Covestor Ltd now owns 1,955 shares of the financial services provider's stock worth $94,000 after acquiring an additional 214 shares during the last quarter. Priebe Wealth Holdings LLC boosted its holdings in U.S. Bancorp by 4.4% during the 4th quarter. Priebe Wealth Holdings LLC now owns 5,078 shares of the financial services provider's stock valued at $243,000 after acquiring an additional 215 shares during the period. Finally, Essex Savings Bank increased its stake in U.S. Bancorp by 1.8% during the 4th quarter. Essex Savings Bank now owns 12,350 shares of the financial services provider's stock worth $591,000 after buying an additional 216 shares during the period. Institutional investors and hedge funds own 77.60% of the company's stock.

U.S. Bancorp Trading Up 0.8 %

Shares of USB traded up $0.31 during mid-day trading on Wednesday, hitting $41.29. The company had a trading volume of 8,325,790 shares, compared to its average volume of 9,094,022. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $53.98. 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's 50-day simple moving average is $40.95 and its 200-day simple moving average is $46.27. The stock has a market cap of $64.34 billion, a PE ratio of 10.90, a P/E/G ratio of 1.73 and a beta of 0.97.

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

U.S. Bancorp Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms recently weighed in on USB. Wells Fargo & Company cut their target price on shares of U.S. Bancorp from $56.00 to $50.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Piper Sandler cut their price objective on shares of U.S. Bancorp from $49.00 to $48.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. JPMorgan Chase & Co. reissued an "underweight" rating and issued a $43.50 price target (down from $51.00) on shares of U.S. Bancorp in a report on Thursday, April 3rd. 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 research report on Monday, March 24th. Finally, Raymond James restated an "outperform" rating and issued a $51.00 price target (down previously from $57.00) on shares of U.S. Bancorp in a research report on Thursday, April 17th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, U.S. Bancorp presently has an average rating of "Moderate Buy" and an average target price of $50.48.

Insider Activity

In related news, insider Jodi L. Richard sold 30,000 shares of U.S. Bancorp 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 completion of the sale, the insider now owns 99,790 shares in the company, valued at approximately $4,749,006.10. The trade was a 23.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Aleem Gillani bought 5,000 shares of the company's stock in a transaction dated 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 transaction, the director now directly owns 15,000 shares in the company, valued at approximately $559,800. The trade was a 50.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.23% of the company's stock.

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.