Angeles Wealth Management LLC Purchases Shares of 10,147 U.S. Bancorp $USB

Key Points

• Angeles Wealth Management LLC has acquired 10,147 shares of U.S. Bancorp, valued at approximately $459,000, as part of their second-quarter investments.
• U.S. Bancorp reported an EPS of $1.22 for the last quarter, surpassing analysts' expectations of $1.11, and saw a 6.8% increase in revenue year-over-year.
• The company recently announced a quarterly dividend increase to $0.52 per share, resulting in an annualized yield of 4.6%.

Angeles Wealth Management LLC acquired a new stake in U.S. Bancorp (NYSE:USB - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 10,147 shares of the financial services provider's stock, valued at approximately $459,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in USB. Brighton Jones LLC lifted its stake in shares of U.S. Bancorp by 323.0% in the 4th quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider's stock valued at $2,309,000 after purchasing an additional 36,863 shares during the period. GAMMA Investing LLC lifted its stake in shares of U.S. Bancorp by 0.9% in the 1st quarter. GAMMA Investing LLC now owns 36,656 shares of the financial services provider's stock valued at $1,548,000 after purchasing an additional 333 shares during the period. Dynamic Advisor Solutions LLC acquired a new position in shares of U.S. Bancorp in the 1st quarter valued at about $327,000. Janney Montgomery Scott LLC acquired a new position in shares of U.S. Bancorp in the 1st quarter valued at about $12,261,000. Finally, Kingswood Wealth Advisors LLC lifted its stake in shares of U.S. Bancorp by 3.4% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 10,495 shares of the financial services provider's stock valued at $443,000 after purchasing an additional 350 shares during the period. 77.60% of the stock is owned by institutional investors and hedge funds.

U.S. Bancorp Stock Performance

Shares of USB opened at $45.66 on Friday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.81 and a current ratio of 0.82. The stock has a 50 day moving average price of $47.93 and a two-hundred day moving average price of $44.81. The firm has a market capitalization of $71.06 billion, a P/E ratio of 10.45, a P/E/G ratio of 1.33 and a beta of 1.06. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $53.98.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.22 EPS for the quarter, topping analysts' consensus estimates of $1.11 by $0.11. The firm had revenue of $7.34 billion during the quarter, compared to analyst estimates of $7.17 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.The company's revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.03 EPS. Equities analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $2.08 dividend on an annualized basis and a yield of 4.6%. This is an increase from U.S. Bancorp's previous quarterly dividend of $0.50. U.S. Bancorp's dividend payout ratio is presently 47.60%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Raymond James Financial raised U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and boosted their price objective for the company from $51.00 to $57.00 in a research note on Monday, July 7th. Citigroup boosted their price objective on U.S. Bancorp from $65.00 to $70.00 and gave the company a "buy" rating in a research note on Friday. Wall Street Zen raised U.S. Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Truist Financial upped their price target on U.S. Bancorp from $51.00 to $52.00 and gave the stock a "hold" rating in a research note on Friday. Finally, Bank of America upped their price target on U.S. Bancorp from $54.00 to $55.00 and gave the stock a "buy" rating in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $54.48.

Insider Buying and Selling

In other U.S. Bancorp news, EVP Souheil Badran sold 23,727 shares of the business's stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $46.34, for a total transaction of $1,099,509.18. Following the completion of the sale, the executive vice president directly owned 70,346 shares of the company's stock, valued at approximately $3,259,833.64. The trade was a 25.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate 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.

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