U.S. Bancorp (NYSE:USB) Shares Bought by Assetmark Inc.

Assetmark Inc. raised its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 10.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 100,343 shares of the financial services provider's stock after buying an additional 9,497 shares during the quarter. Assetmark Inc.'s holdings in U.S. Bancorp were worth $4,236,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Cetera Investment Advisers grew its position in shares of U.S. Bancorp by 10.2% in the first quarter. Cetera Investment Advisers now owns 645,487 shares of the financial services provider's stock valued at $27,252,000 after purchasing an additional 59,961 shares in the last quarter. Avantax Advisory Services Inc. boosted its stake in U.S. Bancorp by 4.5% during the first quarter. Avantax Advisory Services Inc. now owns 147,750 shares of the financial services provider's stock worth $6,238,000 after buying an additional 6,345 shares during the last quarter. Gilbert & Cook Inc. grew its holdings in U.S. Bancorp by 2.0% in the 1st quarter. Gilbert & Cook Inc. now owns 14,550 shares of the financial services provider's stock valued at $614,000 after buying an additional 282 shares in the last quarter. Brookwood Investment Group LLC acquired a new stake in shares of U.S. Bancorp in the 1st quarter worth $276,000. Finally, Advisor OS LLC increased its stake in shares of U.S. Bancorp by 4.3% in the 1st quarter. Advisor OS LLC now owns 6,660 shares of the financial services provider's stock worth $281,000 after acquiring an additional 275 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company's stock.

U.S. Bancorp Stock Down 2.6%

Shares of U.S. Bancorp stock traded down $1.17 on Friday, reaching $43.80. 4,280,761 shares of the company were exchanged, compared to its average volume of 10,877,997. The stock's 50 day moving average price is $45.15 and its 200-day moving average price is $44.15. The company has a market cap of $68.23 billion, a P/E ratio of 10.48, a price-to-earnings-growth ratio of 1.44 and a beta of 0.99. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $53.98. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.81 and a quick ratio of 0.81.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.04. U.S. Bancorp had a net margin of 16.30% and a return on equity of 13.08%. The business had revenue of $7.06 billion during the quarter, compared to analysts' expectations of $7.07 billion. During the same period in the previous year, the company earned $0.98 EPS. The company's revenue for the quarter was up 2.0% on a year-over-year basis. As a group, equities analysts forecast that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend was Monday, June 30th. U.S. Bancorp's dividend payout ratio is 47.85%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Wall Street Zen raised shares of U.S. Bancorp from a "sell" rating to a "hold" rating in a report on Friday, July 18th. The Goldman Sachs Group boosted their target price on shares of U.S. Bancorp from $41.00 to $46.00 and gave the company a "neutral" rating in a report on Tuesday, June 10th. Evercore ISI raised their price target on shares of U.S. Bancorp from $44.00 to $49.00 and gave the stock an "in-line" rating in a report on Wednesday, June 4th. Truist Financial lifted their price target on shares of U.S. Bancorp from $48.00 to $50.00 and gave the company a "hold" rating in a research report on Wednesday, July 9th. Finally, Raymond James Financial upgraded U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and increased their price objective for the stock from $51.00 to $57.00 in a research report on Monday, July 7th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $52.55.

Insider Transactions at U.S. Bancorp

In related news, EVP Souheil Badran sold 23,727 shares of the stock in a transaction on Monday, July 21st. The shares were sold at an average price of $46.34, for a total value of $1,099,509.18. Following the transaction, the executive vice president directly owned 70,346 shares of the company's stock, valued at $3,259,833.64. This trade represents a 25.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.23% of the stock is owned by company insiders.

U.S. Bancorp 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.