Avantax Advisory Services Inc. Raises Stake in U.S. Bancorp (NYSE:USB)

Avantax Advisory Services Inc. increased its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 4.5% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 147,750 shares of the financial services provider's stock after purchasing an additional 6,345 shares during the period. Avantax Advisory Services Inc.'s holdings in U.S. Bancorp were worth $6,238,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in USB. Brighton Jones LLC raised its holdings 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 acquiring an additional 36,863 shares in the last quarter. New Age Alpha Advisors LLC purchased a new stake in shares of U.S. Bancorp in the 4th quarter valued at about $2,430,000. Pictet Asset Management Holding SA raised its holdings in shares of U.S. Bancorp by 13.3% in the 4th quarter. Pictet Asset Management Holding SA now owns 929,408 shares of the financial services provider's stock valued at $44,454,000 after acquiring an additional 109,043 shares in the last quarter. Allstate Corp purchased a new stake in shares of U.S. Bancorp in the 4th quarter valued at about $2,228,000. Finally, Allianz SE purchased a new stake in shares of U.S. Bancorp in the 4th quarter valued at about $193,000. Hedge funds and other institutional investors own 77.60% of the company's stock.

Analysts Set New Price Targets

USB has been the topic of several recent research reports. Keefe, Bruyette & Woods reduced their price objective on U.S. Bancorp from $54.00 to $49.00 and set a "market perform" rating on the stock in a research report on Thursday, April 17th. Truist Financial increased their price objective on U.S. Bancorp from $48.00 to $50.00 and gave the company a "hold" rating in a research report on Wednesday, July 9th. Cowen initiated coverage on U.S. Bancorp in a research report on Wednesday, May 14th. They set a "buy" rating on the stock. JPMorgan Chase & Co. reiterated an "underweight" rating and set a $43.50 price objective (down from $51.00) on shares of U.S. Bancorp in a research report on Thursday, April 3rd. Finally, Piper Sandler reduced their price objective on U.S. Bancorp from $49.00 to $48.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $52.50.

U.S. Bancorp Trading Up 0.6%

NYSE USB opened at $46.32 on Monday. The stock has a market cap of $72.16 billion, a P/E ratio of 11.08, a price-to-earnings-growth ratio of 1.46 and a beta of 0.99. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a 50 day simple moving average of $44.99 and a two-hundred day simple moving average of $44.16. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two week high of $53.98.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its earnings results on Thursday, July 17th. The financial services provider reported $1.11 EPS for the quarter, beating analysts' consensus estimates of $1.07 by $0.04. The company had revenue of $7.06 billion during the quarter, compared to analysts' expectations of $7.07 billion. U.S. Bancorp had a return on equity of 13.08% and a net margin of 16.30%. The firm's revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.98 EPS. On average, analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date was Monday, June 30th. U.S. Bancorp's payout ratio is presently 47.85%.

Insider Activity at U.S. Bancorp

In other news, EVP Souheil Badran sold 23,727 shares of the firm'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 value of $1,099,509.18. Following the completion of the transaction, the executive vice president owned 70,346 shares in the company, valued at $3,259,833.64. This trade represents a 25.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.23% of the stock is currently owned by 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.

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