Beacon Financial Advisory LLC Buys Shares of 22,063 U.S. Bancorp $USB

Key Points

• Beacon Financial Advisory LLC opened a new position in U.S. Bancorp, buying 22,063 shares worth about $1.18 million in the fourth quarter.
• Institutional interest in USB remains high, with 77.6% of shares owned by hedge funds and other institutions. Several other funds also recently increased their stakes.
• Wall Street sentiment is generally positive: analysts currently rate U.S. Bancorp as a Moderate Buy with an average price target of $61.29, while the company recently beat quarterly EPS and revenue estimates.

Beacon Financial Advisory LLC bought a new stake in U.S. Bancorp (NYSE:USB - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 22,063 shares of the financial services provider's stock, valued at approximately $1,177,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in USB. Brighton Jones LLC lifted its holdings in 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 in the last quarter. Empowered Funds LLC lifted its holdings in U.S. Bancorp by 2.1% in the 1st quarter. Empowered Funds LLC now owns 34,411 shares of the financial services provider's stock valued at $1,453,000 after purchasing an additional 714 shares in the last quarter. Intech Investment Management LLC lifted its holdings in U.S. Bancorp by 18.9% in the 1st quarter. Intech Investment Management LLC now owns 39,276 shares of the financial services provider's stock valued at $1,658,000 after purchasing an additional 6,252 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in U.S. Bancorp in the 2nd quarter valued at about $425,000. Finally, Nebula Research & Development LLC purchased a new position in U.S. Bancorp in the 2nd quarter valued at about $701,000. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Stephens initiated coverage on shares of U.S. Bancorp in a report on Monday. They issued an "equal weight" rating and a $63.00 target price on the stock. Piper Sandler reiterated a "buy" rating on shares of U.S. Bancorp in a report on Thursday, February 26th. Barclays increased their price objective on shares of U.S. Bancorp from $65.00 to $67.00 and gave the stock an "overweight" rating in a report on Friday, April 17th. Royal Bank Of Canada increased their price objective on shares of U.S. Bancorp from $59.00 to $61.00 and gave the stock an "outperform" rating in a report on Friday, April 17th. Finally, Truist Financial cut their price objective on shares of U.S. Bancorp from $63.00 to $62.00 and set a "buy" rating on the stock in a report on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $61.29.

Insider Buying and Selling

In related news, EVP Venkatachari Dilip sold 34,522 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the completion of the sale, the executive vice president owned 51,292 shares of the company's stock, valued at approximately $2,847,731.84. This represents a 40.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jodi L. Richard sold 40,000 shares of the stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the sale, the insider directly owned 207,251 shares of the company's stock, valued at approximately $11,813,307. This trade represents a 16.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is currently owned by corporate insiders.

U.S. Bancorp Trading Down 2.0%

Shares of USB stock opened at $57.78 on Tuesday. The firm has a market cap of $89.63 billion, a P/E ratio of 12.11, a PEG ratio of 1.07 and a beta of 0.97. U.S. Bancorp has a 1-year low of $42.55 and a 1-year high of $61.19. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.81 and a quick ratio of 0.81. The firm's 50-day simple moving average is $55.34 and its 200-day simple moving average is $54.64.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its quarterly earnings data on Thursday, April 16th. The financial services provider reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.04. The business had revenue of $7.32 billion for the quarter, compared to analyst estimates of $7.27 billion. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. The company's revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.03 EPS. As a group, equities analysts forecast that U.S. Bancorp will post 5.07 EPS for the current year.

U.S. Bancorp Company Profile

U.S. Bancorp NYSE: USB is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.