Code Waechter LLC Acquires New Position in U.S. Bancorp (NYSE:USB)

Code Waechter LLC purchased a new position in U.S. Bancorp (NYSE:USB - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 9,918 shares of the financial services provider's stock, valued at approximately $419,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of USB. Picton Mahoney Asset Management purchased a new stake in shares of U.S. Bancorp in the 4th quarter valued at $30,000. Westend Capital Management LLC purchased a new stake in shares of U.S. Bancorp in the 1st quarter valued at $27,000. REAP Financial Group LLC boosted its stake in shares of U.S. Bancorp by 86.1% in the 4th quarter. REAP Financial Group LLC now owns 642 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 297 shares in the last quarter. Millstone Evans Group LLC purchased a new stake in shares of U.S. Bancorp in the 4th quarter valued at $31,000. Finally, Murphy & Mullick Capital Management Corp purchased a new stake in U.S. Bancorp during the 4th quarter valued at $32,000. Hedge funds and other institutional investors own 77.60% of the company's stock.

Insiders Place Their Bets

In related news, Director Aleem Gillani acquired 5,000 shares of the firm's stock in a transaction that occurred on Monday, April 21st. The stock was bought at an average price of $37.32 per share, for a total transaction of $186,600.00. Following the acquisition, the director directly owned 15,000 shares of the company's stock, valued at $559,800. This represents a 50.00% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.23% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on USB. DA Davidson dropped their price target on shares of U.S. Bancorp from $54.00 to $49.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Piper Sandler dropped their price target 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. Wells Fargo & Company dropped their price target on shares of U.S. Bancorp from $56.00 to $50.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Evercore ISI increased their price target on shares of U.S. Bancorp from $44.00 to $49.00 and gave the company an "in-line" rating in a research report on Wednesday, June 4th. Finally, Truist Financial increased 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. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $51.70.

U.S. Bancorp Trading Up 0.6%

USB stock traded up $0.26 during mid-day trading on Thursday, reaching $47.56. 8,606,255 shares of the stock traded hands, compared to its average volume of 9,399,839. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.80. U.S. Bancorp has a one year low of $35.18 and a one year high of $53.98. The stock has a market capitalization of $74.11 billion, a PE ratio of 11.77, a PEG ratio of 1.78 and a beta of 0.99. The business has a 50-day moving average price of $44.13 and a two-hundred day moving average price of $44.40.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share for the quarter, beating analysts' consensus estimates of $0.97 by $0.06. U.S. Bancorp had a net margin of 15.70% and a return on equity of 13.02%. The business had revenue of $6.96 billion for the quarter, compared to analysts' expectations of $6.92 billion. During the same quarter in the previous year, the business posted $0.78 earnings per share. Equities research analysts expect that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.20%. The ex-dividend date is Monday, June 30th. U.S. Bancorp's dividend payout ratio is presently 49.50%.

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.