Commonwealth Equity Services LLC Acquires 37,580 Shares of U.S. Bancorp (NYSE:USB)

Key Points

• Commonwealth Equity Services LLC increased its holdings in U.S. Bancorp by 5.4%, acquiring an additional 37,580 shares, bringing its total to 735,758 shares valued at $31.06 million.
• The recent quarterly earnings report indicated U.S. Bancorp achieved $1.11 EPS, surpassing analysts' expectations of $1.07, and demonstrating a 2.0% revenue growth year-over-year.
• U.S. Bancorp declared a quarterly dividend of $0.50 per share, yielding 4.5%, with a payout ratio of 47.85% as of the most recent reporting period.

Commonwealth Equity Services LLC lifted its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 5.4% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 735,758 shares of the financial services provider's stock after purchasing an additional 37,580 shares during the period. Commonwealth Equity Services LLC's holdings in U.S. Bancorp were worth $31,064,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Raiffeisen Bank International AG lifted its stake in shares of U.S. Bancorp by 41.1% during the first quarter. Raiffeisen Bank International AG now owns 15,147 shares of the financial services provider's stock valued at $640,000 after acquiring an additional 4,413 shares during the period. Argent Trust Co lifted its stake in shares of U.S. Bancorp by 0.6% during the first quarter. Argent Trust Co now owns 54,308 shares of the financial services provider's stock valued at $2,293,000 after acquiring an additional 349 shares during the period. Liberty Wealth Management LLC lifted its stake in shares of U.S. Bancorp by 60.0% during the first quarter. Liberty Wealth Management LLC now owns 13,617 shares of the financial services provider's stock valued at $575,000 after acquiring an additional 5,107 shares during the period. Pathway Financial Advisers LLC lifted its stake in shares of U.S. Bancorp by 2.2% during the first quarter. Pathway Financial Advisers LLC now owns 25,254 shares of the financial services provider's stock valued at $1,066,000 after acquiring an additional 545 shares during the period. Finally, R Squared Ltd lifted its stake in shares of U.S. Bancorp by 4,874.9% during the first quarter. R Squared Ltd now owns 23,830 shares of the financial services provider's stock valued at $1,006,000 after acquiring an additional 23,351 shares during the period. Institutional investors own 77.60% of the company's stock.

U.S. Bancorp Stock Up 0.4%

Shares of NYSE:USB opened at $44.58 on Wednesday. The company has a market capitalization of $69.46 billion, a price-to-earnings ratio of 10.67, a P/E/G ratio of 1.39 and a beta of 1.01. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.81 and a quick ratio of 0.81. The business's 50-day moving average is $45.22 and its 200-day moving average is $44.02. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $53.98.

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

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend was Monday, June 30th. U.S. Bancorp's payout ratio is currently 47.85%.

Insider Buying and Selling

In related news, EVP Souheil Badran sold 23,727 shares of the 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. This trade represents a 25.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.23% of the company's stock.

Wall Street Analysts Forecast Growth

USB has been the topic of several research reports. The Goldman Sachs Group upped their price target on U.S. Bancorp from $41.00 to $46.00 and gave the company a "neutral" rating in a research note on Tuesday, June 10th. Cowen assumed coverage on U.S. Bancorp in a research note on Wednesday, May 14th. They issued a "buy" rating on the stock. Truist Financial increased their target price on U.S. Bancorp from $48.00 to $50.00 and gave the company a "hold" rating in a research note on Wednesday, July 9th. Wall Street Zen raised U.S. Bancorp from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Finally, Citigroup raised their price target on U.S. Bancorp from $55.00 to $59.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $52.55.

U.S. Bancorp Company 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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