Concurrent Investment Advisors LLC Increases Position in U.S. Bancorp (NYSE:USB)

Concurrent Investment Advisors LLC increased its stake in U.S. Bancorp (NYSE:USB - Free Report) by 32.6% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 61,933 shares of the financial services provider's stock after acquiring an additional 15,238 shares during the period. Concurrent Investment Advisors LLC's holdings in U.S. Bancorp were worth $2,615,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Covestor Ltd boosted its holdings in shares of U.S. Bancorp by 12.3% during the 4th quarter. Covestor Ltd now owns 1,955 shares of the financial services provider's stock valued at $94,000 after acquiring an additional 214 shares during the last quarter. TrinityPoint Wealth LLC boosted its holdings in shares of U.S. Bancorp by 2.3% in the fourth quarter. TrinityPoint Wealth LLC now owns 10,355 shares of the financial services provider's stock worth $495,000 after buying an additional 231 shares during the last quarter. CoreCap Advisors LLC boosted its holdings in shares of U.S. Bancorp by 36.6% in the fourth quarter. CoreCap Advisors LLC now owns 904 shares of the financial services provider's stock worth $43,000 after buying an additional 242 shares during the last quarter. Bestgate Wealth Advisors LLC boosted its holdings in shares of U.S. Bancorp by 3.3% in the first quarter. Bestgate Wealth Advisors LLC now owns 8,031 shares of the financial services provider's stock worth $339,000 after buying an additional 253 shares during the last quarter. Finally, Aaron Wealth Advisors LLC boosted its holdings in shares of U.S. Bancorp by 3.3% in the first quarter. Aaron Wealth Advisors LLC now owns 8,190 shares of the financial services provider's stock worth $346,000 after buying an additional 262 shares during the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Aleem Gillani bought 5,000 shares of U.S. Bancorp stock in a transaction dated Monday, April 21st. The shares were purchased at an average cost of $37.32 per share, with a total value of $186,600.00. Following the completion of the acquisition, the director owned 15,000 shares of the company's stock, valued at $559,800. This trade represents a 50.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.23% of the company's stock.

U.S. Bancorp Price Performance

USB stock opened at $47.73 on Monday. U.S. Bancorp has a one year low of $35.18 and a one year high of $53.98. The company's fifty day moving average price is $43.70 and its 200-day moving average price is $44.36. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market capitalization of $74.36 billion, a PE ratio of 11.81, a price-to-earnings-growth ratio of 1.80 and a beta of 0.99.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its earnings results on Wednesday, April 16th. The financial services provider reported $1.03 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $6.92 billion. During the same quarter in the previous year, the firm earned $0.78 earnings per share. On average, equities analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.00 annualized dividend and a dividend yield of 4.19%. U.S. Bancorp's dividend payout ratio (DPR) is 49.50%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on USB shares. Cowen started coverage on shares of U.S. Bancorp in a report on Wednesday, May 14th. They issued a "buy" rating on the stock. Barclays dropped their price objective on shares of U.S. Bancorp from $61.00 to $56.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Wells Fargo & Company dropped their price objective on shares of U.S. Bancorp from $56.00 to $50.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Morgan Stanley raised their price objective on shares of U.S. Bancorp from $50.00 to $51.00 and gave the stock an "overweight" rating in a report on Thursday. Finally, Truist Financial dropped their price objective on shares of U.S. Bancorp from $51.00 to $48.00 and set a "hold" rating on the stock in a report on Thursday, April 17th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $51.34.

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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