Concurrent Investment Advisors LLC Has $2.62 Million Position in U.S. Bancorp (NYSE:USB)

Concurrent Investment Advisors LLC lifted its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 32.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,933 shares of the financial services provider's stock after acquiring an additional 15,238 shares during the quarter. Concurrent Investment Advisors LLC's holdings in U.S. Bancorp were worth $2,615,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Westend Capital Management LLC bought a new stake in shares of U.S. Bancorp during the 1st quarter worth $27,000. Picton Mahoney Asset Management purchased a new stake in shares of U.S. Bancorp in the fourth quarter valued at $30,000. Alpine Bank Wealth Management purchased a new stake in shares of U.S. Bancorp in the first quarter valued at $30,000. Millstone Evans Group LLC purchased a new stake in shares of U.S. Bancorp in the fourth quarter valued at $31,000. Finally, REAP Financial Group LLC lifted its holdings in shares of U.S. Bancorp by 86.1% in the fourth 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. 77.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on USB shares. TD Cowen started coverage on U.S. Bancorp in a report on Thursday, May 15th. They issued a "buy" rating and a $60.00 target price for the company. Evercore ISI increased their target price on U.S. Bancorp from $44.00 to $49.00 and gave the company an "in-line" rating in a report on Wednesday, June 4th. Truist Financial reduced their target price on U.S. Bancorp from $51.00 to $48.00 and set a "hold" rating for the company in a report on Thursday, April 17th. Piper Sandler reduced their target price on U.S. Bancorp from $49.00 to $48.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Finally, Wells Fargo & Company reduced their target price on U.S. Bancorp from $56.00 to $50.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $51.61.

Insider Activity

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

U.S. Bancorp Stock Up 0.1%

U.S. Bancorp stock traded up $0.05 during mid-day trading on Tuesday, hitting $47.83. 1,627,170 shares of the company's stock were exchanged, compared to its average volume of 9,337,320. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. The stock has a market cap of $74.52 billion, a P/E ratio of 11.84, a P/E/G ratio of 1.80 and a beta of 0.99. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $53.98. The stock has a 50 day moving average of $43.85 and a two-hundred day moving average of $44.36.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted 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. The firm had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $6.92 billion. U.S. Bancorp had a net margin of 15.70% and a return on equity of 13.02%. During the same period in the prior year, the business posted $0.78 earnings per share. As a group, analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.18%. The ex-dividend date of this dividend is Monday, June 30th. U.S. Bancorp's dividend payout ratio is currently 49.50%.

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.