Corient Private Wealth LLC Buys 108,789 Shares of U.S. Bancorp $USB

Key Points

• Corient Private Wealth LLC increased its U.S. Bancorp stake by 26.9% in the fourth quarter, buying 108,789 additional shares and bringing its total holding to 513,400 shares worth about $27.5 million.
• Institutional ownership remains heavy in USB, with several large investors also adding positions and hedge funds owning 77.6% of the stock overall.
• U.S. Bancorp reported better-than-expected quarterly results, with EPS of $1.18 topping estimates and revenue rising 4.7% year over year; the company also declared a quarterly dividend of $0.52 per share, yielding about 3.5% annually.

Corient Private Wealth LLC lifted its stake in U.S. Bancorp (NYSE:USB - Free Report) by 26.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 513,400 shares of the financial services provider's stock after acquiring an additional 108,789 shares during the period. Corient Private Wealth LLC's holdings in U.S. Bancorp were worth $27,454,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in USB. Norges Bank acquired a new position in U.S. Bancorp during the fourth quarter valued at approximately $1,887,497,000. Auto Owners Insurance Co lifted its stake in shares of U.S. Bancorp by 5,236.0% in the fourth quarter. Auto Owners Insurance Co now owns 33,350,000 shares of the financial services provider's stock worth $1,779,556,000 after buying an additional 32,725,000 shares during the last quarter. Capital Research Global Investors acquired a new stake in shares of U.S. Bancorp in the fourth quarter worth $296,377,000. SG Americas Securities LLC boosted its holdings in shares of U.S. Bancorp by 3,451.9% during the 4th quarter. SG Americas Securities LLC now owns 4,332,659 shares of the financial services provider's stock worth $231,191,000 after buying an additional 4,210,676 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of U.S. Bancorp by 20.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 24,919,079 shares of the financial services provider's stock worth $1,329,683,000 after buying an additional 4,153,080 shares during the period. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on USB shares. Truist Financial dropped their target price 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. Royal Bank Of Canada upped their price target on shares of U.S. Bancorp from $59.00 to $61.00 and gave the company an "outperform" rating in a report on Friday, April 17th. DA Davidson reaffirmed a "buy" rating and issued a $65.00 price target on shares of U.S. Bancorp in a research report on Friday, April 17th. Piper Sandler reiterated a "buy" rating on shares of U.S. Bancorp in a research note on Thursday, February 26th. Finally, Stephens started coverage on U.S. Bancorp in a research report on Monday, June 15th. They set an "equal weight" rating and a $63.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $61.29.

Insider Activity at U.S. Bancorp

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

U.S. Bancorp Stock Performance

NYSE:USB opened at $58.62 on Tuesday. The firm's 50-day moving average is $55.73 and its 200-day moving average is $54.96. U.S. Bancorp has a 52-week low of $42.93 and a 52-week high of $61.19. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market cap of $90.93 billion, a price-to-earnings ratio of 12.29, a PEG ratio of 1.01 and a beta of 0.97.

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 EPS for the quarter, beating analysts' consensus estimates of $1.14 by $0.04. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. The business had revenue of $7.32 billion during the quarter, compared to analyst estimates of $7.27 billion. During the same quarter in the prior year, the business earned $1.03 earnings per share. The firm's revenue for the quarter was up 4.7% on a year-over-year basis. Equities research analysts anticipate that U.S. Bancorp will post 5.08 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.08 annualized dividend and a yield of 3.5%. U.S. Bancorp's dividend payout ratio is 43.61%.

U.S. Bancorp 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.

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