Global Retirement Partners LLC Has $3.30 Million Stock Holdings in U.S. Bancorp $USB

Key Points

• Global Retirement Partners LLC increased its U.S. Bancorp stake by 46.4% in the fourth quarter, buying 19,582 additional shares to bring its total to 61,782 shares valued at about $3.3 million.
• U.S. Bancorp reported better-than-expected first-quarter results, posting $1.18 EPS versus the $1.14 consensus and revenue of $7.32 billion, up 4.7% year over year.
• The stock also carries a 3.8% dividend yield with a quarterly payout of $0.52, while analysts remain mixed but overall rate USB as a Moderate Buy with an average price target of $61.20.

Global Retirement Partners LLC raised its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 46.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 61,782 shares of the financial services provider's stock after purchasing an additional 19,582 shares during the period. Global Retirement Partners LLC's holdings in U.S. Bancorp were worth $3,297,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in USB. SG Americas Securities LLC boosted its stake in 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 valued at $231,191,000 after purchasing an additional 4,210,676 shares during the last quarter. Davis Selected Advisers boosted its stake in U.S. Bancorp by 13.4% during the 4th quarter. Davis Selected Advisers now owns 22,041,759 shares of the financial services provider's stock valued at $1,176,148,000 after purchasing an additional 2,610,197 shares during the last quarter. AQR Capital Management LLC boosted its stake in U.S. Bancorp by 354.5% during the 2nd quarter. AQR Capital Management LLC now owns 2,855,350 shares of the financial services provider's stock valued at $129,205,000 after purchasing an additional 2,227,103 shares during the last quarter. Vanguard Group Inc. boosted its stake in U.S. Bancorp by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 146,376,783 shares of the financial services provider's stock valued at $7,810,665,000 after purchasing an additional 1,828,404 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC boosted its stake in U.S. Bancorp by 16.4% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 11,598,572 shares of the financial services provider's stock valued at $560,559,000 after purchasing an additional 1,631,550 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company's stock.

U.S. Bancorp Price Performance

Shares of NYSE USB opened at $54.85 on Friday. U.S. Bancorp has a twelve month low of $42.21 and a twelve month high of $61.19. The stock's 50 day moving average price is $54.07 and its 200-day moving average price is $53.64. The company has a market capitalization of $85.14 billion, a PE ratio of 11.50, a PEG ratio of 0.98 and a beta of 1.00. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.03.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share for the quarter, topping analysts' consensus estimates of $1.14 by $0.04. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.The firm had revenue of $7.32 billion for the quarter, compared to the consensus estimate of $7.27 billion. During the same quarter in the previous year, the business earned $1.03 EPS. The company's revenue was up 4.7% compared to the same quarter last year. On average, equities analysts anticipate that U.S. Bancorp will post 5.09 EPS for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Tuesday, March 31st. U.S. Bancorp's payout ratio is presently 43.61%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on USB shares. JPMorgan Chase & Co. cut their price target on U.S. Bancorp from $58.00 to $57.50 and set an "underweight" rating for the company in a research note on Thursday, April 30th. Evercore lifted their price target on U.S. Bancorp from $60.00 to $65.00 and gave the company an "in-line" rating in a research note on Thursday, February 5th. Barclays lifted their price target on U.S. Bancorp from $65.00 to $67.00 and gave the company an "overweight" rating in a research note 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, Jefferies Financial Group reiterated a "hold" rating and set a $60.00 price target on shares of U.S. Bancorp in a research note on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $61.20.

Insider Buying and Selling

In other news, insider Jodi L. Richard sold 40,000 shares of the business's 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 transaction, the insider owned 207,251 shares in the company, valued at $11,813,307. The trade was a 16.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Venkatachari Dilip sold 34,522 shares of U.S. Bancorp stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the completion of the sale, the executive vice president directly owned 51,292 shares in the company, valued at $2,847,731.84. This trade represents a 40.23% decrease in their position. The SEC filing for this sale provides additional information. 0.21% of the stock is owned by insiders.

U.S. Bancorp Company 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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