HB Wealth Management LLC Boosts Stock Holdings in U.S. Bancorp (NYSE:USB)

Key Points

• HB Wealth Management LLC increased its stake in U.S. Bancorp by 10.4%, acquiring 20,199 shares during the first quarter, resulting in a total ownership of 214,235 shares worth approximately $9.05 million.
• U.S. Bancorp reported earnings of $1.11 per share for the last quarter, exceeding analyst expectations and achieving a revenue of $7.06 billion, a 2.0% increase compared to the previous year.
• The company paid a quarterly dividend of $0.50 per share, translating to an annualized dividend yield of 4.32%, with a dividend payout ratio of 47.85%.

HB Wealth Management LLC lifted its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 10.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 214,235 shares of the financial services provider's stock after purchasing an additional 20,199 shares during the quarter. HB Wealth Management LLC's holdings in U.S. Bancorp were worth $9,045,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. FMR LLC increased its holdings in U.S. Bancorp by 5.0% during the 4th quarter. FMR LLC now owns 67,125,746 shares of the financial services provider's stock worth $3,210,624,000 after purchasing an additional 3,211,815 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of U.S. Bancorp by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 33,937,360 shares of the financial services provider's stock valued at $1,618,948,000 after buying an additional 850,763 shares in the last quarter. Northern Trust Corp lifted its stake in shares of U.S. Bancorp by 10.9% in the 4th quarter. Northern Trust Corp now owns 17,050,568 shares of the financial services provider's stock valued at $815,529,000 after purchasing an additional 1,670,305 shares during the last quarter. Invesco Ltd. raised its holdings in U.S. Bancorp by 48.1% in the 4th quarter. Invesco Ltd. now owns 16,787,513 shares of the financial services provider's stock worth $802,947,000 after acquiring an additional 5,449,949 shares during the period. Finally, Grantham Mayo Van Otterloo & Co. LLC lifted its position in U.S. Bancorp by 0.9% during the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 12,935,847 shares of the financial services provider's stock worth $618,722,000 after acquiring an additional 120,543 shares during the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

U.S. Bancorp Stock Up 0.7%

Shares of NYSE:USB traded up $0.31 during trading hours on Wednesday, hitting $46.40. The company's stock had a trading volume of 1,850,010 shares, compared to its average volume of 10,849,697. 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 company has a market capitalization of $72.30 billion, a price-to-earnings ratio of 11.11, a P/E/G ratio of 1.45 and a beta of 0.99. The firm's fifty day moving average price is $45.05 and its 200 day moving average price is $44.16. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $53.98.

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

U.S. Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.31%. The ex-dividend date of this dividend was Monday, June 30th. U.S. Bancorp's payout ratio is 47.85%.

Insider Buying and Selling

In other U.S. Bancorp news, EVP Souheil Badran sold 23,727 shares of U.S. Bancorp stock in a transaction that occurred on Monday, July 21st. The shares were 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 in the company, valued at approximately $3,259,833.64. The trade was a 25.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.23% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on USB shares. Morgan Stanley boosted their price target on U.S. Bancorp from $51.00 to $52.00 and gave the company an "overweight" rating in a research note on Friday, July 18th. TD Cowen assumed coverage on U.S. Bancorp in a report on Thursday, May 15th. They issued a "buy" rating and a $60.00 target price on the stock. Wells Fargo & Company lowered their price objective on shares of U.S. Bancorp from $56.00 to $50.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Cowen assumed coverage on shares of U.S. Bancorp in a research report on Wednesday, May 14th. They issued a "buy" rating for the company. Finally, Evercore ISI raised their price objective on shares of U.S. Bancorp from $44.00 to $49.00 and gave the company an "in-line" rating in a research report on Wednesday, June 4th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, U.S. Bancorp has a consensus rating of "Moderate Buy" and a consensus 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.