Keudell Morrison Wealth Management Acquires Shares of 53,527 U.S. Bancorp $USB

Key Points

• Keudell Morrison Wealth Management opened a new position in U.S. Bancorp, buying 53,527 shares valued at about $2.86 million in the fourth quarter.
• U.S. Bancorp recently reported better-than-expected earnings, with quarterly EPS of $1.18 versus estimates of $1.14 and revenue of $7.32 billion, up 4.7% year over year.
• Analyst sentiment remains constructive, with several firms reiterating or raising ratings and the stock carrying a Moderate Buy consensus and a $61.20 average price target.

Keudell Morrison Wealth Management acquired a new stake in shares of U.S. Bancorp (NYSE:USB - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 53,527 shares of the financial services provider's stock, valued at approximately $2,856,000.

Other large investors have also recently added to or reduced their stakes in the company. Citigroup Inc. lifted its position in shares of U.S. Bancorp by 2.4% in the 3rd quarter. Citigroup Inc. now owns 1,749,812 shares of the financial services provider's stock worth $84,568,000 after buying an additional 41,803 shares during the last quarter. Jones Financial Companies Lllp lifted its position in shares of U.S. Bancorp by 15.3% in the 3rd quarter. Jones Financial Companies Lllp now owns 358,972 shares of the financial services provider's stock worth $17,738,000 after buying an additional 47,537 shares during the last quarter. Danske Bank A S bought a new position in shares of U.S. Bancorp in the 3rd quarter worth about $37,162,000. Roman Butler Fullerton & Co. bought a new position in shares of U.S. Bancorp in the 3rd quarter worth about $893,000. Finally, Nordea Investment Management AB lifted its position in shares of U.S. Bancorp by 15.3% in the 4th quarter. Nordea Investment Management AB now owns 2,690,174 shares of the financial services provider's stock worth $144,462,000 after buying an additional 357,300 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on USB shares. Piper Sandler restated a "buy" rating on shares of U.S. Bancorp in a research report on Thursday, February 26th. Barclays raised their price target on shares of U.S. Bancorp from $65.00 to $67.00 and gave the stock an "overweight" rating in a research report on Friday, April 17th. Weiss Ratings upgraded shares of U.S. Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, May 4th. DA Davidson reiterated a "buy" rating and issued a $65.00 price objective on shares of U.S. Bancorp in a research report on Friday, April 17th. Finally, Oppenheimer lifted their price objective on shares of U.S. Bancorp from $73.00 to $74.00 and gave the company an "outperform" rating in a research report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, U.S. Bancorp presently has a consensus rating of "Moderate Buy" and a consensus target price of $61.20.

U.S. Bancorp Trading Up 0.2%

Shares of NYSE:USB opened at $54.59 on Friday. The company has a market cap of $84.75 billion, a PE ratio of 11.45, a P/E/G ratio of 0.98 and a beta of 1.00. The company's 50-day moving average price is $54.02 and its 200 day moving average price is $53.63. U.S. Bancorp has a fifty-two week low of $42.21 and a fifty-two week high of $61.19. 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 released its earnings results on Thursday, April 16th. The financial services provider reported $1.18 EPS for the quarter, beating the consensus estimate of $1.14 by $0.04. The firm had revenue of $7.32 billion for the quarter, compared to analysts' expectations of $7.27 billion. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. U.S. Bancorp's quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the company earned $1.03 EPS. Sell-side analysts anticipate that U.S. Bancorp will post 5.09 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $2.08 annualized dividend and a yield of 3.8%. U.S. Bancorp's dividend payout ratio (DPR) is presently 43.61%.

Insider Activity

In other U.S. Bancorp news, EVP Venkatachari Dilip sold 34,522 shares of the firm's stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the transaction, the executive vice president owned 51,292 shares of the company's stock, valued at approximately $2,847,731.84. This trade represents a 40.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jodi L. Richard sold 40,000 shares of the firm's stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the transaction, the insider directly owned 207,251 shares in the company, valued at approximately $11,813,307. The trade was a 16.18% decrease in their position. The SEC filing for this sale provides additional information. 0.21% of the stock is currently owned by company insiders.

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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