Mutual Advisors LLC Has $3.17 Million Stock Position in U.S. Bancorp $USB

Key Points

• Mutual Advisors LLC increased its stake in U.S. Bancorp by 19.3% during the second quarter, now holding $3.17 million worth of shares.
• Several analysts have raised their price targets for U.S. Bancorp, with Citigroup setting a new target of $65.00 and maintaining a "buy" rating.
• U.S. Bancorp recently increased its quarterly dividend to $0.52, reflecting a yield of 4.5%, up from the previous $0.50 dividend.

Mutual Advisors LLC lifted its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 19.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 68,482 shares of the financial services provider's stock after purchasing an additional 11,090 shares during the period. Mutual Advisors LLC's holdings in U.S. Bancorp were worth $3,172,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in USB. Saudi Central Bank bought a new stake in shares of U.S. Bancorp during the 1st quarter worth approximately $26,000. Westend Capital Management LLC bought a new stake in shares of U.S. Bancorp during the 1st quarter worth approximately $27,000. YANKCOM Partnership raised its stake in shares of U.S. Bancorp by 59.4% during the 1st quarter. YANKCOM Partnership now owns 698 shares of the financial services provider's stock worth $29,000 after purchasing an additional 260 shares in the last quarter. Alpine Bank Wealth Management bought a new stake in shares of U.S. Bancorp during the 1st quarter worth approximately $30,000. Finally, Cornerstone Planning Group LLC raised its stake in shares of U.S. Bancorp by 118.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 776 shares of the financial services provider's stock worth $31,000 after purchasing an additional 420 shares in the last quarter. Institutional investors own 77.60% of the company's stock.

Wall Street Analysts Forecast Growth

USB has been the topic of a number of analyst reports. Truist Financial upped their price objective on U.S. Bancorp from $49.00 to $51.00 and gave the stock a "hold" rating in a research note on Wednesday, September 17th. Citigroup upped their price objective on U.S. Bancorp from $59.00 to $65.00 and gave the stock a "buy" rating in a research note on Friday, September 19th. Oppenheimer dropped their price target on U.S. Bancorp from $67.00 to $66.00 and set an "outperform" rating on the stock in a research note on Tuesday, September 23rd. Evercore ISI increased their price target on U.S. Bancorp from $49.00 to $54.00 and gave the company an "in-line" rating in a research note on Tuesday, September 30th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of U.S. Bancorp in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, U.S. Bancorp has an average rating of "Moderate Buy" and a consensus price target of $53.11.

Insider Activity

In other news, EVP Souheil Badran sold 23,727 shares of the stock in a transaction on Monday, July 21st. The stock was sold at an average price of $46.34, for a total transaction of $1,099,509.18. Following the sale, the executive vice president directly owned 70,346 shares of the company's stock, valued at approximately $3,259,833.64. This represents a 25.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.23% of the company's stock.

U.S. Bancorp Stock Performance

Shares of NYSE USB opened at $46.43 on Thursday. 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 stock's fifty day moving average price is $47.88 and its two-hundred day moving average price is $44.76. U.S. Bancorp has a one year low of $35.18 and a one year high of $53.98. The firm has a market cap of $72.26 billion, a price-to-earnings ratio of 11.11, a P/E/G ratio of 1.38 and a beta of 1.06.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The financial services provider reported $1.11 EPS for the quarter, beating analysts' consensus estimates of $1.07 by $0.04. U.S. Bancorp had a return on equity of 13.08% and a net margin of 16.30%.The firm had revenue of $7.06 billion for the quarter, compared to analyst estimates of $7.07 billion. During the same period in the prior year, the firm posted $0.98 EPS. The company's revenue for the quarter was up 2.0% on a year-over-year basis. On average, equities analysts forecast that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were issued a $0.52 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $2.08 dividend on an annualized basis and a yield of 4.5%. This is a positive change from U.S. Bancorp's previous quarterly dividend of $0.50. U.S. Bancorp's payout ratio is currently 49.76%.

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.

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