Private Advisor Group LLC Has $4.55 Million Stock Holdings in U.S. Bancorp (NYSE:USB)

Private Advisor Group LLC decreased its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 8.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 107,753 shares of the financial services provider's stock after selling 9,499 shares during the quarter. Private Advisor Group LLC's holdings in U.S. Bancorp were worth $4,549,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Westend Capital Management LLC bought a new stake in shares of U.S. Bancorp in the 1st quarter worth approximately $27,000. YANKCOM Partnership lifted its position in U.S. Bancorp by 59.4% in the first quarter. YANKCOM Partnership now owns 698 shares of the financial services provider's stock worth $29,000 after purchasing an additional 260 shares during the period. Alpine Bank Wealth Management acquired a new stake in U.S. Bancorp during the first quarter worth $30,000. Millstone Evans Group LLC acquired a new position in shares of U.S. Bancorp in the 4th quarter valued at $31,000. Finally, REAP Financial Group LLC raised its stake in shares of U.S. Bancorp by 86.1% in the 4th quarter. REAP Financial Group LLC now owns 642 shares of the financial services provider's stock valued at $31,000 after buying an additional 297 shares in the last quarter. Institutional investors own 77.60% of the company's stock.

Insiders Place Their Bets

In related news, EVP Souheil Badran sold 23,727 shares of the stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $46.34, for a total value of $1,099,509.18. Following the transaction, the executive vice president directly owned 70,346 shares in the company, valued at $3,259,833.64. This represents a 25.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.23% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on USB shares. TD Cowen initiated coverage on shares of U.S. Bancorp in a research note on Thursday, May 15th. They issued a "buy" rating and a $60.00 target price on the stock. Wall Street Zen upgraded U.S. Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Truist Financial upped their price objective on U.S. Bancorp from $48.00 to $50.00 and gave the company a "hold" rating in a research note on Wednesday, July 9th. Raymond James Financial upgraded U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and upped their price objective for the company from $51.00 to $57.00 in a research note on Monday, July 7th. Finally, Wolfe Research upgraded U.S. Bancorp from a "peer perform" rating to an "outperform" rating and set a $49.00 price objective on the stock in a research note on Thursday, April 3rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $52.50.

U.S. Bancorp Price Performance

Shares of USB stock traded up $0.26 during trading hours on Friday, reaching $46.32. 8,082,037 shares of the company were exchanged, compared to its average volume of 12,850,706. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two week high of $53.98. The stock's fifty day moving average is $44.99 and its two-hundred day moving average is $44.22. The company has a market cap of $72.16 billion, a price-to-earnings ratio of 11.08, a P/E/G ratio of 1.45 and a beta of 0.99. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.81 and a quick ratio of 0.81.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its earnings results on Thursday, July 17th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.07 by $0.04. U.S. Bancorp had a net margin of 16.30% and a return on equity of 13.08%. The company 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 business earned $0.98 earnings per share. U.S. Bancorp's quarterly revenue was up 2.0% on a year-over-year basis. Sell-side analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a $0.50 dividend. The ex-dividend date was Monday, June 30th. This represents a $2.00 annualized dividend and a yield of 4.32%. U.S. Bancorp's dividend payout ratio is currently 47.85%.

U.S. Bancorp 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.