Professional Advisory Services Inc. Purchases 37,988 Shares of U.S. Bancorp (NYSE:USB)

Professional Advisory Services Inc. grew its position in U.S. Bancorp (NYSE:USB - Free Report) by 9.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 436,557 shares of the financial services provider's stock after purchasing an additional 37,988 shares during the quarter. U.S. Bancorp makes up approximately 2.6% of Professional Advisory Services Inc.'s portfolio, making the stock its 24th largest holding. Professional Advisory Services Inc.'s holdings in U.S. Bancorp were worth $18,431,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Wynn Capital LLC bought a new position in U.S. Bancorp during the first quarter worth $415,000. KMG Fiduciary Partners LLC increased its position in U.S. Bancorp by 6.0% during the first quarter. KMG Fiduciary Partners LLC now owns 67,623 shares of the financial services provider's stock worth $2,855,000 after acquiring an additional 3,829 shares during the period. Perennial Advisors LLC increased its position in U.S. Bancorp by 7.8% during the first quarter. Perennial Advisors LLC now owns 99,723 shares of the financial services provider's stock worth $4,211,000 after acquiring an additional 7,241 shares during the period. City State Bank increased its position in U.S. Bancorp by 3.1% during the first quarter. City State Bank now owns 9,876 shares of the financial services provider's stock worth $417,000 after acquiring an additional 300 shares during the period. Finally, Procyon Advisors LLC increased its holdings in U.S. Bancorp by 34.3% in the 1st quarter. Procyon Advisors LLC now owns 27,214 shares of the financial services provider's stock valued at $1,056,000 after buying an additional 6,945 shares during the period. Institutional investors own 77.60% of the company's stock.

U.S. Bancorp Stock Up 2.5%

Shares of NYSE USB opened at $44.76 on Friday. The firm's 50-day simple moving average is $41.15 and its 200 day simple moving average is $45.36. The company has a market cap of $69.74 billion, a price-to-earnings ratio of 11.81, a price-to-earnings-growth ratio of 1.73 and a beta of 0.99. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. U.S. Bancorp has a 12-month low of $35.18 and a 12-month high of $53.98.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.06. The business had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $6.92 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. During the same quarter in the prior year, the company earned $0.78 EPS. On average, research analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a yield of 4.47%. U.S. Bancorp's payout ratio is presently 49.50%.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, Director Aleem Gillani bought 5,000 shares of the business's stock in a transaction on Monday, April 21st. The shares were bought at an average cost of $37.32 per share, for a total transaction of $186,600.00. Following the transaction, the director now owns 15,000 shares in the company, valued at approximately $559,800. This trade represents a 50.00% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.23% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on USB. Royal Bank of Canada lowered their price target on shares of U.S. Bancorp from $57.00 to $50.00 and set an "outperform" rating on the stock in a report on Thursday, April 17th. Piper Sandler lowered their price target on shares of U.S. Bancorp from $49.00 to $48.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. DA Davidson lowered their price target on shares of U.S. Bancorp from $54.00 to $49.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Morgan Stanley lowered their price target on shares of U.S. Bancorp from $51.00 to $50.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of U.S. Bancorp from $54.00 to $49.00 and set a "market perform" rating on the stock in a report on Thursday, April 17th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $50.67.

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.

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