Sagespring Wealth Partners LLC Raises Stake in U.S. Bancorp $USB

Sagespring Wealth Partners LLC raised its position in shares of U.S. Bancorp (NYSE:USB - Free Report) by 44.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,861 shares of the financial services provider's stock after purchasing an additional 7,610 shares during the quarter. Sagespring Wealth Partners LLC's holdings in U.S. Bancorp were worth $1,125,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in U.S. Bancorp by 1.7% during the first quarter. Vanguard Group Inc. now owns 141,230,279 shares of the financial services provider's stock valued at $5,962,742,000 after purchasing an additional 2,393,383 shares in the last quarter. Amundi lifted its holdings in U.S. Bancorp by 2.2% during the first quarter. Amundi now owns 19,907,665 shares of the financial services provider's stock valued at $773,268,000 after purchasing an additional 422,050 shares in the last quarter. Davis Selected Advisers lifted its holdings in shares of U.S. Bancorp by 3.6% in the first quarter. Davis Selected Advisers now owns 14,889,014 shares of the financial services provider's stock worth $628,614,000 after buying an additional 513,875 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of U.S. Bancorp by 0.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 12,679,104 shares of the financial services provider's stock worth $535,312,000 after buying an additional 104,185 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of U.S. Bancorp by 10.5% in the first quarter. Goldman Sachs Group Inc. now owns 11,012,635 shares of the financial services provider's stock worth $464,953,000 after buying an additional 1,045,509 shares in the last quarter. Hedge funds and other 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 business's stock in a transaction 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 sale, the executive vice president owned 70,346 shares in the company, valued at approximately $3,259,833.64. The trade was a 25.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.23% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on USB shares. Citigroup boosted their target price on shares of U.S. Bancorp from $59.00 to $65.00 and gave the stock a "buy" rating in a report on Friday, September 19th. Truist Financial boosted their target price on shares of U.S. Bancorp from $49.00 to $51.00 and gave the stock a "hold" rating in a report on Wednesday, September 17th. Evercore ISI boosted their target price on shares of U.S. Bancorp from $49.00 to $54.00 and gave the stock an "in-line" rating in a report on Tuesday, September 30th. Raymond James Financial raised shares of U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and boosted their target price for the stock from $51.00 to $57.00 in a report on Monday, July 7th. Finally, DA Davidson boosted their target price on shares of U.S. Bancorp from $49.00 to $52.00 and gave the stock a "buy" rating in a report on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, U.S. Bancorp currently has an average rating of "Moderate Buy" and a consensus target price of $53.11.

U.S. Bancorp Trading Down 1.4%

Shares of USB opened at $46.43 on Thursday. The company's fifty day moving average is $47.88 and its 200 day moving average is $44.76. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two week high of $53.98. The stock has a market capitalization of $72.26 billion, a PE ratio of 11.11, a P/E/G ratio of 1.38 and a beta of 1.06. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.81 and a current ratio of 0.81.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its quarterly 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. 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 analysts' expectations of $7.07 billion. During the same quarter in the previous year, the business posted $0.98 earnings per share. U.S. Bancorp's quarterly revenue was up 2.0% on a year-over-year basis. Sell-side analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were given a $0.52 dividend. This is a boost from U.S. Bancorp's previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a yield of 4.5%. The ex-dividend date was Tuesday, September 30th. U.S. Bancorp's dividend payout ratio (DPR) is presently 49.76%.

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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