SteelPeak Wealth LLC Increases Position in U.S. Bancorp (NYSE:USB)

SteelPeak Wealth LLC boosted its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 9.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 197,948 shares of the financial services provider's stock after buying an additional 17,656 shares during the quarter. SteelPeak Wealth LLC's holdings in U.S. Bancorp were worth $8,456,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Westend Capital Management LLC acquired a new stake in shares of U.S. Bancorp during the first quarter worth $27,000. YANKCOM Partnership lifted its stake in shares of U.S. Bancorp by 59.4% during the first quarter. YANKCOM Partnership now owns 698 shares of the financial services provider's stock worth $29,000 after buying an additional 260 shares during the period. Picton Mahoney Asset Management acquired a new position in U.S. Bancorp during the fourth quarter valued at $30,000. Alpine Bank Wealth Management acquired a new position in U.S. Bancorp during the first quarter valued at $30,000. Finally, Millstone Evans Group LLC acquired a new position in U.S. Bancorp during the fourth quarter valued at $31,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Price Performance

NYSE USB traded down $0.44 during trading hours on Friday, hitting $47.13. 11,510,101 shares of the company's stock traded hands, compared to its average volume of 9,408,922. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $53.98. The company has a market capitalization of $73.43 billion, a PE ratio of 11.67, a PEG ratio of 1.79 and a beta of 0.99. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.80 and a quick ratio of 0.80. The firm's 50-day moving average is $44.39 and its 200-day moving average is $44.39.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its earnings results on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.06. The company had revenue of $6.96 billion for the quarter, compared to analyst estimates of $6.92 billion. U.S. Bancorp had a net margin of 15.70% and a return on equity of 13.02%. During the same period in the previous year, the business posted $0.78 EPS. Equities analysts forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a $0.50 dividend. The ex-dividend date is Monday, June 30th. This represents a $2.00 annualized dividend and a yield of 4.24%. U.S. Bancorp's payout ratio is 49.50%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Wells Fargo & Company decreased their target price on shares of U.S. Bancorp from $56.00 to $50.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Evercore ISI boosted their target price on shares of U.S. Bancorp from $44.00 to $49.00 and gave the company an "in-line" rating in a research report on Wednesday, June 4th. Morgan Stanley boosted their target price on shares of U.S. Bancorp from $50.00 to $51.00 and gave the company an "overweight" rating in a research report on Thursday, July 3rd. DA Davidson decreased their target price on shares of U.S. Bancorp from $54.00 to $49.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Finally, Oppenheimer boosted their target price on shares of U.S. Bancorp from $57.00 to $59.00 and gave the company an "outperform" rating in a research report on Monday, April 28th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $51.70.

Insiders Place Their Bets

In other news, Director Aleem Gillani bought 5,000 shares of the firm'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 acquisition, the director directly owned 15,000 shares of the company's stock, valued at $559,800. This trade represents a 50.00% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 0.23% of the stock is owned by insiders.

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.