U.S. Bancorp (NYSE:USB) Shares Purchased by New Age Alpha Advisors LLC

Key Points

• New Age Alpha Advisors LLC increased its holdings in U.S. Bancorp by 12.4%, owning 57,079 shares valued at approximately $2.41 million as of the latest SEC filing.
• U.S. Bancorp reported earnings of $1.11 per share for the last quarter, surpassing expectations and reflecting a 2.0% year-over-year revenue growth.
• The company recently announced a quarterly dividend of $0.50 per share, equating to an annualized dividend of $2.00 and a dividend yield of 4.5%.

New Age Alpha Advisors LLC increased its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 12.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 57,079 shares of the financial services provider's stock after purchasing an additional 6,278 shares during the period. New Age Alpha Advisors LLC's holdings in U.S. Bancorp were worth $2,410,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Westend Capital Management LLC acquired a new stake in U.S. Bancorp in the first quarter valued at approximately $27,000. REAP Financial Group LLC boosted its stake in U.S. Bancorp by 86.1% in the fourth quarter. REAP Financial Group LLC now owns 642 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 297 shares in the last quarter. YANKCOM Partnership boosted its stake in U.S. Bancorp by 59.4% in the first quarter. YANKCOM Partnership now owns 698 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 260 shares in the last quarter. Alpine Bank Wealth Management acquired a new stake in U.S. Bancorp in the first quarter valued at approximately $30,000. Finally, Rakuten Securities Inc. boosted its stake in U.S. Bancorp by 1,212.1% in the first quarter. Rakuten Securities Inc. now owns 761 shares of the financial services provider's stock valued at $32,000 after acquiring an additional 703 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors.

U.S. Bancorp Stock Performance

NYSE:USB traded up $0.77 during mid-day trading on Friday, hitting $44.86. The company's stock had a trading volume of 6,066,952 shares, compared to its average volume of 11,320,853. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $53.98. 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 has a market cap of $69.89 billion, a price-to-earnings ratio of 10.73, a PEG ratio of 1.38 and a beta of 1.01. The business's fifty day moving average is $45.27 and its two-hundred day moving average is $43.96.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its earnings results on Thursday, July 17th. The financial services provider reported $1.11 earnings per share (EPS) 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 business 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 company posted $0.98 EPS. The company's revenue for the quarter was up 2.0% on a year-over-year basis. Analysts anticipate 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 was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend was Monday, June 30th. U.S. Bancorp's dividend payout ratio is presently 47.85%.

Insider Activity

In other news, EVP Souheil Badran sold 23,727 shares of the stock in a transaction dated Monday, July 21st. The shares were 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 $3,259,833.64. This represents a 25.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.23% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on USB shares. Wells Fargo & Company lowered 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 note on Thursday, April 17th. Piper Sandler lowered their target price on shares of U.S. Bancorp from $49.00 to $48.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Wall Street Zen upgraded shares of U.S. Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Keefe, Bruyette & Woods lowered their price objective on shares of U.S. Bancorp from $54.00 to $49.00 and set a "market perform" rating for the company in a research note on Thursday, April 17th. Finally, Royal Bank Of Canada lowered their price objective on shares of U.S. Bancorp from $57.00 to $50.00 and set an "outperform" rating for the company in a research note on Thursday, April 17th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $52.55.

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.