U.S. Bancorp (NYSE:USB) Shares Bought by Wealthspire Advisors LLC

Key Points

• Wealthspire Advisors LLC increased its stake in U.S. Bancorp by 81.2% during the first quarter, now holding 77,916 shares valued at approximately $3.29 million.
• U.S. Bancorp's recent quarterly earnings exceeded estimates, reporting an EPS of $1.11, and the company also announced a quarterly dividend of $0.50 per share with a yield of 4.5%.
• Institutional ownership of U.S. Bancorp is significant, with 77.60% of the stock owned by institutional investors and hedge funds, indicating strong market confidence in the company.

Wealthspire Advisors LLC raised its position in U.S. Bancorp (NYSE:USB - Free Report) by 81.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,916 shares of the financial services provider's stock after acquiring an additional 34,916 shares during the quarter. Wealthspire Advisors LLC's holdings in U.S. Bancorp were worth $3,290,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Northern Trust Corp grew its position in U.S. Bancorp by 10.9% in the 4th quarter. Northern Trust Corp now owns 17,050,568 shares of the financial services provider's stock valued at $815,529,000 after acquiring an additional 1,670,305 shares in the last quarter. Invesco Ltd. grew its position in U.S. Bancorp by 48.1% in the 4th quarter. Invesco Ltd. now owns 16,787,513 shares of the financial services provider's stock valued at $802,947,000 after acquiring an additional 5,449,949 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in U.S. Bancorp by 11.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,574,919 shares of the financial services provider's stock valued at $601,458,000 after acquiring an additional 1,339,493 shares in the last quarter. Federated Hermes Inc. grew its position in U.S. Bancorp by 0.3% in the 1st quarter. Federated Hermes Inc. now owns 9,485,614 shares of the financial services provider's stock valued at $400,483,000 after acquiring an additional 27,566 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in U.S. Bancorp by 0.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 8,515,117 shares of the financial services provider's stock valued at $407,329,000 after acquiring an additional 28,173 shares in the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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

Analyst Ratings Changes

USB has been the subject of several research reports. Cowen began coverage on U.S. Bancorp in a research report on Wednesday, May 14th. They issued a "buy" rating for the company. Oppenheimer lifted their price objective on U.S. Bancorp from $66.00 to $67.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Morgan Stanley lifted their price objective on U.S. Bancorp from $51.00 to $52.00 and gave the company an "overweight" rating in a research note on Friday, July 18th. Piper Sandler decreased their price objective on 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. Finally, Wall Street Zen upgraded U.S. Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $52.55.

U.S. Bancorp Trading Up 0.4%

USB opened at $44.58 on Wednesday. The firm has a market cap of $69.46 billion, a price-to-earnings ratio of 10.67, a price-to-earnings-growth ratio of 1.39 and a beta of 1.01. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $53.98. The business's 50 day moving average is $45.22 and its two-hundred day moving average is $44.02. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.16.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The financial services provider reported $1.11 EPS for the quarter, topping the consensus estimate of $1.07 by $0.04. The company had revenue of $7.06 billion for the quarter, compared to analyst estimates of $7.07 billion. U.S. Bancorp had a return on equity of 13.08% and a net margin of 16.30%. The firm's revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.98 earnings per share. On average, research analysts predict that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.5%. U.S. Bancorp's payout ratio is presently 47.85%.

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.

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