U.S. Bancorp $USB Shares Purchased by Corient Private Wealth LP

Key Points

• Corient Private Wealth increased its U.S. Bancorp stake by 4.4% in the second quarter, bringing its holdings to 446,932 shares valued at approximately $27 million. Institutional investors collectively own 77.6% of the company.
• U.S. Bancorp reported quarterly EPS of $1.35, exceeding estimates of $1.28, while revenue reached $7.69 billion. The company raised its quarterly dividend from $0.52 to $0.54 per share, implying a 3.4% annual yield.
• Analysts maintain a generally positive view, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $67.06. Meanwhile, CEO Gunjan Kedia and insider Stephen L. Philipson sold shares during the period.

Corient Private Wealth LP boosted its stake in U.S. Bancorp (NYSE:USB - Free Report) by 4.4% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 446,932 shares of the financial services provider's stock after buying an additional 18,840 shares during the quarter. Corient Private Wealth LP's holdings in U.S. Bancorp were worth $27,002,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of USB. Dogwood Wealth Management LLC raised its holdings in shares of U.S. Bancorp by 32.9% in the second quarter. Dogwood Wealth Management LLC now owns 687 shares of the financial services provider's stock worth $41,000 after acquiring an additional 170 shares during the last quarter. Blalock Williams LLC boosted its stake in shares of U.S. Bancorp by 3.8% during the second quarter. Blalock Williams LLC now owns 4,680 shares of the financial services provider's stock valued at $283,000 after acquiring an additional 171 shares during the last quarter. Flputnam Investment Management Co. increased its position in U.S. Bancorp by 1.4% during the 4th quarter. Flputnam Investment Management Co. now owns 13,721 shares of the financial services provider's stock worth $732,000 after purchasing an additional 186 shares in the last quarter. Formidable Asset Management LLC increased its position in U.S. Bancorp by 0.8% during the 1st quarter. Formidable Asset Management LLC now owns 23,373 shares of the financial services provider's stock worth $1,247,000 after purchasing an additional 186 shares in the last quarter. Finally, FAS Wealth Partners Inc. raised its stake in U.S. Bancorp by 0.9% in the 1st quarter. FAS Wealth Partners Inc. now owns 19,964 shares of the financial services provider's stock valued at $1,038,000 after purchasing an additional 186 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company's stock.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, insider Stephen L. Philipson sold 36,906 shares of the business's stock in a transaction on Monday, July 20th. The shares were sold at an average price of $63.08, for a total value of $2,328,030.48. Following the transaction, the insider owned 74,969 shares in the company, valued at $4,729,044.52. The trade was a 32.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Gunjan Kedia sold 27,267 shares of the company's stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $62.37, for a total value of $1,700,642.79. Following the completion of the transaction, the chief executive officer directly owned 426,262 shares in the company, valued at approximately $26,585,960.94. The trade was a 6.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.21% of the company's stock.

U.S. Bancorp Trading Up 0.0%

NYSE USB opened at $62.86 on Monday. The company has a market cap of $97.94 billion, a P/E ratio of 12.55, a P/E/G ratio of 1.12 and a beta of 0.95. U.S. Bancorp has a 12 month low of $45.02 and a 12 month high of $66.07. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.83 and a quick ratio of 0.82. The company has a 50-day moving average of $63.20 and a 200-day moving average of $58.04.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its earnings results on Thursday, July 16th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.07. U.S. Bancorp had a net margin of 18.49% and a return on equity of 13.69%. The business had revenue of $7.69 billion for the quarter, compared to analysts' expectations of $7.58 billion. During the same period last year, the company earned $1.11 earnings per share. As a group, equities analysts predict that U.S. Bancorp will post 5.22 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Wednesday, September 30th. This is a positive change from U.S. Bancorp's previous quarterly dividend of $0.52. U.S. Bancorp's payout ratio is currently 41.52%.

Analysts Set New Price Targets

Several research firms have issued reports on USB. JPMorgan Chase & Co. raised their price target on shares of U.S. Bancorp from $67.50 to $69.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 29th. Citigroup reissued a "buy" rating on shares of U.S. Bancorp in a research note on Tuesday, July 21st. Raymond James Financial assumed coverage on shares of U.S. Bancorp in a research report on Wednesday, July 8th. They set a "strong-buy" rating and a $72.00 target price on the stock. Truist Financial boosted their price target on U.S. Bancorp from $66.00 to $69.00 and gave the company a "buy" rating in a report on Friday, July 17th. Finally, Oppenheimer increased their price target on U.S. Bancorp from $73.00 to $77.00 and gave the stock an "outperform" rating in a research note on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $67.06.

U.S. Bancorp Company Profile

U.S. Bancorp NYSE: USB is a financial services holding company and the parent organization of U.S. Bank, a full-service commercial bank. The company provides deposit accounts, consumer and business loans, mortgages, credit and debit cards, payment services, and other banking products to individuals, businesses, institutions and government entities.

Through its wealth, corporate and commercial banking operations, U.S. Bancorp also offers investment management, trust and custody services, treasury management, capital markets support, equipment finance and other specialized financial solutions.

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