U.S. Bancorp $USB Stock: Kestra Advisory Services LLC Grows Position

Key Points

• Kestra Advisory Services increased its U.S. Bancorp position by 13.1% in the third quarter, adding 32,036 shares to hold 276,238 shares valued at about $15.96 million. Institutional investors collectively own 77.6% of the company.
• U.S. Bancorp beat quarterly earnings and revenue estimates, reporting EPS of $1.34 and revenue of $8.04 billion; revenue rose 8.7% year over year.
• The bank raised its quarterly dividend from $0.52 to $0.54 per share, an annualized $2.16 and a 3.6% yield. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $68.65.

Kestra Advisory Services LLC increased its position in U.S. Bancorp (NYSE:USB - Free Report) by 13.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 276,238 shares of the financial services provider's stock after acquiring an additional 32,036 shares during the period. Kestra Advisory Services LLC's holdings in U.S. Bancorp were worth $15,955,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of USB. Mufg Bank LTD. purchased a new position in U.S. Bancorp in the second quarter worth about $2,680,199,000. Bank of New York Mellon Corp purchased a new stake in shares of U.S. Bancorp during the 2nd quarter valued at about $536,457,000. First Trust Advisors LP lifted its stake in shares of U.S. Bancorp by 39.9% in the 1st quarter. First Trust Advisors LP now owns 8,118,845 shares of the financial services provider's stock worth $422,261,000 after purchasing an additional 2,314,081 shares during the period. KBC Group NV lifted its stake in shares of U.S. Bancorp by 259.0% in the 1st quarter. KBC Group NV now owns 1,888,428 shares of the financial services provider's stock worth $98,217,000 after purchasing an additional 1,362,416 shares during the period. Finally, Amundi boosted its holdings in shares of U.S. Bancorp by 25.2% in the first quarter. Amundi now owns 6,470,642 shares of the financial services provider's stock worth $336,538,000 after buying an additional 1,301,547 shares during the last quarter. Hedge funds and other institutional investors own 77.60% of the company's stock.

Insiders Place Their Bets

In related news, CEO Gunjan Kedia sold 27,267 shares of the firm's stock in a transaction on Friday, August 28th. The shares were sold at an average price of $62.37, for a total transaction of $1,700,642.79. Following the completion of the transaction, the chief executive officer directly owned 426,262 shares of the company's stock, valued at approximately $26,585,960.94. This trade represents a 6.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.21% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on USB. Barclays boosted their target price on shares of U.S. Bancorp from $67.00 to $75.00 and gave the company an "overweight" rating in a research report on Friday, July 17th. Morgan Stanley set a $68.00 price target on shares of U.S. Bancorp in a research report on Friday, October 16th. Raymond James Financial decreased their price target on shares of U.S. Bancorp from $74.00 to $72.00 and set a "strong-buy" rating on the stock in a research report on Tuesday, October 6th. Truist Financial dropped their price target on shares of U.S. Bancorp from $69.00 to $67.00 and set a "buy" rating on the stock in a research note on Thursday, October 1st. Finally, HSBC boosted their price objective on shares of U.S. Bancorp from $74.00 to $76.00 and gave the company a "buy" rating in a research report on Monday, September 28th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $68.65.

U.S. Bancorp Trading Up 0.1%

Shares of USB stock opened at $59.49 on Monday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.83 and a current ratio of 0.83. The stock has a fifty day simple moving average of $59.65 and a two-hundred day simple moving average of $58.18. The firm has a market capitalization of $92.68 billion, a PE ratio of 11.60, a PEG ratio of 1.13 and a beta of 1.02. U.S. Bancorp has a 52-week low of $45.02 and a 52-week high of $66.07.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its quarterly earnings data on Thursday, October 15th. The financial services provider reported $1.34 EPS for the quarter, beating the consensus estimate of $1.32 by $0.02. The business had revenue of $8.04 billion for the quarter, compared to the consensus estimate of $8 billion. U.S. Bancorp had a return on equity of 13.85% and a net margin of 18.85%. The business's revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.22 earnings per share. On average, analysts predict that U.S. Bancorp will post 5.30 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were given a dividend of $0.54 per share. This is a positive change from U.S. Bancorp's previous quarterly dividend of $0.52. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Wednesday, September 30th. U.S. Bancorp's dividend payout ratio (DPR) is currently 42.11%.

U.S. Bancorp Company Profile

U.S. Bancorp is the parent company of U.S. Bank, a financial services provider serving consumers, businesses, institutions and government entities across the United States. Its history traces to 1863, when one of its predecessor institutions, First National Bank of Cincinnati, was established.

U.S. Bank offers consumer and business banking, lending, payment services, wealth management, investment services and corporate trust services. Its products include checking and savings accounts, credit cards, mortgages, commercial loans and digital banking solutions.

Headquartered in Minneapolis, Minnesota, U.S.

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