Virtu Financial LLC Has $2.86 Million Stake in U.S. Bancorp (NYSE:USB)

Key Points

• Virtu Financial LLC significantly increased its stake in U.S. Bancorp by acquiring 61,650 additional shares during the first quarter, raising its holdings by over 1,025% and valuing them at approximately $2.86 million.
• Recent analyst reports on U.S. Bancorp reveal a consensus rating of "Moderate Buy" with an average target price of $52.55, highlighting a range of ratings from "sell" to "strong buy".
• U.S. Bancorp reported $1.11 earnings per share for the latest quarter, exceeding expectations, and announced a quarterly dividend of $0.50, leading to an annualized dividend yield of 4.5%.

Virtu Financial LLC raised its position in U.S. Bancorp (NYSE:USB - Free Report) by 1,025.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 67,663 shares of the financial services provider's stock after buying an additional 61,650 shares during the period. Virtu Financial LLC's holdings in U.S. Bancorp were worth $2,857,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Westend Capital Management LLC bought a new position in shares of U.S. Bancorp in the first quarter worth about $27,000. YANKCOM Partnership raised its stake in shares of U.S. Bancorp by 59.4% in the first quarter. YANKCOM Partnership now owns 698 shares of the financial services provider's stock worth $29,000 after acquiring an additional 260 shares during the last quarter. Alpine Bank Wealth Management bought a new position in shares of U.S. Bancorp in the first quarter worth about $30,000. REAP Financial Group LLC raised its stake in shares of 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 worth $31,000 after acquiring an additional 297 shares during the last quarter. Finally, Cornerstone Planning Group LLC raised its stake in shares of U.S. Bancorp by 118.0% in the first quarter. Cornerstone Planning Group LLC now owns 776 shares of the financial services provider's stock worth $31,000 after acquiring an additional 420 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Souheil Badran sold 23,727 shares of the stock in a transaction on 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 completion of the sale, 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 Securities & Exchange Commission, which is available at this hyperlink. 0.23% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

USB has been the subject of a number of research analyst reports. Morgan Stanley boosted their target price on shares of U.S. Bancorp from $51.00 to $52.00 and gave the stock an "overweight" rating in a research note on Friday, July 18th. Piper Sandler dropped their price target 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. DA Davidson boosted their price target on shares of U.S. Bancorp from $49.00 to $52.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. Cowen began coverage on shares of U.S. Bancorp in a research note on Wednesday, May 14th. They set a "buy" rating for the company. Finally, Truist Financial boosted their price target on shares of U.S. Bancorp from $48.00 to $50.00 and gave the stock a "hold" rating in a research note on Wednesday, July 9th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $52.55.

U.S. Bancorp Stock Up 2.7%

Shares of USB stock traded up $1.22 during trading hours on Tuesday, hitting $45.78. 8,836,572 shares of the company were exchanged, compared to its average volume of 10,735,560. The business has a 50 day moving average of $45.32 and a two-hundred day moving average of $43.88. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.16. 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 $71.24 billion, a PE ratio of 10.95, a PEG ratio of 1.40 and a beta of 1.01.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $7.06 billion during the quarter, compared to the consensus estimate of $7.07 billion. During the same quarter in the prior year, the firm earned $0.98 earnings per share. The firm's revenue was up 2.0% compared to the same quarter last year. Analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $2.00 annualized dividend and a dividend yield of 4.4%. U.S. Bancorp's dividend payout ratio is currently 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.