Wealth Alliance LLC Decreases Stock Holdings in U.S. Bancorp (NYSE:USB)

Wealth Alliance LLC reduced its position in U.S. Bancorp (NYSE:USB - Free Report) by 23.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 29,840 shares of the financial services provider's stock after selling 9,327 shares during the quarter. Wealth Alliance LLC's holdings in U.S. Bancorp were worth $1,260,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Norges Bank bought a new position in shares of U.S. Bancorp in the fourth quarter worth $777,524,000. Invesco Ltd. boosted its stake in U.S. Bancorp by 48.1% during the fourth quarter. Invesco Ltd. now owns 16,787,513 shares of the financial services provider's stock valued at $802,947,000 after buying an additional 5,449,949 shares during the period. Marshall Wace LLP boosted its stake in U.S. Bancorp by 414.1% during the fourth quarter. Marshall Wace LLP now owns 5,789,565 shares of the financial services provider's stock valued at $276,915,000 after buying an additional 4,663,518 shares during the period. FMR LLC boosted its stake in U.S. Bancorp by 5.0% during the fourth quarter. FMR LLC now owns 67,125,746 shares of the financial services provider's stock valued at $3,210,624,000 after buying an additional 3,211,815 shares during the period. Finally, Northern Trust Corp boosted its stake in U.S. Bancorp by 10.9% during the fourth quarter. Northern Trust Corp now owns 17,050,568 shares of the financial services provider's stock valued at $815,529,000 after buying an additional 1,670,305 shares during the period. 77.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on USB shares. Cowen started coverage on U.S. Bancorp in a research note on Wednesday, May 14th. They set a "buy" rating for the company. Piper Sandler dropped their price target 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. Truist Financial lifted their price target on U.S. Bancorp from $48.00 to $50.00 and gave the stock a "hold" rating in a research note on Wednesday, July 9th. The Goldman Sachs Group lifted their price objective on U.S. Bancorp from $41.00 to $46.00 and gave the stock a "neutral" rating in a report on Tuesday, June 10th. Finally, Oppenheimer lifted their price objective on U.S. Bancorp from $65.00 to $66.00 and gave the stock an "outperform" rating in a report on Friday. One 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $52.36.

U.S. Bancorp Stock Performance

Shares of USB opened at $45.72 on Monday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.16. The business's 50 day moving average price is $44.82 and its 200-day moving average price is $44.25. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $53.98. The stock has a market cap of $71.23 billion, a P/E ratio of 10.94, a P/E/G ratio of 1.75 and a beta of 0.99.

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

U.S. Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were given a $0.50 dividend. The ex-dividend date was Monday, June 30th. This represents a $2.00 annualized dividend and a yield of 4.37%. U.S. Bancorp's dividend payout ratio (DPR) is presently 47.85%.

About U.S. Bancorp

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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