WESPAC Advisors LLC Purchases Shares of 11,517 U.S. Bancorp (NYSE:USB)

WESPAC Advisors LLC purchased a new stake in U.S. Bancorp (NYSE:USB - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 11,517 shares of the financial services provider's stock, valued at approximately $486,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Westend Capital Management LLC acquired a new stake in shares of U.S. Bancorp in the first quarter valued at about $27,000. YANKCOM Partnership increased its position 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 valued at $29,000 after acquiring an additional 260 shares during the last quarter. Picton Mahoney Asset Management acquired a new stake in shares of U.S. Bancorp in the fourth quarter valued at about $30,000. Alpine Bank Wealth Management acquired a new stake in shares of U.S. Bancorp in the first quarter valued at about $30,000. Finally, Millstone Evans Group LLC acquired a new stake in shares of U.S. Bancorp in the fourth quarter valued at about $31,000. Institutional investors and hedge funds own 77.60% of the company's stock.

U.S. Bancorp Trading Up 0.6%

Shares of NYSE:USB opened at $47.56 on Friday. U.S. Bancorp has a 12-month low of $35.18 and a 12-month high of $53.98. The stock has a market cap of $74.11 billion, a PE ratio of 11.77, a P/E/G ratio of 1.78 and a beta of 0.99. The business has a 50 day moving average of $44.27 and a 200-day moving average of $44.40. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.11.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.06. The business had revenue of $6.96 billion during the quarter, compared to analysts' expectations of $6.92 billion. U.S. Bancorp had a return on equity of 13.02% and a net margin of 15.70%. During the same period in the previous year, the company posted $0.78 earnings per share. As a group, equities research analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.20%. The ex-dividend date is Monday, June 30th. U.S. Bancorp's dividend payout ratio (DPR) is currently 49.50%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on USB. Oppenheimer lifted their target price on U.S. Bancorp from $57.00 to $59.00 and gave the company an "outperform" rating in a research report on Monday, April 28th. Wall Street Zen downgraded U.S. Bancorp from a "hold" rating to a "sell" rating in a research report on Saturday, June 7th. TD Cowen assumed coverage on U.S. Bancorp in a report on Thursday, May 15th. They set a "buy" rating and a $60.00 price target for the company. Evercore ISI boosted their price target on U.S. Bancorp from $44.00 to $49.00 and gave the stock an "in-line" rating in a research report on Wednesday, June 4th. Finally, The Goldman Sachs Group boosted their price target on U.S. Bancorp from $41.00 to $46.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 10th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, U.S. Bancorp presently has an average rating of "Moderate Buy" and a consensus target price of $51.70.

Insider Activity

In related news, Director Aleem Gillani purchased 5,000 shares of the business's stock in a transaction that occurred on Monday, April 21st. The stock was acquired at an average cost of $37.32 per share, for a total transaction of $186,600.00. Following the completion of the purchase, the director owned 15,000 shares in the company, valued at approximately $559,800. This represents a 50.00% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.23% of the company's stock.

U.S. Bancorp 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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