Modern Wealth Management LLC Invests $926,000 in U.S. Bancorp (NYSE:USB)

Modern Wealth Management LLC bought a new stake in U.S. Bancorp (NYSE:USB) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 19,755 shares of the financial services provider’s stock, valued at approximately $926,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of U.S. Bancorp by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 138,836,896 shares of the financial services provider’s stock valued at $6,640,569,000 after acquiring an additional 1,079,056 shares during the last quarter. State Street Corp grew its position in U.S. Bancorp by 1.2% during the 3rd quarter. State Street Corp now owns 67,282,970 shares of the financial services provider’s stock worth $3,110,115,000 after purchasing an additional 819,805 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of U.S. Bancorp by 5.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 49,789,725 shares of the financial services provider’s stock valued at $2,381,443,000 after buying an additional 2,460,845 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of U.S. Bancorp by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 33,086,597 shares of the financial services provider’s stock valued at $1,507,616,000 after buying an additional 599,852 shares during the period. Finally, Amundi boosted its stake in shares of U.S. Bancorp by 7.4% in the fourth quarter. Amundi now owns 19,485,615 shares of the financial services provider’s stock worth $945,268,000 after buying an additional 1,341,407 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on USB. Barclays boosted their price target on U.S. Bancorp from $57.00 to $61.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Raymond James upgraded shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price target on the stock in a research report on Thursday, December 19th. Oppenheimer upped their price objective on shares of U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. DA Davidson upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their target price for the company from $58.00 to $60.00 in a research report on Thursday, January 2nd. Finally, The Goldman Sachs Group reduced their price target on U.S. Bancorp from $51.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, March 19th. Ten equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $53.48.

U.S. Bancorp Stock Up 0.1 %

Shares of NYSE:USB opened at $43.74 on Thursday. U.S. Bancorp has a 52-week low of $37.81 and a 52-week high of $53.98. The stock has a market cap of $68.15 billion, a P/E ratio of 11.54, a PEG ratio of 1.73 and a beta of 1.02. The business has a fifty day moving average of $45.96 and a two-hundred day moving average of $47.60. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.01. The firm had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $7 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. U.S. Bancorp’s revenue was up 3.7% compared to the same quarter last year. During the same period last year, the business earned $0.99 earnings per share. On average, research analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $0.50 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.00 annualized dividend and a yield of 4.57%. U.S. Bancorp’s payout ratio is 52.77%.

Insiders Place Their Bets

In related news, insider Jodi L. Richard sold 30,000 shares of the firm’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $47.59, for a total transaction of $1,427,700.00. Following the completion of the sale, the insider now directly owns 99,790 shares of the company’s stock, valued at approximately $4,749,006.10. This trade represents a 23.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Terrance R. Dolan sold 66,317 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $46.96, for a total transaction of $3,114,246.32. Following the completion of the transaction, the insider now directly owns 209,482 shares in the company, valued at $9,837,274.72. The trade was a 24.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 219,812 shares of company stock valued at $10,385,665 over the last quarter. 0.23% of the stock is owned by insiders.

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.