Foster Victor Wealth Advisors LLC Invests $9.09 Million in U.S. Bancorp (NYSE:USB)

Foster Victor Wealth Advisors LLC bought a new position in U.S. Bancorp (NYSE:USB - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 187,984 shares of the financial services provider's stock, valued at approximately $9,091,000.

Several other hedge funds also recently modified their holdings of the business. Robeco Institutional Asset Management B.V. increased its stake in shares of U.S. Bancorp by 305.8% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 312,569 shares of the financial services provider's stock worth $14,950,000 after purchasing an additional 235,546 shares during the last quarter. Deane Retirement Strategies Inc. increased its stake in shares of U.S. Bancorp by 1.0% during the 4th quarter. Deane Retirement Strategies Inc. now owns 70,753 shares of the financial services provider's stock worth $3,384,000 after purchasing an additional 667 shares during the last quarter. SteelPeak Wealth LLC increased its stake in shares of U.S. Bancorp by 1,131.4% during the 4th quarter. SteelPeak Wealth LLC now owns 180,292 shares of the financial services provider's stock worth $8,714,000 after purchasing an additional 165,651 shares during the last quarter. BSW Wealth Partners increased its stake in shares of U.S. Bancorp by 5.6% during the 4th quarter. BSW Wealth Partners now owns 7,401 shares of the financial services provider's stock worth $354,000 after purchasing an additional 393 shares during the last quarter. Finally, Perigon Wealth Management LLC grew its stake in U.S. Bancorp by 2.0% in the 4th quarter. Perigon Wealth Management LLC now owns 20,520 shares of the financial services provider's stock valued at $986,000 after buying an additional 394 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company's stock.

Wall Street Analysts Forecast Growth

USB has been the topic of a number of research analyst reports. Stephens raised their target price on shares of U.S. Bancorp from $49.00 to $52.00 and gave the company an "equal weight" rating in a research note on Thursday, October 17th. Raymond James upgraded shares of U.S. Bancorp from a "market perform" rating to an "outperform" rating and set a $57.00 target price on the stock in a research note on Thursday, December 19th. Robert W. Baird set a $54.00 price target on shares of U.S. Bancorp in a research report on Thursday, October 17th. Barclays raised their price target on shares of U.S. Bancorp from $57.00 to $61.00 and gave the stock an "overweight" rating in a research report on Monday, January 6th. Finally, Royal Bank of Canada set a $53.00 price target on shares of U.S. Bancorp in a research report on Thursday, October 17th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, U.S. Bancorp has an average rating of "Moderate Buy" and an average target price of $54.21.

U.S. Bancorp Price Performance

USB stock traded down $0.79 during trading on Wednesday, hitting $47.65. 15,329,577 shares of the stock traded hands, compared to its average volume of 9,852,731. U.S. Bancorp has a one year low of $37.81 and a one year high of $53.98. The stock has a market cap of $74.34 billion, a price-to-earnings ratio of 12.57, a P/E/G ratio of 1.81 and a beta of 1.05. The company has a 50 day simple moving average of $49.93 and a 200 day simple moving average of $47.30. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.01. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The firm had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $7 billion. During the same period last year, the firm posted $0.99 EPS. The firm's quarterly revenue was up 3.7% on a year-over-year basis. Equities analysts expect that U.S. Bancorp will post 4.37 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date was Tuesday, December 31st. U.S. Bancorp's dividend payout ratio is presently 52.77%.

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.