Advisory Services Network LLC Grows Position in U.S. Bancorp (NYSE:USB)

Advisory Services Network LLC raised its position in U.S. Bancorp (NYSE:USB - Free Report) by 28.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 63,334 shares of the financial services provider's stock after buying an additional 13,953 shares during the period. Advisory Services Network LLC's holdings in U.S. Bancorp were worth $3,029,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in USB. Norges Bank acquired a new stake in U.S. Bancorp in the fourth quarter worth about $777,524,000. Invesco Ltd. lifted its holdings in shares of 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 purchasing an additional 5,449,949 shares during the last quarter. Franklin Resources Inc. grew its position in U.S. Bancorp by 153.0% during the 3rd quarter. Franklin Resources Inc. now owns 7,949,347 shares of the financial services provider's stock worth $374,573,000 after purchasing an additional 4,807,662 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of U.S. Bancorp during the 4th quarter valued at $184,733,000. Finally, FMR LLC grew its stake in U.S. Bancorp by 5.0% in 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 purchasing an additional 3,211,815 shares in the last quarter. Institutional investors and hedge funds own 77.60% of the company's stock.

Insiders Place Their Bets

In other U.S. Bancorp news, CEO Andrew Cecere sold 102,044 shares of U.S. Bancorp stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $47.25, for a total transaction of $4,821,579.00. Following the completion of the transaction, the chief executive officer now owns 1,230,316 shares in the company, valued at approximately $58,132,431. The trade was a 7.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP James L. Chosy sold 21,451 shares of the business's stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $47.65, for a total transaction of $1,022,140.15. Following the transaction, the executive vice president now directly owns 198,127 shares of the company's stock, valued at $9,440,751.55. The trade was a 9.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 219,812 shares of company stock worth $10,385,665. 0.23% of the stock is currently owned by company insiders.

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U.S. Bancorp Price Performance

NYSE:USB traded up $0.42 during mid-day trading on Tuesday, reaching $38.62. The stock had a trading volume of 9,226,029 shares, compared to its average volume of 9,016,126. The stock has a market capitalization of $60.17 billion, a P/E ratio of 10.19, a P/E/G ratio of 1.73 and a beta of 0.91. U.S. Bancorp has a one year low of $35.18 and a one year high of $53.98. The firm has a 50 day moving average price of $43.28 and a two-hundred day moving average price of $46.98. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, beating analysts' consensus estimates of $1.06 by $0.01. The company had revenue of $7.01 billion during the quarter, compared to analyst estimates of $7 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. U.S. Bancorp's revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.99 EPS. As a group, analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 5.18%. The ex-dividend date is Monday, March 31st. U.S. Bancorp's payout ratio is 52.77%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. DA Davidson raised shares of U.S. Bancorp from a "neutral" rating to a "buy" rating and increased their target price for the stock from $58.00 to $60.00 in a research report on Thursday, January 2nd. Morgan Stanley lowered their price objective on U.S. Bancorp from $55.00 to $51.00 and set an "overweight" rating on the stock in a research report on Monday, April 7th. Wells Fargo & Company cut their price target on shares of U.S. Bancorp from $62.00 to $56.00 and set an "overweight" rating for the company in a research note on Friday, March 28th. JPMorgan Chase & Co. restated an "underweight" rating and issued a $43.50 target price (down previously from $51.00) on shares of U.S. Bancorp in a research note on Thursday, April 3rd. Finally, Piper Sandler upgraded U.S. Bancorp from a "neutral" rating to an "overweight" rating and set a $58.00 price target on the stock in a research report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, U.S. Bancorp presently has an average rating of "Moderate Buy" and a consensus target price of $52.52.

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.