Bestgate Wealth Advisors LLC Makes New Investment in U.S. Bancorp (NYSE:USB)

Bestgate Wealth Advisors LLC acquired a new stake in U.S. Bancorp (NYSE:USB - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 7,778 shares of the financial services provider's stock, valued at approximately $372,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp raised its stake 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 valued at $3,110,115,000 after acquiring an additional 819,805 shares in the last quarter. FMR LLC grew its position in U.S. Bancorp by 32.7% in the 3rd quarter. FMR LLC now owns 63,913,931 shares of the financial services provider's stock valued at $2,922,784,000 after buying an additional 15,746,852 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in 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 period. Geode Capital Management LLC increased its stake in shares of U.S. Bancorp by 1.8% during the third 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 acquiring an additional 599,852 shares during the period. Finally, Amundi lifted its position in 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 purchasing an additional 1,341,407 shares during the period. 77.60% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Barclays raised their price objective on U.S. Bancorp from $57.00 to $61.00 and gave the stock an "overweight" rating in a research note on Monday, January 6th. Oppenheimer raised their price target on shares of U.S. Bancorp from $62.00 to $63.00 and gave the stock an "outperform" rating in a report on Friday, January 17th. Citigroup upgraded shares of U.S. Bancorp from a "neutral" rating to a "buy" rating and increased their target price for the stock from $49.00 to $65.00 in a research report on Monday, November 25th. Truist Financial initiated coverage on U.S. Bancorp in a research report on Tuesday, January 7th. They set a "hold" rating and a $54.00 price objective for the company. Finally, Morgan Stanley cut their price objective on shares of U.S. Bancorp from $60.00 to $59.00 and set an "overweight" rating on the stock in a research report on Friday, January 17th. Ten research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $53.93.

U.S. Bancorp Price Performance

Shares of NYSE:USB traded up $0.16 during trading on Friday, reaching $42.77. The stock had a trading volume of 68,997,842 shares, compared to its average volume of 8,059,585. The stock has a market capitalization of $66.63 billion, a PE ratio of 11.28, a P/E/G ratio of 1.73 and a beta of 1.02. U.S. Bancorp has a 52 week low of $37.81 and a 52 week high of $53.98. The business's 50-day moving average price is $46.31 and its 200 day moving average price is $47.64. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.80.

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

U.S. Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.68%. The ex-dividend date is Monday, March 31st. U.S. Bancorp's dividend payout ratio is currently 52.77%.

Insider Buying and Selling

In other news, CEO Andrew Cecere sold 102,044 shares of the firm's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $47.25, for a total value of $4,821,579.00. Following the transaction, the chief executive officer now owns 1,230,316 shares of the company's stock, valued at approximately $58,132,431. This trade represents a 7.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Terrance R. Dolan sold 66,317 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $46.96, for a total transaction of $3,114,246.32. Following the sale, the insider now directly owns 209,482 shares of the company's stock, valued at approximately $9,837,274.72. This trade represents a 24.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 219,812 shares of company stock worth $10,385,665 in the last quarter. 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.