Nvest Financial LLC Acquires Shares of 7,034 U.S. Bancorp (NYSE:USB)

Nvest Financial LLC acquired a new position in shares of U.S. Bancorp (NYSE:USB - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 7,034 shares of the financial services provider's stock, valued at approximately $336,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brooklyn Investment Group raised its holdings in shares of U.S. Bancorp by 4.4% in the third quarter. Brooklyn Investment Group now owns 4,792 shares of the financial services provider's stock worth $219,000 after acquiring an additional 201 shares during the last quarter. McAdam LLC raised its holdings in shares of U.S. Bancorp by 2.5% in the third quarter. McAdam LLC now owns 8,503 shares of the financial services provider's stock worth $389,000 after acquiring an additional 209 shares during the last quarter. HCR Wealth Advisors grew its position in shares of U.S. Bancorp by 1.1% in the fourth quarter. HCR Wealth Advisors now owns 20,107 shares of the financial services provider's stock valued at $962,000 after purchasing an additional 211 shares during the period. Priebe Wealth Holdings LLC grew its position in shares of U.S. Bancorp by 4.4% in the fourth quarter. Priebe Wealth Holdings LLC now owns 5,078 shares of the financial services provider's stock valued at $243,000 after purchasing an additional 215 shares during the period. Finally, Essex Savings Bank grew its position in shares of U.S. Bancorp by 1.8% in the fourth quarter. Essex Savings Bank now owns 12,350 shares of the financial services provider's stock valued at $591,000 after purchasing an additional 216 shares during the period. 77.60% of the stock is owned by institutional investors and hedge funds.

U.S. Bancorp Stock Down 1.6 %

Shares of NYSE:USB traded down $0.79 during trading on Wednesday, hitting $47.65. The company's stock had a trading volume of 15,329,577 shares, compared to its average volume of 9,852,731. 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 has a fifty-two week low of $37.81 and a fifty-two week high of $53.98. The stock's 50-day moving average price is $49.93 and its two-hundred day moving average price is $47.30. The company has a market capitalization of $74.34 billion, a PE ratio of 12.57, a PEG ratio of 1.81 and a beta of 1.05.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its quarterly 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 business had revenue of $7.01 billion for the quarter, compared to analysts' expectations of $7 billion. During the same quarter in the previous year, the firm posted $0.99 earnings per share. The company's revenue was up 3.7% compared to the same quarter last year. As a group, sell-side analysts expect that U.S. Bancorp will post 4.37 EPS for the current year.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.20%. The ex-dividend date of this dividend was Tuesday, December 31st. U.S. Bancorp's dividend payout ratio (DPR) is 52.77%.

Analysts Set New Price Targets

A number of brokerages have recently commented on USB. Barclays lifted their price objective on U.S. Bancorp from $57.00 to $61.00 and gave the company an "overweight" rating in a research report on Monday, January 6th. Wells Fargo & Company lifted their price objective on U.S. Bancorp from $60.00 to $62.00 and gave the company an "overweight" rating in a research report on Friday, November 15th. Truist Financial began coverage on U.S. Bancorp in a research report on Tuesday, January 7th. They issued a "hold" rating and a $54.00 price objective for the company. Royal Bank of Canada set a $53.00 price objective on U.S. Bancorp in a research report on Thursday, October 17th. Finally, Compass Point boosted their price target on U.S. Bancorp from $49.00 to $60.00 and gave the company a "buy" rating in a research report on Tuesday, December 10th. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, U.S. Bancorp currently has an average rating of "Moderate Buy" and an average price target of $54.21.

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.