Mission Wealth Management LP Acquires 9,719 Shares of U.S. Bancorp (NYSE:USB)

Mission Wealth Management LP boosted its position in U.S. Bancorp (NYSE:USB - Free Report) by 50.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,085 shares of the financial services provider's stock after purchasing an additional 9,719 shares during the quarter. Mission Wealth Management LP's holdings in U.S. Bancorp were worth $1,391,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in USB. Farther Finance Advisors LLC increased its position in U.S. Bancorp by 55.5% during the third quarter. Farther Finance Advisors LLC now owns 13,937 shares of the financial services provider's stock worth $637,000 after acquiring an additional 4,976 shares during the period. Chicago Partners Investment Group LLC grew its position in shares of U.S. Bancorp by 3.6% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 12,747 shares of the financial services provider's stock worth $619,000 after purchasing an additional 446 shares in the last quarter. Angeles Wealth Management LLC bought a new position in shares of U.S. Bancorp during the third quarter worth approximately $208,000. Robeco Institutional Asset Management B.V. raised its position in shares of U.S. Bancorp by 6.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 77,023 shares of the financial services provider's stock valued at $3,522,000 after buying an additional 4,356 shares in the last quarter. Finally, Forum Financial Management LP boosted its stake in shares of U.S. Bancorp by 16.7% in the third quarter. Forum Financial Management LP now owns 12,363 shares of the financial services provider's stock valued at $565,000 after buying an additional 1,770 shares during the period. 77.60% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Terrance R. Dolan sold 66,317 shares of the firm's stock in a transaction dated 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 completion of the transaction, the insider now directly owns 209,482 shares in the company, valued at $9,837,274.72. This trade represents a 24.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew Cecere sold 102,044 shares of the company's stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 1,230,316 shares in the company, valued at $58,132,431. The trade was a 7.66 % decrease in their ownership of the stock. 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 in the last three months. Insiders own 0.23% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on USB. Truist Financial assumed coverage on U.S. Bancorp in a research note on Tuesday, January 7th. They set a "hold" rating and a $54.00 price objective on the stock. Raymond James raised shares of U.S. Bancorp from a "market perform" rating to an "outperform" rating and set a $57.00 price objective for the company in a research report on Thursday, December 19th. Morgan Stanley reduced 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 note on Friday, January 17th. Oppenheimer boosted their target price on shares of U.S. Bancorp from $62.00 to $63.00 and gave the company an "outperform" rating in a research report on Friday, January 17th. Finally, Citigroup upgraded shares of U.S. Bancorp from a "neutral" rating to a "buy" rating and increased their price target for the stock from $49.00 to $65.00 in a research report on Monday, November 25th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $54.21.

U.S. Bancorp Trading Up 0.1 %

Shares of USB stock traded up $0.06 during mid-day trading on Wednesday, reaching $44.67. 4,866,588 shares of the stock traded hands, compared to its average volume of 9,107,729. The stock's fifty day simple moving average is $47.79 and its two-hundred day simple moving average is $47.91. U.S. Bancorp has a 1-year low of $37.81 and a 1-year high of $53.98. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. The company has a market cap of $69.69 billion, a price-to-earnings ratio of 11.80, a price-to-earnings-growth ratio of 1.73 and a beta of 1.04.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted 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 net margin of 14.75% and a return on equity of 12.94%. The business had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $7 billion. During the same period last year, the company earned $0.99 EPS. The firm's revenue was up 3.7% compared to the same quarter last year. On average, research analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $0.50 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $2.00 dividend on an annualized basis and a yield of 4.48%. U.S. Bancorp's payout ratio is 52.77%.

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.