LPL Financial LLC Purchases 252,268 Shares of U.S. Bancorp (NYSE:USB)

LPL Financial LLC lifted its position in shares of U.S. Bancorp (NYSE:USB) by 11.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,431,993 shares of the financial services provider’s stock after purchasing an additional 252,268 shares during the quarter. LPL Financial LLC owned 0.16% of U.S. Bancorp worth $116,322,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Brooklyn Investment Group lifted its stake 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 valued at $219,000 after buying an additional 201 shares in the last quarter. Capital Performance Advisors LLP raised its holdings in shares of U.S. Bancorp by 2.6% in the 4th quarter. Capital Performance Advisors LLP now owns 8,188 shares of the financial services provider’s stock worth $392,000 after acquiring an additional 210 shares during the last quarter. HCR Wealth Advisors lifted its position in U.S. Bancorp by 1.1% in the 4th quarter. HCR Wealth Advisors now owns 20,107 shares of the financial services provider’s stock valued at $962,000 after acquiring an additional 211 shares in the last quarter. Priebe Wealth Holdings LLC boosted its stake in U.S. Bancorp by 4.4% during the 4th 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 last quarter. Finally, Essex Savings Bank increased its holdings in U.S. Bancorp by 1.8% during the 4th quarter. Essex Savings Bank now owns 12,350 shares of the financial services provider’s stock worth $591,000 after purchasing an additional 216 shares in the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Morgan Stanley dropped their target price on U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Citigroup dropped their price objective on U.S. Bancorp from $65.00 to $55.00 and set a “buy” rating on the stock in a research note on Monday. Piper Sandler upgraded shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 target price for the company in a research note on Monday, January 13th. Bank of America dropped their price target on shares of U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating on the stock in a research report on Monday, March 17th. Finally, The Goldman Sachs Group reduced their price objective on shares of U.S. Bancorp from $51.00 to $45.00 and set a “neutral” rating for the company in a research report on Wednesday, March 19th. Ten investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $53.48.

Insider Buying and Selling

In other news, EVP James L. Chosy sold 21,451 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $47.65, for a total value of $1,022,140.15. Following the sale, the executive vice president now directly owns 198,127 shares of the company’s stock, valued at approximately $9,440,751.55. This represents a 9.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jodi L. Richard sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $47.59, for a total transaction of $1,427,700.00. Following the transaction, the insider now directly owns 99,790 shares of the company’s stock, valued at approximately $4,749,006.10. This represents a 23.11 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 219,812 shares of company stock valued at $10,385,665. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Price Performance

NYSE USB opened at $43.81 on Tuesday. 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 $68.25 billion, a PE ratio of 11.56, a price-to-earnings-growth 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 firm’s 50-day simple moving average is $46.21 and its two-hundred day simple moving average is $47.63.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $7.01 billion for the quarter, compared to analysts’ expectations of $7 billion. During the same period in the prior year, the company posted $0.99 EPS. U.S. Bancorp’s revenue was up 3.7% compared to the same quarter last year. Research analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.57%. U.S. Bancorp’s payout ratio is 52.77%.

U.S. Bancorp Company 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.