Cliftonlarsonallen Wealth Advisors LLC Acquires New Position in U.S. Bancorp (USB)

Cliftonlarsonallen Wealth Advisors LLC acquired a new stake in shares of U.S. Bancorp (NYSE:USB) during the third quarter, HoldingsChannel reports. The fund acquired 15,307 shares of the financial services provider’s stock, valued at approximately $808,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Wells Fargo & Company MN raised its holdings in shares of U.S. Bancorp by 3.5% during the third quarter. Wells Fargo & Company MN now owns 22,390,287 shares of the financial services provider’s stock worth $1,182,431,000 after purchasing an additional 750,796 shares during the period. Lau Associates LLC acquired a new stake in shares of U.S. Bancorp during the third quarter worth $317,000. Parallel Advisors LLC raised its holdings in shares of U.S. Bancorp by 24.5% during the second quarter. Parallel Advisors LLC now owns 12,749 shares of the financial services provider’s stock worth $637,000 after purchasing an additional 2,505 shares during the period. Valeo Financial Advisors LLC acquired a new stake in shares of U.S. Bancorp during the second quarter worth $567,000. Finally, Commonwealth Bank of Australia raised its holdings in shares of U.S. Bancorp by 18.5% during the second quarter. Commonwealth Bank of Australia now owns 198,873 shares of the financial services provider’s stock worth $9,942,000 after purchasing an additional 31,060 shares during the period. Hedge funds and other institutional investors own 74.42% of the company’s stock.

A number of analysts have weighed in on USB shares. Wedbush reissued a “neutral” rating on shares of U.S. Bancorp in a report on Monday, July 23rd. ValuEngine raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, July 26th. Zacks Investment Research raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a report on Tuesday, September 18th. Macquarie raised shares of U.S. Bancorp from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $56.00 to $62.00 in a report on Wednesday, October 10th. Finally, UBS Group raised shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating in a report on Thursday, October 18th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the company. U.S. Bancorp currently has an average rating of “Hold” and a consensus price target of $59.36.

USB stock opened at $52.93 on Friday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.84 and a current ratio of 0.85. U.S. Bancorp has a fifty-two week low of $48.49 and a fifty-two week high of $58.50. The stock has a market capitalization of $85.07 billion, a P/E ratio of 15.48, a PEG ratio of 1.71 and a beta of 0.91.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Wednesday, October 17th. The financial services provider reported $1.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.04 by $0.02. The business had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.68 billion. U.S. Bancorp had a net margin of 27.53% and a return on equity of 15.14%. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.88 EPS. As a group, research analysts forecast that U.S. Bancorp will post 4.1 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Friday, September 28th were paid a dividend of $0.37 per share. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.30. The ex-dividend date was Thursday, September 27th. This represents a $1.48 annualized dividend and a yield of 2.80%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 43.27%.

In other U.S. Bancorp news, Vice Chairman Terrance R. Dolan sold 15,524 shares of the firm’s stock in a transaction dated Thursday, October 18th. The shares were sold at an average price of $52.91, for a total transaction of $821,374.84. Following the transaction, the insider now owns 124,086 shares of the company’s stock, valued at approximately $6,565,390.26. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Vice Chairman Gillern Jeffry H. Von sold 17,508 shares of the firm’s stock in a transaction dated Wednesday, October 24th. The shares were sold at an average price of $50.81, for a total transaction of $889,581.48. Following the transaction, the insider now directly owns 121,137 shares in the company, valued at approximately $6,154,970.97. The disclosure for this sale can be found here. 0.43% of the stock is currently owned by company insiders.

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U.S. Bancorp Profile

U.S. Bancorp, a financial services holding company, provides various financial services in the United States. The company operates through five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.

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Want to see what other hedge funds are holding USB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for U.S. Bancorp (NYSE:USB).

Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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