Transcend Wealth Collective LLC boosted its position in U.S. Bancorp (NYSE:USB) by 17.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,384 shares of the financial services provider’s stock after acquiring an additional 956 shares during the period. Transcend Wealth Collective LLC’s holdings in U.S. Bancorp were worth $352,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Bay Harbor Wealth Management LLC acquired a new position in U.S. Bancorp in the first quarter valued at about $26,000. Vantage Consulting Group Inc acquired a new position in U.S. Bancorp in the fourth quarter valued at about $27,000. Field & Main Bank acquired a new position in U.S. Bancorp in the fourth quarter valued at about $27,000. Salem Investment Counselors Inc. lifted its stake in U.S. Bancorp by 92.3% in the fourth quarter. Salem Investment Counselors Inc. now owns 600 shares of the financial services provider’s stock valued at $28,000 after buying an additional 288 shares during the period. Finally, Goodwin Investment Advisory acquired a new position in U.S. Bancorp in the first quarter valued at about $29,000. Institutional investors and hedge funds own 74.31% of the company’s stock.
Several equities analysts have weighed in on the company. Jefferies Financial Group increased their target price on U.S. Bancorp from $55.00 to $66.00 and gave the company a “buy” rating in a research note on Friday, April 9th. JPMorgan Chase & Co. raised their price target on U.S. Bancorp from $60.00 to $64.50 and gave the stock an “overweight” rating in a research report on Monday, May 3rd. Deutsche Bank Aktiengesellschaft raised their price target on U.S. Bancorp from $55.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, April 1st. Citigroup raised their price target on U.S. Bancorp from $63.00 to $65.00 in a research report on Wednesday, April 21st. Finally, Robert W. Baird reiterated a “neutral” rating and set a $55.00 price objective on shares of U.S. Bancorp in a report on Thursday, March 25th. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. U.S. Bancorp presently has an average rating of “Buy” and a consensus price target of $60.10.
U.S. Bancorp stock opened at $58.61 on Friday. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.76 and a quick ratio of 0.74. U.S. Bancorp has a 52 week low of $34.01 and a 52 week high of $62.47. The firm has a market cap of $87.31 billion, a PE ratio of 15.42, a P/E/G ratio of 2.20 and a beta of 1.16. The stock’s fifty day simple moving average is $59.16.
U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Wednesday, April 14th. The financial services provider reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.49. U.S. Bancorp had a return on equity of 12.52% and a net margin of 24.16%. The company had revenue of $5.47 billion during the quarter, compared to analysts’ expectations of $5.53 billion. During the same quarter in the previous year, the firm earned $0.72 EPS. U.S. Bancorp’s revenue was down 5.2% on a year-over-year basis. As a group, research analysts anticipate that U.S. Bancorp will post 4.57 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 15th. Investors of record on Wednesday, March 31st were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Tuesday, March 30th. This represents a $1.68 dividend on an annualized basis and a yield of 2.87%. U.S. Bancorp’s dividend payout ratio is currently 54.90%.
About U.S. Bancorp
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments. The company offers depository services, including checking accounts, savings accounts, and time certificate contracts; lending services, such as traditional credit products; and credit card services, lease financing and import/export trade, asset-backed lending, agricultural finance, and other products.
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