U.S. Bancorp (NYSE:USB) Shares Purchased by Marcum Wealth LLC

Marcum Wealth LLC boosted its position in shares of U.S. Bancorp (NYSE:USB) by 63.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,990 shares of the financial services provider’s stock after acquiring an additional 3,868 shares during the period. Marcum Wealth LLC’s holdings in U.S. Bancorp were worth $447,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of USB. QRG Capital Management Inc. acquired a new position in shares of U.S. Bancorp during the 3rd quarter worth about $566,000. CI Investments Inc. boosted its holdings in U.S. Bancorp by 2.9% in the third quarter. CI Investments Inc. now owns 44,981 shares of the financial services provider’s stock valued at $1,487,000 after purchasing an additional 1,251 shares in the last quarter. Clearbridge Investments LLC increased its stake in U.S. Bancorp by 4.4% in the third quarter. Clearbridge Investments LLC now owns 4,978,278 shares of the financial services provider’s stock valued at $164,582,000 after purchasing an additional 210,949 shares during the last quarter. Visionary Wealth Advisors raised its holdings in U.S. Bancorp by 9.0% during the third quarter. Visionary Wealth Advisors now owns 109,496 shares of the financial services provider’s stock worth $3,620,000 after purchasing an additional 9,033 shares in the last quarter. Finally, True Wealth Design LLC purchased a new stake in shares of U.S. Bancorp during the 3rd quarter worth approximately $780,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

USB has been the topic of a number of recent analyst reports. Morgan Stanley reaffirmed an “equal weight” rating and issued a $45.00 target price on shares of U.S. Bancorp in a research report on Friday. DA Davidson cut their target price on U.S. Bancorp from $45.00 to $44.00 and set a “neutral” rating on the stock in a research report on Thursday, April 18th. HSBC raised U.S. Bancorp from a “hold” rating to a “buy” rating and upped their target price for the company from $47.00 to $53.00 in a research report on Thursday, March 28th. UBS Group cut their price target on U.S. Bancorp from $47.00 to $43.00 and set a “neutral” rating on the stock in a research report on Friday, April 19th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $47.00 price objective on shares of U.S. Bancorp in a report on Thursday, May 16th. Fifteen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, U.S. Bancorp presently has a consensus rating of “Hold” and a consensus target price of $46.02.

U.S. Bancorp Stock Up 1.1 %

U.S. Bancorp stock opened at $39.71 on Friday. The stock’s 50 day moving average price is $40.40 and its 200 day moving average price is $41.69. The company has a market cap of $61.97 billion, a PE ratio of 13.15, a price-to-earnings-growth ratio of 3.77 and a beta of 1.04. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.82 and a quick ratio of 0.81. U.S. Bancorp has a 1-year low of $30.47 and a 1-year high of $45.85.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. U.S. Bancorp had a net margin of 12.13% and a return on equity of 13.93%. The business had revenue of $6.72 billion for the quarter, compared to analysts’ expectations of $6.71 billion. During the same period in the prior year, the company posted $1.16 EPS. The business’s revenue for the quarter was down 6.4% on a year-over-year basis. On average, sell-side analysts predict that U.S. Bancorp will post 3.85 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a dividend of $0.49 per share. The ex-dividend date is Friday, June 28th. This represents a $1.96 annualized dividend and a yield of 4.94%. U.S. Bancorp’s dividend payout ratio is presently 64.90%.

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.