Wallace Advisory Group LLC Acquires 618 Shares of U.S. Bancorp (NYSE:USB)

Wallace Advisory Group LLC increased its holdings in shares of U.S. Bancorp (NYSE:USB) by 4.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,432 shares of the financial services provider’s stock after buying an additional 618 shares during the period. Wallace Advisory Group LLC’s holdings in U.S. Bancorp were worth $614,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of USB. Global Wealth Strategies & Associates grew its holdings in U.S. Bancorp by 70.8% during the fourth quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 250 shares during the period. Redwood Wealth Management Group LLC acquired a new position in U.S. Bancorp during the second quarter valued at approximately $25,000. Frazier Financial Advisors LLC grew its holdings in U.S. Bancorp by 222.7% during the third quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 441 shares during the period. FNY Investment Advisers LLC acquired a new position in U.S. Bancorp during the fourth quarter valued at approximately $38,000. Finally, First Financial Corp IN acquired a new position in U.S. Bancorp during the fourth quarter valued at approximately $41,000. 77.60% of the stock is owned by institutional investors.

U.S. Bancorp Stock Performance

NYSE USB opened at $48.38 on Tuesday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. The firm’s fifty day moving average price is $50.22 and its two-hundred day moving average price is $46.61. U.S. Bancorp has a 1 year low of $37.81 and a 1 year high of $53.98. The firm has a market capitalization of $75.47 billion, a P/E ratio of 14.80, a price-to-earnings-growth ratio of 3.01 and a beta of 1.05.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.04. The company had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.90 billion. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The company’s revenue was down 2.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.05 earnings per share. As a group, research analysts anticipate that U.S. Bancorp will post 3.93 EPS for the current year.

U.S. Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.13%. The ex-dividend date of this dividend is Tuesday, December 31st. U.S. Bancorp’s payout ratio is presently 61.16%.

Insider Activity

In related news, insider Jodi L. Richard sold 25,000 shares of the company’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $49.03, for a total value of $1,225,750.00. Following the transaction, the insider now directly owns 129,790 shares in the company, valued at approximately $6,363,603.70. This represents a 16.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.23% of the company’s stock.

Analyst Upgrades and Downgrades

USB has been the subject of a number of analyst reports. Citigroup upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $49.00 to $65.00 in a report on Monday, November 25th. Robert W. Baird set a $54.00 price target on shares of U.S. Bancorp in a report on Thursday, October 17th. Truist Financial began coverage on shares of U.S. Bancorp in a report on Tuesday, January 7th. They issued a “hold” rating and a $54.00 price target for the company. Barclays upped their price target on shares of U.S. Bancorp from $57.00 to $61.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Finally, Oppenheimer reduced their price target on shares of U.S. Bancorp from $66.00 to $62.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $54.07.

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.