Lake Street Advisors Group LLC Acquires 896 Shares of U.S. Bancorp (NYSE:USB)

Lake Street Advisors Group LLC boosted its holdings in U.S. Bancorp (NYSE:USB) by 7.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,192 shares of the financial services provider’s stock after acquiring an additional 896 shares during the quarter. Lake Street Advisors Group LLC’s holdings in U.S. Bancorp were worth $638,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. State Street Corp lifted its holdings in shares of U.S. Bancorp by 1.2% in the third quarter. State Street Corp now owns 67,282,970 shares of the financial services provider’s stock valued at $3,110,115,000 after purchasing an additional 819,805 shares in the last quarter. FMR LLC raised its position in U.S. Bancorp by 32.7% in the 3rd quarter. FMR LLC now owns 63,913,931 shares of the financial services provider’s stock valued at $2,922,784,000 after buying an additional 15,746,852 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in U.S. Bancorp by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 47,328,880 shares of the financial services provider’s stock valued at $2,164,350,000 after acquiring an additional 1,796,336 shares in the last quarter. Geode Capital Management LLC boosted its holdings in U.S. Bancorp by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 33,086,597 shares of the financial services provider’s stock worth $1,507,616,000 after acquiring an additional 599,852 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of U.S. Bancorp by 4.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,235,426 shares of the financial services provider’s stock worth $513,796,000 after acquiring an additional 436,252 shares in the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on USB shares. Wells Fargo & Company raised their price target on shares of U.S. Bancorp from $60.00 to $62.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Morgan Stanley dropped their target price on shares of U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Truist Financial assumed coverage on U.S. Bancorp in a report on Tuesday, January 7th. They issued a “hold” rating and a $54.00 target price for the company. DA Davidson upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $58.00 to $60.00 in a report on Thursday, January 2nd. Finally, Raymond James raised U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price objective on the stock in a research report on Thursday, December 19th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $54.21.

U.S. Bancorp Stock Performance

Shares of USB stock opened at $46.22 on Friday. The firm’s 50 day moving average is $47.93 and its 200 day moving average is $47.76. The stock has a market capitalization of $72.10 billion, a P/E ratio of 12.20, a PEG ratio of 1.73 and a beta of 1.04. U.S. Bancorp has a 12 month low of $37.81 and a 12 month high of $53.98. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The firm had revenue of $7.01 billion during the quarter, compared to analyst estimates of $7 billion. During the same period last year, the company earned $0.99 earnings per share. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, sell-side analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.33%. The ex-dividend date of this dividend was Tuesday, December 31st. U.S. Bancorp’s payout ratio is presently 52.77%.

Insider Activity

In other news, EVP James L. Chosy sold 21,451 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $47.65, for a total transaction of $1,022,140.15. Following the completion of the transaction, the executive vice president now directly owns 198,127 shares in the company, valued at $9,440,751.55. The trade was a 9.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Andrew Cecere sold 102,044 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $47.25, for a total value of $4,821,579.00. Following the completion of the sale, the chief executive officer now owns 1,230,316 shares in the company, valued at $58,132,431. This trade represents a 7.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 219,812 shares of company stock worth $10,385,665 over the last ninety days. Company insiders own 0.23% of the company’s stock.

About U.S. Bancorp

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.