YorkBridge Wealth Partners LLC Grows Position in U.S. Bancorp (NYSE:USB)

YorkBridge Wealth Partners LLC raised its holdings in shares of U.S. Bancorp (NYSE:USBGet Rating) by 14.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,122 shares of the financial services provider’s stock after buying an additional 1,653 shares during the quarter. YorkBridge Wealth Partners LLC’s holdings in U.S. Bancorp were worth $604,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of U.S. Bancorp by 2.4% in the first quarter. Vanguard Group Inc. now owns 111,805,389 shares of the financial services provider’s stock valued at $5,942,456,000 after purchasing an additional 2,618,810 shares during the period. BlackRock Inc. grew its holdings in shares of U.S. Bancorp by 1.9% in the first quarter. BlackRock Inc. now owns 97,457,184 shares of the financial services provider’s stock valued at $5,179,851,000 after purchasing an additional 1,840,496 shares during the period. State Street Corp grew its holdings in shares of U.S. Bancorp by 0.3% in the first quarter. State Street Corp now owns 63,300,947 shares of the financial services provider’s stock valued at $3,393,153,000 after purchasing an additional 190,720 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of U.S. Bancorp by 7.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 22,052,957 shares of the financial services provider’s stock valued at $1,172,115,000 after purchasing an additional 1,622,711 shares during the period. Finally, Northern Trust Corp grew its holdings in shares of U.S. Bancorp by 1.7% in the first quarter. Northern Trust Corp now owns 17,793,541 shares of the financial services provider’s stock valued at $945,727,000 after purchasing an additional 303,443 shares during the period. Hedge funds and other institutional investors own 74.93% of the company’s stock.

U.S. Bancorp Stock Performance

NYSE:USB opened at $43.03 on Friday. The firm’s fifty day moving average price is $46.91 and its 200 day moving average price is $49.37. U.S. Bancorp has a 1-year low of $43.00 and a 1-year high of $63.57. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.75 and a quick ratio of 0.74. The firm has a market cap of $63.93 billion, a price-to-earnings ratio of 9.89, a price-to-earnings-growth ratio of 1.52 and a beta of 0.97.

U.S. Bancorp (NYSE:USBGet Rating) last released its earnings results on Friday, July 15th. The financial services provider reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. U.S. Bancorp had a return on equity of 15.05% and a net margin of 28.08%. The company had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5.89 billion. During the same quarter last year, the company earned $1.28 earnings per share. U.S. Bancorp’s quarterly revenue was up 4.0% compared to the same quarter last year. On average, sell-side analysts expect that U.S. Bancorp will post 4.45 EPS for the current year.

U.S. Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be issued a $0.48 dividend. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $1.92 dividend on an annualized basis and a yield of 4.46%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.46. U.S. Bancorp’s dividend payout ratio (DPR) is 42.30%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Wells Fargo & Company reduced their price target on shares of U.S. Bancorp from $70.00 to $60.00 and set an “overweight” rating on the stock in a research report on Friday, July 1st. Piper Sandler set a $50.00 price target on shares of U.S. Bancorp in a research report on Tuesday, July 19th. Wolfe Research reduced their target price on shares of U.S. Bancorp from $62.00 to $54.00 and set an “outperform” rating on the stock in a report on Thursday, May 26th. Credit Suisse Group reduced their target price on shares of U.S. Bancorp from $57.00 to $54.00 and set a “neutral” rating on the stock in a report on Tuesday, July 19th. Finally, Oppenheimer set a $68.00 target price on shares of U.S. Bancorp in a report on Tuesday, July 19th. One analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $58.56.

About U.S. Bancorp

(Get Rating)

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 in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments.

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

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