Avidian Wealth Solutions LLC Grows Position in U.S. Bancorp (NYSE:USB)

Avidian Wealth Solutions LLC grew its holdings in shares of U.S. Bancorp (NYSE:USB) by 26.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,105 shares of the financial services provider’s stock after purchasing an additional 2,089 shares during the quarter. Avidian Wealth Solutions LLC’s holdings in U.S. Bancorp were worth $437,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. CGC Financial Services LLC purchased a new stake in shares of U.S. Bancorp during the 4th quarter valued at $25,000. BKM Wealth Management LLC purchased a new stake in U.S. Bancorp in the 4th quarter worth about $26,000. Planned Solutions Inc. purchased a new stake in U.S. Bancorp in the 4th quarter worth about $27,000. Naples Money Management LLC purchased a new stake in U.S. Bancorp in the 4th quarter worth about $30,000. Finally, Friedenthal Financial purchased a new stake in U.S. Bancorp in the 4th quarter worth about $46,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Price Performance

Shares of USB traded up $0.39 during trading hours on Monday, reaching $41.80. 3,185,977 shares of the company’s stock traded hands, compared to its average volume of 8,505,679. The firm’s 50 day simple moving average is $42.32 and its 200-day simple moving average is $40.50. The stock has a market cap of $65.23 billion, a PE ratio of 13.71, a price-to-earnings-growth ratio of 2.16 and a beta of 1.05. U.S. Bancorp has a 12 month low of $28.53 and a 12 month high of $45.85. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 1.07.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.01. The business had revenue of $6.72 billion during the quarter, compared to analyst estimates of $6.71 billion. U.S. Bancorp had a return on equity of 13.93% and a net margin of 12.13%. U.S. Bancorp’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.16 earnings per share. Equities analysts expect that U.S. Bancorp will post 3.84 EPS for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were paid a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 4.69%. The ex-dividend date was Wednesday, March 27th. U.S. Bancorp’s dividend payout ratio is presently 64.90%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on USB shares. UBS Group decreased their price objective on U.S. Bancorp from $47.00 to $43.00 and set a “neutral” rating for the company in a report on Friday, April 19th. Oppenheimer decreased their price objective on U.S. Bancorp from $55.00 to $54.00 and set an “outperform” rating for the company in a report on Thursday, April 18th. JPMorgan Chase & Co. decreased their price objective on U.S. Bancorp from $45.00 to $43.50 and set an “overweight” rating for the company in a report on Wednesday, May 1st. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $45.00 price objective (down previously from $52.00) on shares of U.S. Bancorp in a report on Thursday, April 18th. Finally, Jefferies Financial Group raised their target price on U.S. Bancorp from $44.00 to $46.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, U.S. Bancorp currently has an average rating of “Hold” and a consensus target price of $46.02.

Insiders Place Their Bets

In other U.S. Bancorp news, EVP James L. Chosy sold 21,582 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $41.47, for a total value of $895,005.54. Following the completion of the sale, the executive vice president now directly owns 164,880 shares of the company’s stock, valued at $6,837,573.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.23% of the stock is currently owned by insiders.

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.