FSM Wealth Advisors LLC Makes New Investment in U.S. Bancorp $USB

FSM Wealth Advisors LLC acquired a new stake in shares of U.S. Bancorp (NYSE:USB) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 4,470 shares of the financial services provider’s stock, valued at approximately $214,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Nuveen LLC acquired a new stake in U.S. Bancorp during the 1st quarter worth approximately $138,183,000. Vanguard Group Inc. boosted its holdings in shares of U.S. Bancorp by 1.7% in the first quarter. Vanguard Group Inc. now owns 141,230,279 shares of the financial services provider’s stock valued at $5,962,742,000 after buying an additional 2,393,383 shares during the period. American Century Companies Inc. increased its position in shares of U.S. Bancorp by 17.4% during the first quarter. American Century Companies Inc. now owns 10,070,174 shares of the financial services provider’s stock worth $425,163,000 after acquiring an additional 1,493,318 shares in the last quarter. Nordea Investment Management AB raised its holdings in shares of U.S. Bancorp by 192.0% during the second quarter. Nordea Investment Management AB now owns 1,994,993 shares of the financial services provider’s stock worth $90,752,000 after acquiring an additional 1,311,746 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in shares of U.S. Bancorp by 10.5% during the first quarter. Goldman Sachs Group Inc. now owns 11,012,635 shares of the financial services provider’s stock worth $464,953,000 after acquiring an additional 1,045,509 shares during the period. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on USB. Raymond James Financial raised shares of U.S. Bancorp from an “outperform” rating to a “strong-buy” rating and upped their target price for the stock from $51.00 to $57.00 in a research note on Monday, July 7th. Wells Fargo & Company boosted their price target on U.S. Bancorp from $50.00 to $52.00 and gave the company an “overweight” rating in a report on Friday, October 17th. Citigroup upped their price objective on U.S. Bancorp from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. UBS Group increased their price objective on U.S. Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a report on Tuesday, October 7th. Finally, Oppenheimer cut their target price on U.S. Bancorp from $67.00 to $66.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 23rd. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, U.S. Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $54.55.

U.S. Bancorp Price Performance

NYSE:USB opened at $48.31 on Friday. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $53.98. The company has a market cap of $75.17 billion, a P/E ratio of 11.05, a P/E/G ratio of 1.28 and a beta of 1.06. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.82 and a current ratio of 0.82. The stock’s 50-day simple moving average is $48.10 and its 200 day simple moving average is $45.13.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.11. The firm had revenue of $7.34 billion during the quarter, compared to the consensus estimate of $7.17 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.The business’s revenue was up 6.8% compared to the same quarter last year. During the same period last year, the company earned $1.03 earnings per share. As a group, sell-side analysts forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were issued a dividend of $0.52 per share. The ex-dividend date was Tuesday, September 30th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a yield of 4.3%. U.S. Bancorp’s dividend payout ratio is presently 47.60%.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, EVP James L. Chosy sold 26,909 shares of the company’s stock in a transaction on Monday, October 20th. The shares were sold at an average price of $46.86, for a total transaction of $1,260,955.74. Following the sale, the executive vice president directly owned 226,375 shares of the company’s stock, valued at approximately $10,607,932.50. This represents a 10.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Andrew Cecere sold 140,445 shares of U.S. Bancorp stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $46.34, for a total transaction of $6,508,221.30. Following the completion of the transaction, the chairman directly owned 1,360,414 shares of the company’s stock, valued at approximately $63,041,584.76. This trade represents a 9.36% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company’s stock.

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.