Focus Partners Advisor Solutions LLC Increases Stock Holdings in U.S. Bancorp $USB

Focus Partners Advisor Solutions LLC lifted its stake in shares of U.S. Bancorp (NYSE:USB) by 2.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 107,807 shares of the financial services provider’s stock after buying an additional 2,081 shares during the quarter. Focus Partners Advisor Solutions LLC’s holdings in U.S. Bancorp were worth $4,879,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Allied Investment Advisors LLC lifted its position in U.S. Bancorp by 6.1% in the second quarter. Allied Investment Advisors LLC now owns 249,266 shares of the financial services provider’s stock valued at $11,279,000 after acquiring an additional 14,301 shares during the last quarter. Richards Merrill & Peterson Inc. grew its holdings in shares of U.S. Bancorp by 2.5% during the second quarter. Richards Merrill & Peterson Inc. now owns 27,275 shares of the financial services provider’s stock worth $1,234,000 after purchasing an additional 661 shares during the last quarter. Lee Danner & Bass Inc. increased its position in shares of U.S. Bancorp by 2.6% during the second quarter. Lee Danner & Bass Inc. now owns 51,134 shares of the financial services provider’s stock worth $2,314,000 after purchasing an additional 1,275 shares in the last quarter. AlphaQuest LLC lifted its holdings in shares of U.S. Bancorp by 414.9% in the 2nd quarter. AlphaQuest LLC now owns 40,087 shares of the financial services provider’s stock valued at $1,814,000 after purchasing an additional 32,302 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in shares of U.S. Bancorp by 9.9% in the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,948,142 shares of the financial services provider’s stock valued at $178,653,000 after purchasing an additional 357,027 shares during the period. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Stock Performance

Shares of USB stock opened at $48.31 on Friday. The firm has a market capitalization of $75.17 billion, a P/E ratio of 11.05, a P/E/G ratio of 1.29 and a beta of 1.06. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $53.98. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.82 and a quick ratio of 0.82. The company’s fifty day moving average price is $48.10 and its two-hundred day moving average price is $45.19.

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

U.S. Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were paid a $0.52 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.3%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.50. U.S. Bancorp’s dividend payout ratio (DPR) is presently 47.60%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Wall Street Zen raised U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. Raymond James Financial raised shares of U.S. Bancorp from an “outperform” rating to a “strong-buy” rating and increased their price target for the stock from $51.00 to $57.00 in a report on Monday, July 7th. Wells Fargo & Company raised their target price on U.S. Bancorp from $50.00 to $52.00 and gave the company an “overweight” rating in a report on Friday, October 17th. UBS Group lifted 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, Truist Financial increased their price target on shares of U.S. Bancorp from $51.00 to $52.00 and gave the company a “hold” rating in a research report on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, U.S. Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $54.55.

Insider Activity at U.S. Bancorp

In other news, EVP James L. Chosy sold 26,909 shares of the firm’s stock in a transaction on Monday, October 20th. The stock was sold at an average price of $46.86, for a total transaction of $1,260,955.74. Following the completion of the sale, the executive vice president directly owned 226,375 shares of the company’s stock, valued at $10,607,932.50. This trade represents a 10.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Andrew Cecere sold 140,445 shares of the firm’s stock in a transaction on Monday, October 20th. The stock was sold at an average price of $46.34, for a total value of $6,508,221.30. Following the completion of the sale, 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. Insiders own 0.23% of the company’s stock.

U.S. Bancorp 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.