Premier Path Wealth Partners LLC Raises Stake in U.S. Bancorp $USB

Premier Path Wealth Partners LLC lifted its position in U.S. Bancorp (NYSE:USB) by 3.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 42,080 shares of the financial services provider’s stock after purchasing an additional 1,452 shares during the period. Premier Path Wealth Partners LLC’s holdings in U.S. Bancorp were worth $1,904,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC raised its holdings in U.S. Bancorp by 323.0% during the fourth quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider’s stock valued at $2,309,000 after acquiring an additional 36,863 shares during the period. Ameritas Advisory Services LLC raised its stake in U.S. Bancorp by 2.4% during the 1st quarter. Ameritas Advisory Services LLC now owns 21,488 shares of the financial services provider’s stock valued at $935,000 after purchasing an additional 506 shares during the period. Alta Advisers Ltd lifted its holdings in U.S. Bancorp by 51.6% in the 1st quarter. Alta Advisers Ltd now owns 7,640 shares of the financial services provider’s stock worth $323,000 after purchasing an additional 2,600 shares in the last quarter. Vontobel Holding Ltd. lifted its holdings in U.S. Bancorp by 36.9% in the 1st quarter. Vontobel Holding Ltd. now owns 42,636 shares of the financial services provider’s stock worth $1,800,000 after purchasing an additional 11,483 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in U.S. Bancorp by 7.2% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 233,157 shares of the financial services provider’s stock worth $9,844,000 after purchasing an additional 15,743 shares during the period. 77.60% of the stock is currently owned by institutional investors.

U.S. Bancorp Price Performance

USB stock opened at $46.56 on Thursday. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $53.98. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.10. The company has a fifty day simple moving average of $48.16 and a two-hundred day simple moving average of $45.42. The firm has a market capitalization of $72.45 billion, a P/E ratio of 10.65, a price-to-earnings-growth ratio of 1.26 and a beta of 1.06.

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

U.S. Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.5%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.50. The ex-dividend date was Tuesday, September 30th. U.S. Bancorp’s dividend payout ratio (DPR) is currently 47.60%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on USB. Wall Street Zen upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. Cowen reaffirmed a “buy” rating on shares of U.S. Bancorp in a research note on Monday, October 20th. Deutsche Bank Aktiengesellschaft upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $52.50 price target on the stock in a research note on Thursday, October 23rd. UBS Group raised their price objective on U.S. Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a research report on Tuesday, October 7th. Finally, Wells Fargo & Company lifted their target price on U.S. Bancorp from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, U.S. Bancorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.55.

Insider Buying and Selling

In other news, EVP James L. Chosy sold 26,909 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president owned 226,375 shares of the company’s stock, valued at approximately $10,607,932.50. The trade was a 10.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Andrew Cecere sold 140,445 shares of the stock in a transaction on Monday, October 20th. The shares were sold at an average price of $46.34, for a total value of $6,508,221.30. Following the sale, the chairman owned 1,360,414 shares in the company, valued at $63,041,584.76. The trade was a 9.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate 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.