HighTower Advisors LLC Grows Stock Position in U.S. Bancorp $USB

HighTower Advisors LLC increased its stake in U.S. Bancorp (NYSE:USB) by 6.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 821,879 shares of the financial services provider’s stock after acquiring an additional 50,132 shares during the period. HighTower Advisors LLC owned approximately 0.05% of U.S. Bancorp worth $39,722,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Chemung Canal Trust Co. raised its stake in shares of U.S. Bancorp by 205.5% during the third quarter. Chemung Canal Trust Co. now owns 68,327 shares of the financial services provider’s stock valued at $3,302,000 after purchasing an additional 45,963 shares in the last quarter. Jones Financial Companies Lllp raised its position in shares of U.S. Bancorp by 15.3% during the 3rd quarter. Jones Financial Companies Lllp now owns 358,972 shares of the financial services provider’s stock worth $17,738,000 after buying an additional 47,537 shares in the last quarter. Synergy Asset Management LLC lifted its stake in shares of U.S. Bancorp by 100.0% in the 3rd quarter. Synergy Asset Management LLC now owns 119,962 shares of the financial services provider’s stock worth $5,428,000 after acquiring an additional 59,981 shares during the period. Andra AP fonden boosted its holdings in shares of U.S. Bancorp by 175.6% in the second quarter. Andra AP fonden now owns 458,400 shares of the financial services provider’s stock valued at $20,743,000 after acquiring an additional 292,100 shares in the last quarter. Finally, SteelPeak Wealth LLC increased its stake in shares of U.S. Bancorp by 757.8% during the third quarter. SteelPeak Wealth LLC now owns 176,500 shares of the financial services provider’s stock valued at $8,622,000 after acquiring an additional 155,925 shares during the period. Institutional investors and hedge funds own 77.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on USB shares. TD Cowen increased their price target on U.S. Bancorp from $65.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, January 21st. UBS Group reaffirmed a “neutral” rating and set a $60.00 target price on shares of U.S. Bancorp in a research note on Wednesday, February 4th. Argus boosted their price target on shares of U.S. Bancorp from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Weiss Ratings restated a “buy (b-)” rating on shares of U.S. Bancorp in a research report on Wednesday, January 21st. Finally, Truist Financial boosted their target price on shares of U.S. Bancorp from $58.00 to $61.00 and gave the stock a “hold” rating in a report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $59.79.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, insider Mark G. Runkel sold 32,195 shares of the stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $60.65, for a total value of $1,952,626.75. Following the completion of the sale, the insider owned 97,728 shares in the company, valued at $5,927,203.20. This represents a 24.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Price Performance

Shares of NYSE:USB opened at $58.16 on Wednesday. The company’s fifty day moving average is $55.68 and its two-hundred day moving average is $50.56. The company has a market cap of $90.41 billion, a P/E ratio of 12.59, a price-to-earnings-growth ratio of 1.03 and a beta of 1.06. U.S. Bancorp has a 12-month low of $35.18 and a 12-month high of $61.19. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Tuesday, January 20th. The financial services provider reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.07. The business had revenue of $7.92 billion for the quarter, compared to the consensus estimate of $7.31 billion. U.S. Bancorp had a return on equity of 13.48% and a net margin of 17.66%.U.S. Bancorp’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.07 earnings per share. Equities analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend was Wednesday, December 31st. U.S. Bancorp’s dividend payout ratio is 45.02%.

About U.S. Bancorp

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.