MAI Capital Management Grows Position in U.S. Bancorp $USB

MAI Capital Management raised its stake in shares of U.S. Bancorp (NYSE:USB) by 96.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 150,707 shares of the financial services provider’s stock after purchasing an additional 73,958 shares during the period. MAI Capital Management’s holdings in U.S. Bancorp were worth $7,284,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Parcion Private Wealth LLC raised its position in shares of U.S. Bancorp by 0.4% in the 3rd quarter. Parcion Private Wealth LLC now owns 53,412 shares of the financial services provider’s stock worth $2,581,000 after buying an additional 218 shares during the period. Bogart Wealth LLC increased its stake in U.S. Bancorp by 4.4% during the third quarter. Bogart Wealth LLC now owns 5,507 shares of the financial services provider’s stock worth $266,000 after acquiring an additional 234 shares during the last quarter. Hoxton Planning & Management LLC raised its holdings in shares of U.S. Bancorp by 3.4% in the 3rd quarter. Hoxton Planning & Management LLC now owns 7,021 shares of the financial services provider’s stock worth $339,000 after purchasing an additional 234 shares during the period. Allen Mooney & Barnes Investment Advisors LLC lifted its stake in shares of U.S. Bancorp by 0.5% in the 3rd quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 43,289 shares of the financial services provider’s stock valued at $2,092,000 after purchasing an additional 235 shares in the last quarter. Finally, Crestwood Advisors Group LLC lifted its stake in shares of U.S. Bancorp by 3.5% in the 2nd quarter. Crestwood Advisors Group LLC now owns 7,021 shares of the financial services provider’s stock valued at $318,000 after purchasing an additional 237 shares in the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Wall Street Analysts Forecast Growth

USB has been the topic of several research reports. Oppenheimer raised their price target on shares of U.S. Bancorp from $75.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, January 21st. TD Cowen increased their price objective on shares of U.S. Bancorp from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, January 21st. Truist Financial upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and lifted their target price for the company from $61.00 to $66.00 in a report on Thursday. UBS Group reiterated a “neutral” rating and issued a $60.00 price target on shares of U.S. Bancorp in a report on Wednesday, February 4th. Finally, JPMorgan Chase & Co. raised their price objective on U.S. Bancorp from $55.50 to $62.00 and gave the company an “underweight” rating in a research report on Monday, February 9th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $60.02.

U.S. Bancorp Stock Performance

NYSE:USB opened at $57.27 on Friday. The firm has a 50-day moving average of $56.16 and a two-hundred day moving average of $51.09. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a market cap of $88.98 billion, a P/E ratio of 12.40, a PEG ratio of 1.00 and a beta of 1.06. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $61.19.

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

U.S. Bancorp Announces Dividend

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

Insider Buying and Selling at U.S. Bancorp

In related news, insider Mark G. Runkel sold 32,195 shares of U.S. Bancorp stock in a transaction 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 approximately $5,927,203.20. The trade was a 24.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.23% of the company’s stock.

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.