IFP Advisors Inc Purchases 15,822 Shares of U.S. Bancorp $USB

IFP Advisors Inc increased its position in U.S. Bancorp (NYSE:USB) by 99.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,715 shares of the financial services provider’s stock after purchasing an additional 15,822 shares during the period. IFP Advisors Inc’s holdings in U.S. Bancorp were worth $1,692,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Citigroup Inc. raised its position in U.S. Bancorp by 2.4% in the 3rd quarter. Citigroup Inc. now owns 1,749,812 shares of the financial services provider’s stock worth $84,568,000 after buying an additional 41,803 shares during the last quarter. Jones Financial Companies Lllp raised its position in U.S. Bancorp by 15.3% in 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 during the last quarter. Danske Bank A S purchased a new position in U.S. Bancorp in the 3rd quarter worth about $37,162,000. Roman Butler Fullerton & Co. purchased a new position in U.S. Bancorp in the 3rd quarter worth about $893,000. Finally, Nordea Investment Management AB raised its position in U.S. Bancorp by 15.3% in the 4th quarter. Nordea Investment Management AB now owns 2,690,174 shares of the financial services provider’s stock worth $144,462,000 after buying an additional 357,300 shares during the last quarter. Institutional investors own 77.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on USB. Royal Bank Of Canada boosted their target price on U.S. Bancorp from $59.00 to $61.00 and gave the stock an “outperform” rating in a research report on Friday, April 17th. Oppenheimer upped their price target on shares of U.S. Bancorp from $73.00 to $74.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. DA Davidson reaffirmed a “buy” rating and set a $65.00 price target on shares of U.S. Bancorp in a research report on Friday, April 17th. Jefferies Financial Group reaffirmed a “hold” rating and set a $60.00 price target on shares of U.S. Bancorp in a research report on Thursday, April 16th. Finally, Truist Financial reduced their price target on shares of U.S. Bancorp from $63.00 to $62.00 and set a “buy” rating for the company in a research report on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $61.20.

Insider Activity at U.S. Bancorp

In related news, EVP Venkatachari Dilip sold 34,522 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total value of $1,916,661.44. Following the completion of the sale, the executive vice president directly owned 51,292 shares of the company’s stock, valued at approximately $2,847,731.84. This represents a 40.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jodi L. Richard sold 40,000 shares of the stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the completion of the sale, the insider directly owned 207,251 shares of the company’s stock, valued at $11,813,307. This represents a 16.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.21% of the company’s stock.

U.S. Bancorp Price Performance

NYSE USB opened at $54.85 on Friday. U.S. Bancorp has a 52 week low of $42.21 and a 52 week high of $61.19. The firm has a market capitalization of $85.14 billion, a P/E ratio of 11.50, a PEG ratio of 0.98 and a beta of 1.00. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.03. The company has a 50-day moving average price of $54.07 and a 200-day moving average price of $53.64.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Thursday, April 16th. The financial services provider reported $1.18 EPS for the quarter, beating the consensus estimate of $1.14 by $0.04. The firm had revenue of $7.32 billion during the quarter, compared to analyst estimates of $7.27 billion. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.03 EPS. Equities research analysts anticipate that U.S. Bancorp will post 5.09 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Tuesday, March 31st. U.S. Bancorp’s dividend payout ratio is currently 43.61%.

U.S. Bancorp Profile

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.