U.S. Bancorp $USB Shares Purchased by Solitude Financial Services

Solitude Financial Services raised its holdings in shares of U.S. Bancorp (NYSE:USB) by 286.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,158 shares of the financial services provider’s stock after purchasing an additional 15,677 shares during the period. U.S. Bancorp comprises about 0.4% of Solitude Financial Services’ portfolio, making the stock its 23rd largest holding. Solitude Financial Services’ holdings in U.S. Bancorp were worth $1,193,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Clayton Financial Group LLC acquired a new position in shares of U.S. Bancorp in the 4th quarter valued at about $25,000. Financial Life Planners acquired a new stake in U.S. Bancorp during the third quarter worth about $25,000. Rossby Financial LCC lifted its holdings in U.S. Bancorp by 57.8% in the fourth quarter. Rossby Financial LCC now owns 579 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 212 shares during the last quarter. JPL Wealth Management LLC acquired a new position in U.S. Bancorp in the third quarter valued at approximately $28,000. Finally, Westfuller Advisors LLC boosted its stake in U.S. Bancorp by 54.7% in the fourth quarter. Westfuller Advisors LLC now owns 608 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 215 shares during the period. 77.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on USB shares. Oppenheimer upped their target price on U.S. Bancorp from $73.00 to $74.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. Truist Financial cut their price target on U.S. Bancorp from $63.00 to $62.00 and set a “buy” rating on the stock in a report on Friday, April 17th. Stephens assumed coverage on U.S. Bancorp in a research report on Monday, June 15th. They set an “equal weight” rating and a $63.00 price objective for the company. Royal Bank Of Canada upped their price objective on U.S. Bancorp from $59.00 to $61.00 and gave the stock an “outperform” rating in a research note on Friday, April 17th. Finally, JPMorgan Chase & Co. dropped their target price on U.S. Bancorp from $58.00 to $57.50 and set an “underweight” rating on the stock in a research report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, U.S. Bancorp has an average rating of “Moderate Buy” and a consensus price target of $61.29.

U.S. Bancorp Price Performance

NYSE USB opened at $58.07 on Friday. The company has a 50-day moving average price of $55.69 and a two-hundred day moving average price of $54.86. U.S. Bancorp has a 52 week low of $42.93 and a 52 week high of $61.19. The stock has a market cap of $90.07 billion, a price-to-earnings ratio of 12.17, a price-to-earnings-growth ratio of 1.01 and a beta of 0.97. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.03.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.04. The company had revenue of $7.32 billion for the quarter, compared to analysts’ expectations of $7.27 billion. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.03 earnings per share. Analysts forecast that U.S. Bancorp will post 5.08 EPS for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 3.6%. The ex-dividend date is Tuesday, June 30th. U.S. Bancorp’s dividend payout ratio (DPR) is currently 43.61%.

Insider Buying and Selling at U.S. Bancorp

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

U.S. Bancorp Company 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.