Transcend Wealth Collective LLC Invests $1.77 Million in U.S. Bancorp (NYSE:USB)

Transcend Wealth Collective LLC acquired a new position in shares of U.S. Bancorp (NYSE:USB) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 29,837 shares of the financial services provider’s stock, valued at approximately $1,769,000.

Several other institutional investors have also bought and sold shares of USB. Fiera Capital Corp raised its holdings in shares of U.S. Bancorp by 13.3% in the 4th quarter. Fiera Capital Corp now owns 11,177,109 shares of the financial services provider’s stock valued at $662,691,000 after purchasing an additional 1,312,268 shares during the period. FIL Ltd raised its holdings in shares of U.S. Bancorp by 10.6% in the 4th quarter. FIL Ltd now owns 7,955,380 shares of the financial services provider’s stock valued at $471,675,000 after purchasing an additional 760,532 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of U.S. Bancorp by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,473,571 shares of the financial services provider’s stock valued at $383,819,000 after purchasing an additional 50,921 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of U.S. Bancorp by 1.0% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,888,418 shares of the financial services provider’s stock valued at $349,124,000 after purchasing an additional 55,609 shares during the period. Finally, Parametric Portfolio Associates LLC raised its holdings in shares of U.S. Bancorp by 6.7% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 5,287,171 shares of the financial services provider’s stock valued at $292,592,000 after purchasing an additional 330,313 shares during the period. Institutional investors own 76.41% of the company’s stock.

Shares of USB traded up $4.15 during mid-day trading on Thursday, hitting $36.18. 16,013,856 shares of the company’s stock were exchanged, compared to its average volume of 9,939,346. U.S. Bancorp has a 52 week low of $28.59 and a 52 week high of $61.11. The stock’s 50-day simple moving average is $45.41 and its 200-day simple moving average is $54.09. The firm has a market cap of $47.46 billion, a price-to-earnings ratio of 8.74, a price-to-earnings-growth ratio of 1.23 and a beta of 1.14. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.86.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $1.08 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.08. U.S. Bancorp had a net margin of 25.30% and a return on equity of 15.23%. The company had revenue of $5.92 billion for the quarter, compared to analysts’ expectations of $5.78 billion. During the same period last year, the firm earned $1.07 earnings per share. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. Analysts forecast that U.S. Bancorp will post 4.23 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be given a dividend of $0.42 per share. The ex-dividend date is Monday, March 30th. This represents a $1.68 annualized dividend and a dividend yield of 4.64%. U.S. Bancorp’s dividend payout ratio is 38.71%.

A number of brokerages have recently issued reports on USB. Oppenheimer cut shares of U.S. Bancorp from an “outperform” rating to a “market perform” rating in a report on Friday, December 20th. UBS Group lowered their price target on shares of U.S. Bancorp from $60.00 to $57.00 and set a “neutral” rating on the stock in a report on Friday, January 17th. Goldman Sachs Group raised shares of U.S. Bancorp from a “sell” rating to a “neutral” rating in a report on Friday, March 13th. Credit Suisse Group reissued a “sell” rating and issued a $52.00 price target on shares of U.S. Bancorp in a report on Monday, February 24th. Finally, Morgan Stanley lowered their price target on shares of U.S. Bancorp from $60.00 to $51.00 and set an “underweight” rating on the stock in a report on Monday, March 9th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $57.09.

U.S. Bancorp Company Profile

U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.

Further Reading: CD Ladder

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Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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