Golden State Wealth Management LLC Grows Stake in U.S. Bancorp (NYSE:USB)

Golden State Wealth Management LLC increased its holdings in shares of U.S. Bancorp (NYSE:USBFree Report) by 137.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,571 shares of the financial services provider’s stock after purchasing an additional 3,224 shares during the quarter. Golden State Wealth Management LLC’s holdings in U.S. Bancorp were worth $235,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. J.Safra Asset Management Corp purchased a new stake in shares of U.S. Bancorp during the fourth quarter worth about $26,000. Picton Mahoney Asset Management purchased a new stake in shares of U.S. Bancorp during the fourth quarter worth about $30,000. REAP Financial Group LLC grew its position in shares of U.S. Bancorp by 86.1% during the fourth quarter. REAP Financial Group LLC now owns 642 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 297 shares in the last quarter. Millstone Evans Group LLC purchased a new stake in shares of U.S. Bancorp during the fourth quarter worth about $31,000. Finally, Murphy & Mullick Capital Management Corp purchased a new stake in shares of U.S. Bancorp during the fourth quarter worth about $32,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Up 0.4%

USB stock opened at $45.79 on Friday. The firm has a 50 day moving average of $42.93 and a 200 day moving average of $44.54. The stock has a market capitalization of $71.35 billion, a PE ratio of 11.33, a price-to-earnings-growth ratio of 1.72 and a beta of 0.99. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.11. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $53.98.

U.S. Bancorp (NYSE:USBGet Free Report) last released its earnings results on Wednesday, April 16th. The financial services provider reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.06. The company had revenue of $6.96 billion during the quarter, compared to analysts’ expectations of $6.92 billion. U.S. Bancorp had a net margin of 15.70% and a return on equity of 13.02%. During the same period last year, the business earned $0.78 EPS. Sell-side analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.37%. The ex-dividend date is Monday, June 30th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 49.50%.

Insider Buying and Selling

In other U.S. Bancorp news, Director Aleem Gillani acquired 5,000 shares of the firm’s stock in a transaction on Monday, April 21st. The stock was acquired at an average cost of $37.32 per share, for a total transaction of $186,600.00. Following the purchase, the director now owns 15,000 shares in the company, valued at approximately $559,800. The trade was a 50.00% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.23% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Morgan Stanley dropped their price target on U.S. Bancorp from $51.00 to $50.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. TD Cowen assumed coverage on U.S. Bancorp in a research note on Thursday, May 15th. They set a “buy” rating and a $60.00 price target for the company. Wall Street Zen lowered U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, June 7th. Wolfe Research raised U.S. Bancorp from a “peer perform” rating to an “outperform” rating and set a $49.00 price objective for the company in a research note on Thursday, April 3rd. Finally, Citigroup lowered their price objective on U.S. Bancorp from $65.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, March 24th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.72.

Read Our Latest Stock Report on U.S. Bancorp

U.S. Bancorp Profile

(Free Report)

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.

Further Reading

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

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