AE Wealth Management LLC Has $24.19 Million Position in U.S. Bancorp $USB

AE Wealth Management LLC increased its position in shares of U.S. Bancorp (NYSE:USB) by 5.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 500,506 shares of the financial services provider’s stock after buying an additional 24,798 shares during the quarter. AE Wealth Management LLC’s holdings in U.S. Bancorp were worth $24,190,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Great Lakes Advisors LLC lifted its position in U.S. Bancorp by 288.2% in the third quarter. Great Lakes Advisors LLC now owns 19,303 shares of the financial services provider’s stock worth $933,000 after purchasing an additional 14,331 shares during the period. Fidelis Capital Partners LLC bought a new position in shares of U.S. Bancorp during the 3rd quarter worth about $336,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of U.S. Bancorp by 11.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 238,896 shares of the financial services provider’s stock valued at $11,546,000 after acquiring an additional 23,780 shares in the last quarter. Ballentine Partners LLC increased its stake in U.S. Bancorp by 2.0% in the third quarter. Ballentine Partners LLC now owns 21,407 shares of the financial services provider’s stock valued at $1,035,000 after acquiring an additional 425 shares during the period. Finally, Federated Hermes Inc. raised its position in U.S. Bancorp by 12.3% in the third quarter. Federated Hermes Inc. now owns 11,153,092 shares of the financial services provider’s stock worth $539,029,000 after purchasing an additional 1,221,784 shares in the last quarter. Institutional investors own 77.60% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on USB. TD Cowen lifted their price objective on U.S. Bancorp from $65.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft raised U.S. Bancorp from a “hold” rating to a “buy” rating and set a $52.50 price target on the stock in a research note on Thursday, October 23rd. DA Davidson increased their price objective on U.S. Bancorp from $63.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, January 21st. Oppenheimer lifted their price objective on U.S. Bancorp from $75.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, January 21st. Finally, Bank of America upped their target price on shares of U.S. Bancorp from $54.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $58.19.

U.S. Bancorp Stock Performance

U.S. Bancorp stock opened at $56.35 on Friday. The stock has a 50-day simple moving average of $53.37 and a 200 day simple moving average of $49.33. The stock has a market capitalization of $87.60 billion, a price-to-earnings ratio of 12.20, a P/E/G ratio of 1.00 and a beta of 1.07. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. U.S. Bancorp has a 12-month low of $35.18 and a 12-month high of $56.70.

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

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $2.08 annualized dividend and a yield of 3.7%. U.S. Bancorp’s dividend payout ratio is currently 45.02%.

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.