NewEdge Wealth LLC Acquires 10,817 Shares of U.S. Bancorp $USB

NewEdge Wealth LLC increased its stake in shares of U.S. Bancorp (NYSE:USB) by 84.7% during the third quarter, HoldingsChannel reports. The fund owned 23,591 shares of the financial services provider’s stock after acquiring an additional 10,817 shares during the quarter. NewEdge Wealth LLC’s holdings in U.S. Bancorp were worth $1,103,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of USB. Parcion Private Wealth LLC increased its holdings in shares of U.S. Bancorp by 0.4% during the 3rd quarter. Parcion Private Wealth LLC now owns 53,412 shares of the financial services provider’s stock worth $2,581,000 after purchasing an additional 218 shares during the period. Bogart Wealth LLC increased its stake in U.S. Bancorp by 4.4% during the third quarter. Bogart Wealth LLC now owns 5,507 shares of the financial services provider’s stock valued at $266,000 after acquiring an additional 234 shares during the period. Hoxton Planning & Management LLC raised its holdings in U.S. Bancorp by 3.4% in the 3rd quarter. Hoxton Planning & Management LLC now owns 7,021 shares of the financial services provider’s stock valued at $339,000 after acquiring an additional 234 shares in the last quarter. Allen Mooney & Barnes Investment Advisors LLC lifted its position in shares of U.S. Bancorp by 0.5% in the 3rd quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 43,289 shares of the financial services provider’s stock worth $2,092,000 after acquiring an additional 235 shares during the period. Finally, Crestwood Advisors Group LLC grew its holdings in shares of U.S. Bancorp by 3.5% during the 2nd quarter. Crestwood Advisors Group LLC now owns 7,021 shares of the financial services provider’s stock worth $318,000 after purchasing an additional 237 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other U.S. Bancorp news, insider Mark G. Runkel sold 32,195 shares of the business’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $60.65, for a total value of $1,952,626.75. Following the transaction, the insider owned 97,728 shares of the company’s stock, valued at approximately $5,927,203.20. The trade was a 24.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Trading Up 1.3%

Shares of USB stock opened at $58.63 on Monday. U.S. Bancorp has a 12-month low of $35.18 and a 12-month high of $61.19. The company has a market capitalization of $91.13 billion, a P/E ratio of 12.69, a P/E/G ratio of 1.05 and a beta of 1.06. The firm has a 50-day moving average price of $55.98 and a 200 day moving average price of $50.86. 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 (NYSE:USB) last issued its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $1.26 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $7.31 billion. During the same period in the prior year, the firm earned $1.07 earnings per share. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. Research analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were given a $0.52 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $2.08 annualized dividend and a yield of 3.5%. U.S. Bancorp’s payout ratio is presently 45.02%.

Wall Street Analysts Forecast Growth

USB has been the subject of a number of recent research reports. Barclays upped their target price on U.S. Bancorp from $56.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, January 5th. UBS Group reaffirmed a “neutral” rating and set a $60.00 price objective on shares of U.S. Bancorp in a report on Wednesday, February 4th. HSBC reiterated a “buy” rating and set a $62.00 target price on shares of U.S. Bancorp in a research report on Wednesday, January 7th. Wolfe Research lowered shares of U.S. Bancorp from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 7th. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $59.79.

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.