Assetmark Inc. Has $18.59 Million Holdings in U.S. Bancorp $USB

Assetmark Inc. lifted its stake in shares of U.S. Bancorp (NYSE:USB) by 65.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 357,384 shares of the financial services provider’s stock after buying an additional 141,715 shares during the quarter. Assetmark Inc.’s holdings in U.S. Bancorp were worth $18,588,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of USB. Norges Bank acquired a new stake in U.S. Bancorp in the fourth quarter worth $1,887,497,000. Auto Owners Insurance Co grew its stake in U.S. Bancorp by 5,236.0% in the fourth quarter. Auto Owners Insurance Co now owns 33,350,000 shares of the financial services provider’s stock valued at $1,779,556,000 after acquiring an additional 32,725,000 shares during the period. Capital Research Global Investors acquired a new stake in U.S. Bancorp in the fourth quarter valued at approximately $296,377,000. SG Americas Securities LLC increased its holdings in shares of U.S. Bancorp by 3,451.9% during the fourth quarter. SG Americas Securities LLC now owns 4,332,659 shares of the financial services provider’s stock valued at $231,191,000 after acquiring an additional 4,210,676 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of U.S. Bancorp by 20.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 24,919,079 shares of the financial services provider’s stock valued at $1,329,683,000 after acquiring an additional 4,153,080 shares in the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Key Stories Impacting U.S. Bancorp

Here are the key news stories impacting U.S. Bancorp this week:

• Positive Sentiment: U.S. Bancorp posted Q2 earnings of $1.35 per share on revenue of $7.71 billion, both above estimates, with record quarterly revenue driven by loan growth, fee income, and a boost from its BTIG acquisition. U.S. Bancorp Q2 Earnings Beat Estimates on NII & Fee Revenue Growth
• Positive Sentiment: Management raised full-year revenue guidance to a 7% to 9% growth range, signaling confidence that momentum from higher net interest income and fee revenue will continue. Is USB’s Stronger Outlook And BTIG Fee Push Altering The Investment Case For U.S. Bancorp (USB)?
• Positive Sentiment: Several firms lifted price targets after the earnings release, including Oppenheimer, Wells Fargo, Truist, RBC, and Baird, reflecting improved sentiment around USB’s outlook. US Bancorp analysts boost their forecasts after upbeat Q2 results

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Jefferies Financial Group upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and boosted their price target for the company from $60.00 to $75.00 in a research note on Monday, July 6th. Barclays raised their price objective on shares of U.S. Bancorp from $67.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday. Keefe, Bruyette & Woods lifted their price objective on shares of U.S. Bancorp from $63.00 to $66.00 and gave the company a “market perform” rating in a report on Friday. Stephens boosted their target price on shares of U.S. Bancorp from $63.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Friday. Finally, Morgan Stanley boosted their target price on shares of U.S. Bancorp from $64.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.52.

Insiders Place Their Bets

In related 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 sale, the executive vice president owned 51,292 shares in the company, valued at approximately $2,847,731.84. This trade represents a 40.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jodi L. Richard sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the completion of the sale, the insider directly owned 207,251 shares in the company, valued at $11,813,307. This represents a 16.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.21% of the stock is owned by company insiders.

U.S. Bancorp Price Performance

USB opened at $63.14 on Monday. U.S. Bancorp has a 1 year low of $43.46 and a 1 year high of $64.84. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.83 and a quick ratio of 0.82. The company has a market capitalization of $97.93 billion, a price-to-earnings ratio of 12.60, a P/E/G ratio of 1.07 and a beta of 0.96. The firm’s fifty day moving average price is $57.89 and its two-hundred day moving average price is $56.09.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Thursday, July 16th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.07. The firm had revenue of $7.71 billion during the quarter, compared to analyst estimates of $7.58 billion. U.S. Bancorp had a return on equity of 13.69% and a net margin of 18.49%.During the same period last year, the firm posted $1.11 EPS. As a group, analysts anticipate that U.S. Bancorp will post 5.18 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a dividend of $0.52 per share. The ex-dividend date was Tuesday, June 30th. This represents a $2.08 annualized dividend and a dividend yield of 3.3%. U.S. Bancorp’s dividend payout ratio is currently 41.52%.

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.