Evansbrook LLC Buys Shares of 16,768 U.S. Bancorp $USB

Evansbrook LLC bought a new stake in U.S. Bancorp (NYSE:USB) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 16,768 shares of the financial services provider’s stock, valued at approximately $895,000.

Other hedge funds have also made changes to their positions in the company. Axxcess Wealth Management LLC boosted its holdings in shares of U.S. Bancorp by 203.2% during the fourth quarter. Axxcess Wealth Management LLC now owns 13,124 shares of the financial services provider’s stock worth $700,000 after purchasing an additional 8,795 shares during the period. Birchwood Financial Partners Inc. acquired a new position in U.S. Bancorp in the 4th quarter valued at approximately $267,000. Corient Private Wealth LLC increased its stake in U.S. Bancorp by 33.1% in the 4th quarter. Corient Private Wealth LLC now owns 538,576 shares of the financial services provider’s stock valued at $27,194,000 after buying an additional 133,965 shares during the period. Mercer Global Advisors Inc. ADV lifted its position in U.S. Bancorp by 29.3% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 311,967 shares of the financial services provider’s stock worth $16,665,000 after buying an additional 70,690 shares in the last quarter. Finally, Summit Global Investments purchased a new stake in U.S. Bancorp in the 4th quarter worth approximately $545,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Stock Up 0.3%

U.S. Bancorp stock opened at $58.07 on Friday. The firm has a market cap of $90.07 billion, a price-to-earnings ratio of 12.17, a P/E/G ratio of 1.04 and a beta of 0.97. The firm has a fifty day moving average price of $55.63 and a two-hundred day moving average price of $54.83. U.S. Bancorp has a fifty-two week low of $42.93 and a fifty-two week high of $61.19. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.81 and a quick ratio of 0.81.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Thursday, April 16th. The financial services provider reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.04. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.The business had revenue of $7.32 billion for the quarter, compared to analyst estimates of $7.27 billion. During the same period in the previous year, the company posted $1.03 earnings per share. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, analysts forecast that U.S. Bancorp will post 5.08 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.08 dividend on an annualized basis and a yield of 3.6%. U.S. Bancorp’s dividend payout ratio (DPR) is 43.61%.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, EVP Venkatachari Dilip sold 34,522 shares of U.S. Bancorp stock in a transaction that occurred 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 transaction, the executive vice president directly owned 51,292 shares of the company’s stock, valued at $2,847,731.84. The trade was a 40.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jodi L. Richard sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total value of $2,280,000.00. Following the transaction, the insider owned 207,251 shares of the company’s stock, valued at approximately $11,813,307. This trade represents a 16.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.21% of the company’s stock.

U.S. Bancorp News Roundup

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

• Positive Sentiment: U.S. Bancorp declared a quarterly dividend of $0.52 per share, signaling continued capital returns to shareholders and supporting the stock’s income appeal.
• Positive Sentiment: Recent articles from Zacks and Yahoo Finance highlighted USB as a potential value stock versus Northern Trust (NTRS), which can help reinforce investor interest in the shares as a relative-value play. USB vs. NTRS: Which Stock Should Value Investors Buy Now?
• Positive Sentiment: Another Zacks note said U.S. Bancorp is a top dividend stock to consider, reinforcing the bank’s appeal for income-focused investors. U.S. Bancorp (USB) is a Top Dividend Stock Right Now: Should You Buy?
• Neutral Sentiment: Elavon, a U.S. Bank subsidiary, expanded its All-In-One payments platform across North America, a long-term business development that is constructive but not likely a major near-term stock driver. Elavon expands All-In-One payments platform across North America to power integrated commerce

Analyst Upgrades and Downgrades

Several research firms have recently commented on USB. Piper Sandler restated a “buy” rating on shares of U.S. Bancorp in a report on Thursday, February 26th. Weiss Ratings upgraded U.S. Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Barclays increased their price objective on U.S. Bancorp from $65.00 to $67.00 and gave the stock an “overweight” rating in a report on Friday, April 17th. Wall Street Zen downgraded U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, June 6th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $60.00 target price on shares of U.S. Bancorp in a research note on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $61.29.

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.