Westshore Wealth LLC Invests $322,000 in U.S. Bancorp (NYSE:USB)

Westshore Wealth LLC bought a new position in shares of U.S. Bancorp (NYSE:USBGet Rating) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 7,004 shares of the financial services provider’s stock, valued at approximately $322,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Delos Wealth Advisors LLC acquired a new stake in U.S. Bancorp during the 4th quarter worth $29,000. Advocacy Wealth Management Services LLC boosted its stake in U.S. Bancorp by 72.3% during the 1st quarter. Advocacy Wealth Management Services LLC now owns 572 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 240 shares during the period. Westside Investment Management Inc. boosted its stake in U.S. Bancorp by 45.6% during the 1st quarter. Westside Investment Management Inc. now owns 648 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 203 shares during the period. Exane Derivatives acquired a new stake in U.S. Bancorp during the 1st quarter worth $41,000. Finally, Cyrus J. Lawrence LLC acquired a new stake in U.S. Bancorp during the 1st quarter worth $44,000. 74.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on USB shares. Piper Sandler set a $50.00 price target on shares of U.S. Bancorp in a research note on Tuesday, July 19th. Wolfe Research reduced their target price on shares of U.S. Bancorp from $62.00 to $54.00 and set an “outperform” rating for the company in a research note on Thursday, May 26th. Oppenheimer set a $68.00 target price on shares of U.S. Bancorp in a research note on Tuesday, July 19th. Credit Suisse Group reduced their target price on shares of U.S. Bancorp from $57.00 to $54.00 and set a “neutral” rating for the company in a research note on Tuesday, July 19th. Finally, Morgan Stanley raised their target price on shares of U.S. Bancorp from $54.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Monday, July 18th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, U.S. Bancorp has a consensus rating of “Hold” and an average target price of $58.56.

U.S. Bancorp Price Performance

NYSE:USB traded down $1.09 during mid-day trading on Friday, hitting $41.94. 200,685 shares of the company’s stock traded hands, compared to its average volume of 7,130,375. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.74 and a current ratio of 0.75. The firm’s 50 day simple moving average is $46.91 and its 200 day simple moving average is $49.37. U.S. Bancorp has a 1 year low of $43.00 and a 1 year high of $63.57. The company has a market cap of $62.31 billion, a PE ratio of 9.89, a price-to-earnings-growth ratio of 1.52 and a beta of 0.97.

U.S. Bancorp (NYSE:USBGet Rating) last posted its earnings results on Friday, July 15th. The financial services provider reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.02. U.S. Bancorp had a net margin of 28.08% and a return on equity of 15.05%. The firm had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5.89 billion. During the same period last year, the firm posted $1.28 EPS. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. Sell-side analysts expect that U.S. Bancorp will post 4.45 EPS for the current year.

U.S. Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be issued a dividend of $0.48 per share. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.46. This represents a $1.92 annualized dividend and a yield of 4.58%. The ex-dividend date of this dividend is Thursday, September 29th. U.S. Bancorp’s dividend payout ratio (DPR) is 42.30%.

About U.S. Bancorp

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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 in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments.

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

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