SageView Advisory Group LLC Acquires 10,938 Shares of U.S. Bancorp (NYSE:USB)

SageView Advisory Group LLC increased its holdings in U.S. Bancorp (NYSE:USB) by 29.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,478 shares of the financial services provider’s stock after purchasing an additional 10,938 shares during the period. SageView Advisory Group LLC’s holdings in U.S. Bancorp were worth $2,058,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Scotia Capital Inc. boosted its holdings in U.S. Bancorp by 2.9% during the third quarter. Scotia Capital Inc. now owns 35,012 shares of the financial services provider’s stock valued at $1,158,000 after acquiring an additional 990 shares during the period. Spinnaker Trust bought a new stake in U.S. Bancorp during the fourth quarter valued at about $220,000. Tealwood Asset Management Inc. boosted its holdings in U.S. Bancorp by 33.4% during the fourth quarter. Tealwood Asset Management Inc. now owns 62,539 shares of the financial services provider’s stock valued at $2,707,000 after acquiring an additional 15,665 shares during the period. Louisiana State Employees Retirement System acquired a new position in shares of U.S. Bancorp during the fourth quarter valued at about $4,073,000. Finally, abrdn plc raised its position in shares of U.S. Bancorp by 71.9% during the fourth quarter. abrdn plc now owns 652,401 shares of the financial services provider’s stock valued at $28,236,000 after buying an additional 272,976 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors.

U.S. Bancorp Stock Performance

Shares of USB stock traded up $0.27 during midday trading on Friday, hitting $40.29. 1,739,349 shares of the company were exchanged, compared to its average volume of 8,342,072. The firm has a market capitalization of $62.87 billion, a P/E ratio of 13.25, a PEG ratio of 3.93 and a beta of 1.05. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.81 and a current ratio of 0.82. The firm’s 50 day moving average price is $42.02 and its two-hundred day moving average price is $41.29. U.S. Bancorp has a 52 week low of $29.33 and a 52 week high of $45.85.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, April 17th. The financial services provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.89 by $0.01. The company had revenue of $6.72 billion during the quarter, compared to analysts’ expectations of $6.71 billion. U.S. Bancorp had a net margin of 12.13% and a return on equity of 13.93%. The business’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.16 EPS. As a group, equities research analysts anticipate that U.S. Bancorp will post 3.84 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were given a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 4.86%. The ex-dividend date of this dividend was Wednesday, March 27th. U.S. Bancorp’s dividend payout ratio (DPR) is currently 64.90%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. StockNews.com raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, May 14th. Oppenheimer cut their price objective on shares of U.S. Bancorp from $55.00 to $54.00 and set an “outperform” rating for the company in a research report on Thursday, April 18th. UBS Group dropped their price target on shares of U.S. Bancorp from $47.00 to $43.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. Wells Fargo & Company dropped their price target on shares of U.S. Bancorp from $50.00 to $48.00 and set an “overweight” rating for the company in a research report on Thursday, April 18th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of U.S. Bancorp from $45.00 to $43.50 and set an “overweight” rating for the company in a report on Wednesday, May 1st. Fifteen analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, U.S. Bancorp presently has an average rating of “Hold” and an average price target of $46.02.

U.S. Bancorp Profile

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 through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.