U.S. Bancorp $USB Stock Holdings Boosted by SteelPeak Wealth LLC

SteelPeak Wealth LLC lifted its position in U.S. Bancorp (NYSE:USB) by 757.8% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 176,500 shares of the financial services provider’s stock after buying an additional 155,925 shares during the period. SteelPeak Wealth LLC’s holdings in U.S. Bancorp were worth $8,622,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. IMG Wealth Management Inc. bought a new stake in U.S. Bancorp in the second quarter worth about $25,000. Hillsdale Investment Management Inc. bought a new stake in shares of U.S. Bancorp in the 2nd quarter worth approximately $27,000. Pineridge Advisors LLC lifted its stake in U.S. Bancorp by 446.2% during the second quarter. Pineridge Advisors LLC now owns 639 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 522 shares during the last quarter. True Wealth Design LLC boosted its holdings in U.S. Bancorp by 216.7% during the third quarter. True Wealth Design LLC now owns 738 shares of the financial services provider’s stock worth $36,000 after buying an additional 505 shares in the last quarter. Finally, Activest Wealth Management boosted its holdings in U.S. Bancorp by 846.5% during the second quarter. Activest Wealth Management now owns 814 shares of the financial services provider’s stock worth $37,000 after buying an additional 728 shares in the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. UBS Group increased their price objective on U.S. Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a research report on Tuesday, October 7th. Evercore ISI upped their target price on U.S. Bancorp from $49.00 to $54.00 and gave the company an “in-line” rating in a report on Tuesday, September 30th. The Goldman Sachs Group set a $52.00 price target on U.S. Bancorp and gave the company a “neutral” rating in a research report on Friday, October 17th. Weiss Ratings reissued a “buy (b-)” rating on shares of U.S. Bancorp in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company boosted their price objective on U.S. Bancorp from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.95.

Insiders Place Their Bets

In related news, EVP James L. Chosy sold 26,909 shares of the stock in a transaction on Monday, October 20th. The stock was sold at an average price of $46.86, for a total transaction of $1,260,955.74. Following the completion of the sale, the executive vice president directly owned 226,375 shares in the company, valued at approximately $10,607,932.50. This trade represents a 10.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Andrew Cecere sold 140,445 shares of the business’s stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $46.34, for a total value of $6,508,221.30. Following the completion of the transaction, the chairman owned 1,360,414 shares in the company, valued at $63,041,584.76. This trade represents a 9.36% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Down 1.8%

NYSE:USB opened at $53.35 on Friday. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $55.15. The firm has a market capitalization of $82.93 billion, a price-to-earnings ratio of 12.21, a PEG ratio of 1.01 and a beta of 1.07. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.10. The business’s fifty day moving average price is $50.12 and its 200 day moving average price is $48.02.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Thursday, October 16th. The financial services provider reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.11. The company had revenue of $7.34 billion for the quarter, compared to the consensus estimate of $7.17 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.The firm’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.03 EPS. On average, sell-side analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be given a $0.52 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $2.08 dividend on an annualized basis and a yield of 3.9%. U.S. Bancorp’s dividend payout ratio is presently 47.60%.

About U.S. Bancorp

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.