Ritholtz Wealth Management Purchases 42,262 Shares of U.S. Bancorp $USB

Ritholtz Wealth Management grew its position in shares of U.S. Bancorp (NYSE:USB) by 54.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 120,251 shares of the financial services provider’s stock after buying an additional 42,262 shares during the quarter. Ritholtz Wealth Management’s holdings in U.S. Bancorp were worth $5,812,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in U.S. Bancorp by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 143,269,275 shares of the financial services provider’s stock valued at $6,482,935,000 after purchasing an additional 2,038,996 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of U.S. Bancorp by 1.3% in the second quarter. Geode Capital Management LLC now owns 36,632,410 shares of the financial services provider’s stock valued at $1,650,305,000 after buying an additional 456,890 shares in the last quarter. Norges Bank bought a new position in shares of U.S. Bancorp in the second quarter valued at about $971,285,000. Davis Selected Advisers lifted its position in U.S. Bancorp by 29.8% during the 2nd quarter. Davis Selected Advisers now owns 19,331,637 shares of the financial services provider’s stock worth $874,757,000 after buying an additional 4,442,623 shares in the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC increased its position in U.S. Bancorp by 3.7% in the 2nd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 16,569,422 shares of the financial services provider’s stock valued at $749,766,000 after acquiring an additional 585,968 shares in the last quarter. Institutional investors own 77.60% of the company’s stock.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, Chairman Andrew Cecere sold 140,445 shares of the firm’s stock in a transaction that occurred on Monday, October 20th. The stock was 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 directly owned 1,360,414 shares in the company, valued at $63,041,584.76. This trade represents a 9.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP James L. Chosy sold 26,909 shares of the company’s stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $46.86, for a total value of $1,260,955.74. Following the sale, the executive vice president owned 226,375 shares in the company, valued at approximately $10,607,932.50. This represents a 10.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Up 0.9%

NYSE:USB opened at $53.97 on Friday. The stock has a 50-day simple moving average of $51.66 and a 200 day simple moving average of $48.76. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $56.19. The company has a market cap of $83.89 billion, a PE ratio of 12.35, a PEG ratio of 0.93 and a beta of 1.07. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.82 and a current ratio of 0.82.

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

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $2.08 annualized dividend and a yield of 3.9%. U.S. Bancorp’s payout ratio is 47.60%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on USB shares. DA Davidson increased their price target on shares of U.S. Bancorp from $57.00 to $59.00 and gave the company a “buy” rating in a research note on Friday, October 17th. Morgan Stanley reissued a “positive” rating on shares of U.S. Bancorp in a research note on Friday, October 17th. Citigroup upped their price target on U.S. Bancorp from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, October 17th. Barclays lifted their price objective on U.S. Bancorp from $56.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. Finally, Truist Financial upped their target price on shares of U.S. Bancorp from $52.00 to $58.00 and gave the company a “hold” rating in a research report on Thursday, December 18th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $56.30.

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.