Elevation Point Wealth Partners LLC Boosts Stake in U.S. Bancorp $USB

Elevation Point Wealth Partners LLC boosted its holdings in U.S. Bancorp (NYSE:USB) by 104.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,497 shares of the financial services provider’s stock after acquiring an additional 11,495 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in U.S. Bancorp were worth $1,099,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of USB. Chemung Canal Trust Co. lifted its position in shares of U.S. Bancorp by 205.5% during the 3rd quarter. Chemung Canal Trust Co. now owns 68,327 shares of the financial services provider’s stock valued at $3,302,000 after acquiring an additional 45,963 shares during the period. Citigroup Inc. grew its holdings in shares of U.S. Bancorp by 2.4% in the 3rd quarter. Citigroup Inc. now owns 1,749,812 shares of the financial services provider’s stock worth $84,568,000 after acquiring an additional 41,803 shares during the period. Jones Financial Companies Lllp increased its stake in U.S. Bancorp by 15.3% in the 3rd quarter. Jones Financial Companies Lllp now owns 358,972 shares of the financial services provider’s stock valued at $17,738,000 after purchasing an additional 47,537 shares in the last quarter. Synergy Asset Management LLC increased its stake in U.S. Bancorp by 100.0% in the 3rd quarter. Synergy Asset Management LLC now owns 119,962 shares of the financial services provider’s stock valued at $5,428,000 after purchasing an additional 59,981 shares in the last quarter. Finally, SteelPeak Wealth LLC raised its holdings in U.S. Bancorp by 757.8% during the third quarter. SteelPeak Wealth LLC now owns 176,500 shares of the financial services provider’s stock worth $8,622,000 after purchasing an additional 155,925 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Stock Performance

U.S. Bancorp stock opened at $51.15 on Tuesday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a fifty day moving average of $55.77 and a two-hundred day moving average of $51.64. The company has a market capitalization of $79.40 billion, a price-to-earnings ratio of 11.07, a PEG ratio of 0.91 and a beta of 1.04. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two week high of $61.19.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.07. The business had revenue of $7.92 billion for the quarter, compared to the consensus estimate of $7.31 billion. U.S. Bancorp had a return on equity of 13.48% and a net margin of 17.66%.The business’s revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.07 earnings per share. On average, analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be paid a $0.52 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $2.08 annualized dividend and a yield of 4.1%. U.S. Bancorp’s payout ratio is presently 45.02%.

Analyst Upgrades and Downgrades

A number of research firms have commented on USB. Wolfe Research downgraded U.S. Bancorp from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 7th. Keefe, Bruyette & Woods raised their price target on U.S. Bancorp from $58.00 to $59.00 and gave the company a “market perform” rating in a research report on Wednesday, January 21st. Barclays lifted their price target on U.S. Bancorp from $56.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. Truist Financial raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating and increased their price objective for the company from $61.00 to $66.00 in a research note on Thursday, February 26th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of U.S. Bancorp in a report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, U.S. Bancorp currently has an average rating of “Moderate Buy” and a consensus price target of $60.02.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, insider Mark G. Runkel sold 32,195 shares of the company’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $60.65, for a total value of $1,952,626.75. Following the transaction, the insider directly owned 97,728 shares in the company, valued at approximately $5,927,203.20. This represents a 24.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.21% of the company’s stock.

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.