Ritholtz Wealth Management Has $8.53 Million Stock Position in U.S. Bancorp $USB

Ritholtz Wealth Management boosted its position in U.S. Bancorp (NYSE:USB) by 5.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 163,960 shares of the financial services provider’s stock after acquiring an additional 8,469 shares during the period. Ritholtz Wealth Management’s holdings in U.S. Bancorp were worth $8,528,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Danske Bank A S purchased a new position in shares of U.S. Bancorp during the 3rd quarter valued at $37,162,000. Nordea Investment Management AB grew its position in U.S. Bancorp by 15.3% during the fourth quarter. Nordea Investment Management AB now owns 2,690,174 shares of the financial services provider’s stock worth $144,462,000 after buying an additional 357,300 shares in the last quarter. Goodman Advisory Group LLC increased its stake in U.S. Bancorp by 30.5% in the 3rd quarter. Goodman Advisory Group LLC now owns 194,035 shares of the financial services provider’s stock worth $9,378,000 after acquiring an additional 45,365 shares during the last quarter. Lighthouse Investment Partners LLC raised its holdings in shares of U.S. Bancorp by 92.9% in the 3rd quarter. Lighthouse Investment Partners LLC now owns 252,335 shares of the financial services provider’s stock valued at $12,195,000 after acquiring an additional 121,529 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in shares of U.S. Bancorp by 2.6% during the 3rd quarter. Legal & General Group Plc now owns 9,238,404 shares of the financial services provider’s stock valued at $446,492,000 after acquiring an additional 238,123 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Wall Street Analysts Forecast Growth

USB has been the topic of several research analyst reports. Wall Street Zen upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. Piper Sandler reiterated a “buy” rating on shares of U.S. Bancorp in a research report on Thursday, February 26th. Truist Financial cut their price target on shares of U.S. Bancorp from $63.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, April 17th. Jefferies Financial Group reissued a “hold” rating and issued a $60.00 price target on shares of U.S. Bancorp in a report on Thursday, April 16th. Finally, Weiss Ratings upgraded shares of U.S. Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $61.29.

U.S. Bancorp Stock Performance

Shares of NYSE USB opened at $60.12 on Thursday. The stock has a market cap of $93.25 billion, a price-to-earnings ratio of 12.60, a P/E/G ratio of 1.04 and a beta of 0.97. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.03. U.S. Bancorp has a 1-year low of $43.46 and a 1-year high of $61.19. The stock’s 50-day moving average is $55.90 and its 200 day moving average is $55.09.

U.S. Bancorp (NYSE:USB) last released its earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.04. The company had revenue of $7.32 billion during the quarter, compared to the consensus estimate of $7.27 billion. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.U.S. Bancorp’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.03 EPS. On average, sell-side analysts anticipate that U.S. Bancorp will post 5.08 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Tuesday, June 30th. U.S. Bancorp’s payout ratio is presently 43.61%.

Insider Buying and Selling

In other news, insider Jodi L. Richard sold 40,000 shares of the company’s stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total value of $2,280,000.00. Following the completion of the sale, the insider owned 207,251 shares of the company’s stock, valued at approximately $11,813,307. This represents a 16.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Venkatachari Dilip sold 34,522 shares of the stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the transaction, the executive vice president directly owned 51,292 shares in the company, valued at approximately $2,847,731.84. This represents a 40.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.21% of the company’s stock.

U.S. Bancorp Company Profile

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.