U.S. Bancorp (NYSE:USB) Shares Purchased by Avantax Planning Partners Inc.

Avantax Planning Partners Inc. boosted its stake in U.S. Bancorp (NYSE:USBGet Rating) by 4.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,861 shares of the financial services provider’s stock after purchasing an additional 3,072 shares during the period. Avantax Planning Partners Inc.’s holdings in U.S. Bancorp were worth $3,979,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Qube Research & Technologies Ltd acquired a new stake in shares of U.S. Bancorp during the fourth quarter valued at about $52,720,000. Kornitzer Capital Management Inc. KS lifted its position in shares of U.S. Bancorp by 2.7% during the fourth quarter. Kornitzer Capital Management Inc. KS now owns 54,553 shares of the financial services provider’s stock worth $3,064,000 after purchasing an additional 1,445 shares during the last quarter. Cim Investment Management Inc. lifted its position in shares of U.S. Bancorp by 98.1% during the fourth quarter. Cim Investment Management Inc. now owns 13,283 shares of the financial services provider’s stock worth $768,000 after purchasing an additional 6,578 shares during the last quarter. Mount Yale Investment Advisors LLC lifted its position in shares of U.S. Bancorp by 19.0% during the fourth quarter. Mount Yale Investment Advisors LLC now owns 10,479 shares of the financial services provider’s stock worth $589,000 after purchasing an additional 1,670 shares during the last quarter. Finally, RFG Advisory LLC lifted its position in shares of U.S. Bancorp by 3.8% during the fourth quarter. RFG Advisory LLC now owns 12,797 shares of the financial services provider’s stock worth $719,000 after purchasing an additional 472 shares during the last quarter. 74.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on USB shares. Wells Fargo & Company cut their target price on shares of U.S. Bancorp from $70.00 to $60.00 and set an “overweight” rating on the stock in a report on Friday, July 1st. UBS Group cut shares of U.S. Bancorp from a “buy” rating to a “neutral” rating and cut their target price for the stock from $64.00 to $56.00 in a report on Friday, April 8th. Piper Sandler set a $50.00 target price on shares of U.S. Bancorp in a report on Tuesday, July 19th. Credit Suisse Group cut their price target on U.S. Bancorp from $57.00 to $54.00 and set a “neutral” rating on the stock in a report on Tuesday, July 19th. Finally, Morgan Stanley lifted their price target on U.S. Bancorp from $54.00 to $57.00 and gave the company an “equal weight” rating in a report on Monday, July 18th. One analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, U.S. Bancorp has a consensus rating of “Hold” and an average price target of $58.47.

U.S. Bancorp Price Performance

U.S. Bancorp stock traded up $0.32 during mid-day trading on Friday, hitting $47.39. The company’s stock had a trading volume of 4,061,146 shares, compared to its average volume of 6,306,397. The company has a quick ratio of 0.74, a current ratio of 0.75 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $70.41 billion, a P/E ratio of 10.89, a P/E/G ratio of 1.62 and a beta of 0.97. U.S. Bancorp has a twelve month low of $43.74 and a twelve month high of $63.57. The stock’s fifty day moving average price is $47.66 and its two-hundred day moving average price is $51.95.

U.S. Bancorp (NYSE:USBGet Rating) last posted its quarterly earnings data on Friday, July 15th. The financial services provider reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.02. The firm had revenue of $6.01 billion for the quarter, compared to analysts’ expectations of $5.89 billion. U.S. Bancorp had a net margin of 28.08% and a return on equity of 15.05%. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.28 EPS. Research analysts forecast that U.S. Bancorp will post 4.48 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Thursday, June 30th were paid a $0.46 dividend. The ex-dividend date was Wednesday, June 29th. This represents a $1.84 dividend on an annualized basis and a yield of 3.88%. U.S. Bancorp’s payout ratio is currently 42.30%.

About U.S. Bancorp

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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 in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments.

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Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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