Resonant Capital Advisors LLC Purchases 56,444 Shares of U.S. Bancorp (NYSE:USB)

Resonant Capital Advisors LLC lifted its holdings in U.S. Bancorp (NYSE:USB) by 493.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 67,872 shares of the financial services provider’s stock after buying an additional 56,444 shares during the period. Resonant Capital Advisors LLC’s holdings in U.S. Bancorp were worth $2,971,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CGC Financial Services LLC bought a new stake in U.S. Bancorp in the fourth quarter valued at $25,000. BKM Wealth Management LLC bought a new stake in U.S. Bancorp in the 4th quarter valued at about $26,000. Planned Solutions Inc. acquired a new position in U.S. Bancorp during the 4th quarter worth approximately $27,000. Legacy Financial Group LLC bought a new position in U.S. Bancorp in the third quarter worth approximately $30,000. Finally, First Command Advisory Services Inc. acquired a new stake in U.S. Bancorp in the third quarter valued at approximately $35,000. 77.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on USB. Oppenheimer lowered their price objective on shares of U.S. Bancorp from $55.00 to $54.00 and set an “outperform” rating on the stock in a report on Thursday. Barclays lowered their target price on shares of U.S. Bancorp from $56.00 to $52.00 and set an “overweight” rating on the stock in a report on Thursday. StockNews.com downgraded U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, February 20th. Piper Sandler reissued a “neutral” rating on shares of U.S. Bancorp in a report on Friday, January 26th. Finally, HSBC upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and raised their target price for the company from $47.00 to $53.00 in a report on Thursday, March 28th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $46.68.

U.S. Bancorp Stock Performance

Shares of USB stock traded up $0.69 during trading on Friday, reaching $40.13. 7,971,407 shares of the company’s stock traded hands, compared to its average volume of 8,782,556. The company has a market capitalization of $62.53 billion, a P/E ratio of 13.27, a PEG ratio of 2.04 and a beta of 1.05. U.S. Bancorp has a 1 year low of $27.27 and a 1 year high of $45.85. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 1.07. The firm’s 50-day moving average is $42.31 and its 200 day moving average is $39.72.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.01. U.S. Bancorp had a return on equity of 13.93% and a net margin of 12.13%. The firm had revenue of $6.72 billion for the quarter, compared to analysts’ expectations of $6.71 billion. During the same quarter last year, the firm posted $1.16 EPS. The company’s revenue was down 6.4% compared to the same quarter last year. Equities research analysts expect that U.S. Bancorp will post 3.87 EPS for the current year.

U.S. Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were given a dividend of $0.49 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.96 annualized dividend and a dividend yield of 4.88%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 64.90%.

Insider Activity at U.S. Bancorp

In other news, EVP James L. Chosy sold 21,582 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $41.47, for a total value of $895,005.54. Following the completion of the sale, the executive vice president now owns 164,880 shares of the company’s stock, valued at approximately $6,837,573.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP James L. Chosy sold 21,582 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $41.47, for a total transaction of $895,005.54. Following the completion of the sale, the executive vice president now directly owns 164,880 shares in the company, valued at approximately $6,837,573.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Terrance R. Dolan sold 26,583 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $43.37, for a total value of $1,152,904.71. Following the transaction, the insider now owns 144,236 shares in the company, valued at $6,255,515.32. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by insiders.

U.S. Bancorp Profile

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 through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.