Quotient Wealth Partners LLC Raises Stake in US Bancorp (NYSE:USB)

VaselineAugust 26, 2024

0 4 minutes read

US Bancorp logo Quotient Wealth Partners LLC boosted its stake in US Bancorp (NYSE:USB – Free Report) by 14.9% in the second quarter, Holdings Channel.com reports. The fund owned 6,297 shares of the financial services provider’s stock after purchasing an additional 816 shares during the quarter. Quotient Wealth Partners LLC’s holdings in US Bancorp were worth $250,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of USB. RWA Wealth Partners LLC purchased a new position in US Bancorp in the 4th quarter valued at $413,000. Linden Thomas Advisory Services LLC boosted its stake in US Bancorp by 3.1% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 27,330 shares of the financial services provider’s stock worth $1,183,000 after buying an additional 823 shares in the last quarter. Atria Wealth Solutions Inc. boosted its position in US Bancorp by 16.7% during the fourth quarter. Atria Wealth Solutions Inc. now owns 61,244 shares of the financial services provider’s stock worth $2,661,000 after purchasing an additional 8,750 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its stake in US Bancorp by 5.3% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 36,157 shares of the financial services provider’s stock valued at $1,565,000 after acquiring an additional 1,813 shares in the last quarter. Finally, Pittenger & Anderson Inc. raised its holdings in US Bancorp by 147.6% in the 4th quarter. Pittenger & Anderson Inc. now owns 16,775 shares of the financial services provider’s stock valued at $726,000 after acquiring an additional 10,000 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company’s shares.

Changes in Analyst Ratings

Several research analysts recently weighed in on USB shares. Evercore ISI upped their target price on US Bancorp from $45.00 to $48.00 and gave the stock an “in-line” rating in a report on Tuesday, June 25th. UBS Group boosted their price objective on US Bancorp from $43.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Citigroup upped their price target on US Bancorp from $45.00 to $49.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. DA Davidson upped their target price on shares of US Bancorp from $44.00 to $49.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. Finally, Wells Fargo & Company upped their price objective on shares of US Bancorp from $48.00 to $52.00 and gave the company an “overweight” rating in a report on Thursday, July 18th. Thirteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $48.23, according to MarketBeat.com.

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Insider activity at US Bancorp

In other US Bancorp news, Director Aleem Gillani purchased 10,000 shares of US Bancorp stock in a transaction dated Thursday, July 18th. The shares were bought at an average cost of $44.99 per share, for a total transaction of $449,900.00. Following the purchase, the director now directly owns 10,000 shares in the company, valued at $449,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Company insiders own 0.23% of the company’s shares.

US Bancorp shares rose 2.7%

NYSE:USB opened at $45.39 on Friday. US Bancorp has a 52-week low of $30.47 and a 52-week high of $45.88. The stock’s fifty day moving average is $42.12, and the two hundred day moving average is $41.70. The stock has a market cap of $70.83 billion, a price-to-earnings ratio of 15.03, a price-to-earnings-growth ratio of 4.20 and a beta of 1.04. The company has a quick ratio of 0.80, a current ratio of 0.81, and a debt-to-equity ratio of 1.05.

US Bancorp (NYSE:USB – Get Free Report ) last posted its earnings results on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.04. The firm had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.81 billion. US Bancorp had a return on equity of 13.34% and a net margin of 12.55%. US Bancorp’s revenue fell 4.3% year over year. In the same quarter last year, the company earned $1.12 EPS. research analysts anticipate that US Bancorp will post 3.9 EPS for the current year.

US Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were paid a $0.49 dividend. This represents an annualized dividend of $1.96 and a dividend yield of 4.32%. The ex-dividend date of this dividend was Friday, June 28th. US Bancorp’s payout ratio is 64.90%.

About US Bancorp

(Free report)

US Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, government entities and other financial institutions in the United States. It works through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; payment services; and the Treasury and Corporate Support segments.