Wedgewood Partners Inc. Sells 6,408 Shares of U.S. Bancorp (NYSE:USB)

Wedgewood Partners Inc. lowered its stake in U.S. Bancorp (NYSE:USBGet Rating) by 15.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 33,805 shares of the financial services provider’s stock after selling 6,408 shares during the period. U.S. Bancorp makes up 0.3% of Wedgewood Partners Inc.’s holdings, making the stock its 24th biggest holding. Wedgewood Partners Inc.’s holdings in U.S. Bancorp were worth $1,796,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of USB. B. Riley Wealth Management Inc. boosted its stake in U.S. Bancorp by 19.3% in the fourth quarter. B. Riley Wealth Management Inc. now owns 4,546 shares of the financial services provider’s stock valued at $255,000 after buying an additional 737 shares in the last quarter. Paradigm Financial Partners LLC acquired a new stake in U.S. Bancorp in the fourth quarter valued at about $1,181,000. CarsonAllaria Wealth Management Ltd. acquired a new stake in U.S. Bancorp in the fourth quarter valued at about $36,000. Confluence Wealth Services Inc. acquired a new stake in U.S. Bancorp in the fourth quarter valued at about $65,000. Finally, Rational Advisors LLC boosted its stake in U.S. Bancorp by 31.6% in the fourth quarter. Rational Advisors LLC now owns 21,553 shares of the financial services provider’s stock valued at $1,211,000 after buying an additional 5,173 shares in the last quarter. Institutional investors own 74.93% of the company’s stock.

U.S. Bancorp Price Performance

Shares of USB opened at $47.58 on Friday. U.S. Bancorp has a 52-week low of $43.74 and a 52-week high of $63.57. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.74 and a current ratio of 0.75. The business’s 50 day moving average price is $47.05 and its two-hundred day moving average price is $50.04. The firm has a market cap of $70.69 billion, a PE ratio of 10.94, a price-to-earnings-growth ratio of 1.59 and a beta of 0.97.

U.S. Bancorp (NYSE:USBGet Rating) last issued its quarterly earnings results on Friday, July 15th. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.02. U.S. Bancorp had a return on equity of 15.05% and a net margin of 28.08%. The firm had revenue of $6.01 billion for the quarter, compared to analyst estimates of $5.89 billion. During the same period in the previous year, the firm earned $1.28 earnings per share. The company’s revenue was up 4.0% compared to the same quarter last year. On average, equities analysts anticipate that U.S. Bancorp will post 4.45 EPS for the current year.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Thursday, June 30th were paid a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 3.87%. The ex-dividend date of this dividend was Wednesday, June 29th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 42.30%.

Wall Street Analysts Forecast Growth

USB has been the topic of a number of recent research reports. Oppenheimer set a $68.00 price target on U.S. Bancorp in a research note 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 research note on Tuesday, July 19th. Wells Fargo & Company cut their price target on U.S. Bancorp from $70.00 to $60.00 and set an “overweight” rating on the stock in a research note on Friday, July 1st. Piper Sandler set a $50.00 price target on U.S. Bancorp in a research note on Tuesday, July 19th. Finally, Royal Bank of Canada cut their price target on U.S. Bancorp from $66.00 to $60.00 and set an “outperform” rating on the stock in a research note on Friday, July 1st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $58.47.

U.S. Bancorp Company Profile

(Get Rating)

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.

See Also

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

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