U.S. Bancorp (NYSE:USB) Shares Acquired by Weitzel Financial Services Inc.

Weitzel Financial Services Inc. boosted its stake in U.S. Bancorp (NYSE:USB) by 3.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,016 shares of the financial services provider’s stock after purchasing an additional 1,928 shares during the period. U.S. Bancorp makes up about 1.0% of Weitzel Financial Services Inc.’s investment portfolio, making the stock its 19th biggest holding. Weitzel Financial Services Inc.’s holdings in U.S. Bancorp were worth $1,818,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in USB. TAP Consulting LLC purchased a new position in shares of U.S. Bancorp in the first quarter valued at $259,000. Advisor Group Holdings Inc. boosted its position in U.S. Bancorp by 11.7% in the 4th quarter. Advisor Group Holdings Inc. now owns 836,343 shares of the financial services provider’s stock valued at $36,489,000 after buying an additional 87,888 shares during the last quarter. MCF Advisors LLC grew its stake in shares of U.S. Bancorp by 80.8% during the first quarter. MCF Advisors LLC now owns 4,711 shares of the financial services provider’s stock valued at $172,000 after acquiring an additional 2,105 shares in the last quarter. Venture Visionary Partners LLC increased its position in shares of U.S. Bancorp by 9.3% during the first quarter. Venture Visionary Partners LLC now owns 9,419 shares of the financial services provider’s stock worth $340,000 after acquiring an additional 800 shares during the last quarter. Finally, Ascent Wealth Partners LLC lifted its stake in shares of U.S. Bancorp by 50.3% in the first quarter. Ascent Wealth Partners LLC now owns 28,603 shares of the financial services provider’s stock worth $995,000 after acquiring an additional 9,572 shares in the last quarter. 75.40% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on USB. Piper Sandler dropped their price objective on U.S. Bancorp from $41.00 to $40.00 in a report on Friday. Raymond James raised shares of U.S. Bancorp from an “underperform” rating to a “market perform” rating in a report on Thursday, July 20th. StockNews.com began coverage on shares of U.S. Bancorp in a report on Thursday, August 17th. They set a “sell” rating for the company. Barclays reduced their price target on shares of U.S. Bancorp from $52.00 to $48.00 in a research report on Tuesday, June 27th. Finally, Wedbush boosted their price objective on U.S. Bancorp from $35.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, July 20th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $46.71.

U.S. Bancorp Stock Performance

Shares of USB traded down $0.54 during mid-day trading on Friday, reaching $35.18. 5,844,220 shares of the company’s stock traded hands, compared to its average volume of 14,044,673. U.S. Bancorp has a 12 month low of $27.27 and a 12 month high of $49.95. The stock has a market capitalization of $53.93 billion, a P/E ratio of 9.89, a price-to-earnings-growth ratio of 1.58 and a beta of 0.98. The business’s 50-day moving average price is $37.18 and its 200-day moving average price is $35.34. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.80 and a current ratio of 0.80.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, July 19th. The financial services provider reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.01). The business had revenue of $7.17 billion for the quarter, compared to the consensus estimate of $7.17 billion. U.S. Bancorp had a net margin of 16.59% and a return on equity of 16.53%. The firm’s revenue was up 19.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.09 EPS. Equities analysts predict that U.S. Bancorp will post 4.44 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be paid a dividend of $0.48 per share. The ex-dividend date is Thursday, September 28th. This represents a $1.92 annualized dividend and a yield of 5.46%. U.S. Bancorp’s payout ratio is 53.19%.

Insiders Place Their Bets

In related news, insider Timothy A. Welsh sold 13,816 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $39.79, for a total transaction of $549,738.64. Following the sale, the insider now owns 119,058 shares of the company’s stock, valued at $4,737,317.82. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Terrance R. Dolan sold 26,000 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $39.75, for a total transaction of $1,033,500.00. Following the completion of the transaction, the chief financial officer now owns 166,992 shares of the company’s stock, valued at $6,637,932. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Timothy A. Welsh sold 13,816 shares of the business’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $39.79, for a total transaction of $549,738.64. Following the completion of the sale, the insider now owns 119,058 shares in the company, valued at $4,737,317.82. The disclosure for this sale can be found here. 0.24% of the stock is owned by insiders.

About U.S. Bancorp

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.