Cassaday & Co Wealth Management LLC Acquires New Position in U.S. Bancorp (NYSE:USB)

Cassaday & Co Wealth Management LLC bought a new position in shares of U.S. Bancorp (NYSE:USB) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 21,150 shares of the financial services provider’s stock, valued at approximately $1,012,000.

Several other institutional investors have also modified their holdings of the business. Boston Financial Mangement LLC acquired a new stake in U.S. Bancorp in the 4th quarter valued at about $204,000. First Bank & Trust grew its stake in shares of U.S. Bancorp by 5.4% during the fourth quarter. First Bank & Trust now owns 81,297 shares of the financial services provider’s stock worth $3,888,000 after purchasing an additional 4,162 shares in the last quarter. RW Investment Management LLC lifted its holdings in U.S. Bancorp by 1.2% during the 4th quarter. RW Investment Management LLC now owns 49,932 shares of the financial services provider’s stock worth $2,388,000 after buying an additional 582 shares during the last quarter. Handelsbanken Fonder AB raised its position in shares of U.S. Bancorp by 10.3% during the 4th quarter. Handelsbanken Fonder AB now owns 438,943 shares of the financial services provider’s stock worth $20,995,000 after acquiring an additional 41,059 shares in the last quarter. Finally, Sunpointe LLC lifted its stake in U.S. Bancorp by 3.1% during the fourth quarter. Sunpointe LLC now owns 15,154 shares of the financial services provider’s stock worth $732,000 after purchasing an additional 459 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Stock Down 0.7 %

Shares of NYSE:USB opened at $46.79 on Friday. The stock has a market capitalization of $73.00 billion, a P/E ratio of 12.35, a PEG ratio of 1.75 and a beta of 1.04. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81. U.S. Bancorp has a 1 year low of $37.81 and a 1 year high of $53.98. The stock has a 50-day simple moving average of $48.29 and a 200-day simple moving average of $47.61.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, beating the consensus estimate of $1.06 by $0.01. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The business had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $7 billion. During the same period last year, the business posted $0.99 EPS. The company’s revenue was up 3.7% on a year-over-year basis. Equities analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $2.00 dividend on an annualized basis and a yield of 4.27%. U.S. Bancorp’s dividend payout ratio (DPR) is 52.77%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Morgan Stanley cut their price target on shares of U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Oppenheimer increased their price objective on U.S. Bancorp from $62.00 to $63.00 and gave the company an “outperform” rating in a report on Friday, January 17th. Evercore ISI lifted their price objective on shares of U.S. Bancorp from $51.00 to $54.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. DA Davidson upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their target price for the stock from $58.00 to $60.00 in a research note on Thursday, January 2nd. Finally, Citigroup raised U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their price objective for the company from $49.00 to $65.00 in a research note on Monday, November 25th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.21.

Insider Activity at U.S. Bancorp

In related news, EVP James L. Chosy sold 21,451 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $47.65, for a total transaction of $1,022,140.15. Following the sale, the executive vice president now owns 198,127 shares in the company, valued at $9,440,751.55. This represents a 9.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Andrew Cecere sold 102,044 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $47.25, for a total value of $4,821,579.00. Following the completion of the sale, the chief executive officer now directly owns 1,230,316 shares in the company, valued at approximately $58,132,431. This trade represents a 7.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 219,812 shares of company stock valued at $10,385,665 over the last three months. 0.23% of the stock is 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.