U.S. Bancorp (NYSE:USB) Shares Sold by New Wave Wealth Advisors LLC

New Wave Wealth Advisors LLC decreased its holdings in shares of U.S. Bancorp (NYSE:USB) by 16.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,094 shares of the financial services provider’s stock after selling 1,173 shares during the quarter. New Wave Wealth Advisors LLC’s holdings in U.S. Bancorp were worth $291,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in USB. Winch Advisory Services LLC lifted its holdings in shares of U.S. Bancorp by 1,088.9% during the 4th quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 490 shares in the last quarter. Frazier Financial Advisors LLC lifted its holdings in U.S. Bancorp by 222.7% in the 3rd quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after buying an additional 441 shares in the last quarter. Global Wealth Strategies & Associates lifted its holdings in U.S. Bancorp by 70.8% in the 4th quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock worth $29,000 after buying an additional 250 shares in the last quarter. Albion Financial Group UT lifted its holdings in U.S. Bancorp by 92.8% in the 4th quarter. Albion Financial Group UT now owns 696 shares of the financial services provider’s stock worth $33,000 after buying an additional 335 shares in the last quarter. Finally, Global Trust Asset Management LLC acquired a new position in U.S. Bancorp in the 4th quarter worth $33,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on USB shares. Morgan Stanley cut their price objective on shares of U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. DA Davidson upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $58.00 to $60.00 in a report on Thursday, January 2nd. Barclays boosted their price objective on shares of U.S. Bancorp from $57.00 to $61.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Evercore ISI boosted their price objective on shares of U.S. Bancorp from $51.00 to $54.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. Finally, Piper Sandler raised shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 target price for the company in a research report on Monday, January 13th. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, U.S. Bancorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.21.

U.S. Bancorp Stock Up 0.8 %

USB stock opened at $48.04 on Friday. U.S. Bancorp has a 52-week low of $37.81 and a 52-week high of $53.98. The company’s 50 day simple moving average is $49.80 and its 200-day simple moving average is $47.31. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.80. The firm has a market capitalization of $74.94 billion, a P/E ratio of 12.68, a P/E/G ratio of 1.77 and a beta of 1.05.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. The business had revenue of $7.01 billion for the quarter, compared to analyst estimates of $7 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The firm’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.99 earnings per share. As a group, equities research analysts anticipate that U.S. Bancorp will post 4.37 EPS for the current year.

U.S. Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date of this dividend was Tuesday, December 31st. U.S. Bancorp’s dividend payout ratio (DPR) is currently 52.77%.

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