Clearstead Advisors LLC Acquires 10,796 Shares of U.S. Bancorp $USB

Clearstead Advisors LLC increased its holdings in U.S. Bancorp (NYSE:USB) by 103.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,188 shares of the financial services provider’s stock after purchasing an additional 10,796 shares during the period. Clearstead Advisors LLC’s holdings in U.S. Bancorp were worth $1,131,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Legal & General Group Plc boosted its holdings in U.S. Bancorp by 2.2% in the fourth quarter. Legal & General Group Plc now owns 9,441,129 shares of the financial services provider’s stock worth $503,779,000 after purchasing an additional 202,725 shares in the last quarter. Morningstar Investment Management LLC boosted its holdings in U.S. Bancorp by 25.8% in the fourth quarter. Morningstar Investment Management LLC now owns 101,269 shares of the financial services provider’s stock worth $5,404,000 after purchasing an additional 20,746 shares in the last quarter. Genus Capital Management Inc. bought a new stake in U.S. Bancorp during the fourth quarter valued at about $9,804,000. First National Trust Co boosted its holdings in U.S. Bancorp by 25.9% during the fourth quarter. First National Trust Co now owns 195,036 shares of the financial services provider’s stock valued at $10,407,000 after acquiring an additional 40,063 shares during the period. Finally, Swedbank AB boosted its holdings in U.S. Bancorp by 3.2% during the fourth quarter. Swedbank AB now owns 736,306 shares of the financial services provider’s stock valued at $39,289,000 after acquiring an additional 22,585 shares during the period. 77.60% of the stock is currently owned by institutional investors.

Insider Activity at U.S. Bancorp

In other news, EVP Venkatachari Dilip sold 34,522 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the completion of the sale, the executive vice president owned 51,292 shares of the company’s stock, valued at approximately $2,847,731.84. This trade represents a 40.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jodi L. Richard sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the sale, the insider directly owned 207,251 shares of the company’s stock, valued at approximately $11,813,307. The trade was a 16.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.21% of the company’s stock.

U.S. Bancorp Stock Performance

NYSE:USB opened at $54.63 on Thursday. The firm has a market capitalization of $84.81 billion, a PE ratio of 11.45, a price-to-earnings-growth ratio of 1.00 and a beta of 1.00. The firm has a 50-day moving average price of $54.29 and a 200 day moving average price of $53.86. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.03. U.S. Bancorp has a 12-month low of $42.55 and a 12-month high of $61.19.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Thursday, April 16th. The financial services provider reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.04. The company had revenue of $7.32 billion during the quarter, compared to analyst estimates of $7.27 billion. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. The company’s revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the business posted $1.03 earnings per share. Research analysts anticipate that U.S. Bancorp will post 5.09 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $2.08 annualized dividend and a dividend yield of 3.8%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 43.61%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Truist Financial decreased their price target on shares of U.S. Bancorp from $63.00 to $62.00 and set a “buy” rating for the company in a report on Friday, April 17th. Oppenheimer upped their price objective on shares of U.S. Bancorp from $73.00 to $74.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. UBS Group reaffirmed a “neutral” rating and set a $60.00 price objective on shares of U.S. Bancorp in a research report on Wednesday, February 4th. Piper Sandler reaffirmed a “buy” rating on shares of U.S. Bancorp in a research report on Thursday, February 26th. Finally, Weiss Ratings raised shares of U.S. Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, U.S. Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $61.20.

U.S. Bancorp Company Profile

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.