Potentia Wealth Acquires New Position in U.S. Bancorp (NYSE:USB)

Potentia Wealth bought a new position in shares of U.S. Bancorp (NYSE:USB) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,563 shares of the financial services provider’s stock, valued at approximately $314,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Intech Investment Management LLC boosted its stake in U.S. Bancorp by 63.1% in the third quarter. Intech Investment Management LLC now owns 15,284 shares of the financial services provider’s stock valued at $699,000 after buying an additional 5,911 shares in the last quarter. Meridian Wealth Management LLC acquired a new stake in shares of U.S. Bancorp in the 3rd quarter valued at approximately $443,000. Cerity Partners LLC grew its holdings in shares of U.S. Bancorp by 17.0% during the 3rd quarter. Cerity Partners LLC now owns 697,059 shares of the financial services provider’s stock valued at $31,881,000 after purchasing an additional 101,264 shares during the last quarter. Kingsview Wealth Management LLC increased its position in U.S. Bancorp by 3.8% during the 3rd quarter. Kingsview Wealth Management LLC now owns 82,499 shares of the financial services provider’s stock worth $3,773,000 after purchasing an additional 3,013 shares in the last quarter. Finally, Swedbank AB lifted its stake in U.S. Bancorp by 5.1% in the 3rd quarter. Swedbank AB now owns 541,266 shares of the financial services provider’s stock valued at $24,752,000 after purchasing an additional 26,281 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. DA Davidson upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their price target for the stock from $58.00 to $60.00 in a report on Thursday, January 2nd. Piper Sandler raised U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 target price for the company in a report on Monday, January 13th. The Goldman Sachs Group cut their price target on U.S. Bancorp from $51.00 to $45.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 19th. Bank of America lowered their price objective on U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating for the company in a research note on Monday, March 17th. Finally, Compass Point increased their price target on U.S. Bancorp from $49.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Ten analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $53.48.

U.S. Bancorp Stock Performance

NYSE USB opened at $43.81 on Tuesday. The company has a market capitalization of $68.25 billion, a PE ratio of 11.56, a price-to-earnings-growth ratio of 1.73 and a beta of 1.02. 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 52-week low of $37.81 and a 52-week high of $53.98. The company has a 50-day simple moving average of $46.21 and a 200 day simple moving average of $47.63.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The company had revenue of $7.01 billion for the quarter, compared to analysts’ expectations of $7 billion. During the same quarter in the previous year, the firm posted $0.99 EPS. U.S. Bancorp’s revenue was up 3.7% on a year-over-year basis. On average, research analysts predict that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.50 per share. The ex-dividend date is Monday, March 31st. This represents a $2.00 annualized dividend and a dividend yield of 4.57%. U.S. Bancorp’s payout ratio is 52.77%.

Insiders Place Their Bets

In other U.S. Bancorp news, insider Jodi L. Richard sold 30,000 shares of the firm’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $47.59, for a total value of $1,427,700.00. Following the completion of the transaction, the insider now directly owns 99,790 shares of the company’s stock, valued at $4,749,006.10. This trade represents a 23.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Terrance R. Dolan sold 66,317 shares of U.S. Bancorp stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $46.96, for a total value of $3,114,246.32. Following the sale, the insider now directly owns 209,482 shares of the company’s stock, valued at $9,837,274.72. This represents a 24.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 219,812 shares of company stock worth $10,385,665 over the last quarter. 0.23% of the stock is currently owned by company 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 through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.