New Wave Wealth Advisors LLC Sells 1,173 Shares of U.S. Bancorp (NYSE:USB)

New Wave Wealth Advisors LLC lowered its holdings in shares of U.S. Bancorp (NYSE:USB) by 16.1% during the fourth quarter, Holdings Channel reports. The firm owned 6,094 shares of the financial services provider’s stock after selling 1,173 shares during the period. New Wave Wealth Advisors LLC’s holdings in U.S. Bancorp were worth $291,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Winch Advisory Services LLC raised its holdings in U.S. Bancorp by 1,088.9% in the 4th quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 490 shares during the period. Frazier Financial Advisors LLC raised 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 acquiring an additional 441 shares during the period. Global Wealth Strategies & Associates raised 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 acquiring an additional 250 shares during the period. Albion Financial Group UT raised 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 acquiring an additional 335 shares during the period. Finally, Global Trust Asset Management LLC acquired a new stake in U.S. Bancorp in the 4th quarter worth $33,000. Institutional investors own 77.60% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on USB. Robert W. Baird set a $54.00 target price on shares of U.S. Bancorp in a research report on Thursday, October 17th. Royal Bank of Canada set a $53.00 target price on shares of U.S. Bancorp in a research report on Thursday, October 17th. Oppenheimer lifted their target price on shares of U.S. Bancorp from $62.00 to $63.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. Wells Fargo & Company boosted their price target on shares of U.S. Bancorp from $60.00 to $62.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Finally, Compass Point boosted their price target on shares of U.S. Bancorp from $49.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, U.S. Bancorp has an average rating of “Moderate Buy” and an average target price of $54.21.

U.S. Bancorp Stock Performance

Shares of USB opened at $48.04 on Friday. U.S. Bancorp has a 12 month low of $37.81 and a 12 month high of $53.98. The firm has a fifty day simple moving average of $49.80 and a 200 day simple moving average of $47.31. The stock has a market capitalization of $74.94 billion, a price-to-earnings ratio of 12.68, a PEG ratio of 1.77 and a beta of 1.05. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11.

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, topping the consensus estimate 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 business had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $7 billion. During the same quarter in the prior year, the company posted $0.99 earnings per share. The firm’s revenue was up 3.7% on a year-over-year basis. Research analysts forecast that U.S. Bancorp will post 4.37 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

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

U.S. Bancorp Company 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.