CWA Asset Management Group LLC Purchases 5,390 Shares of U.S. Bancorp (NYSE:USB)

CWA Asset Management Group LLC raised its position in shares of U.S. Bancorp (NYSE:USB) by 98.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,843 shares of the financial services provider’s stock after acquiring an additional 5,390 shares during the quarter. CWA Asset Management Group LLC’s holdings in U.S. Bancorp were worth $519,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Redwood Wealth Management Group LLC acquired a new stake in U.S. Bancorp during the second quarter worth approximately $25,000. Frazier Financial Advisors LLC grew its position in shares of U.S. Bancorp by 222.7% during 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 during the period. Global Wealth Strategies & Associates increased its stake in shares of 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 valued at $29,000 after acquiring an additional 250 shares in the last quarter. Y.D. More Investments Ltd acquired a new position in shares of U.S. Bancorp during the 2nd quarter valued at $33,000. Finally, Kimelman & Baird LLC bought a new position in U.S. Bancorp during the second quarter worth $40,000. 77.60% of the stock is currently owned by institutional investors and hedge funds.

U.S. Bancorp Stock Performance

Shares of USB opened at $48.50 on Thursday. The stock has a 50 day moving average of $50.20 and a 200 day moving average of $46.40. The company has a market capitalization of $75.66 billion, a price-to-earnings ratio of 14.83, a PEG ratio of 3.01 and a beta of 1.05. U.S. Bancorp has a 12 month low of $37.81 and a 12 month high of $53.98. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.04. The firm had revenue of $6.86 billion during the quarter, compared to analyst estimates of $6.90 billion. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The business’s revenue was down 2.4% compared to the same quarter last year. During the same period last year, the firm posted $1.05 EPS. As a group, sell-side analysts forecast that U.S. Bancorp will post 3.93 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date of this dividend is Tuesday, December 31st. U.S. Bancorp’s payout ratio is 61.16%.

U.S. Bancorp announced that its board has approved a stock buyback plan on Thursday, September 12th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

USB has been the subject of several research analyst reports. Barclays lifted their price target on shares of U.S. Bancorp from $57.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday. Evercore ISI upped their price target on U.S. Bancorp from $51.00 to $54.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 30th. Royal Bank of Canada set a $53.00 price objective on U.S. Bancorp in a research note on Thursday, October 17th. DA Davidson raised U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their target price for the stock from $58.00 to $60.00 in a research report on Thursday, January 2nd. Finally, Truist Financial started coverage on shares of U.S. Bancorp in a research note on Tuesday. They set a “hold” rating and a $54.00 price target for the company. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $54.07.

Insider Activity

In other news, insider Jodi L. Richard sold 25,000 shares of the company’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the transaction, the insider now owns 129,790 shares of the company’s stock, valued at $6,363,603.70. This represents a 16.15 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.23% of the company’s stock.

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.