Ritholtz Wealth Management Acquires 31,298 Shares of U.S. Bancorp (NYSE:USB)

Ritholtz Wealth Management grew its holdings in U.S. Bancorp (NYSE:USB) by 165.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 50,196 shares of the financial services provider’s stock after acquiring an additional 31,298 shares during the quarter. Ritholtz Wealth Management’s holdings in U.S. Bancorp were worth $1,993,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Financial Synergies Wealth Advisors Inc. bought a new stake in shares of U.S. Bancorp in the first quarter valued at approximately $30,000. 1620 Investment Advisors Inc. acquired a new position in shares of U.S. Bancorp in the second quarter valued at $30,000. Eagle Bay Advisors LLC raised its stake in shares of U.S. Bancorp by 93.2% in the first quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 331 shares in the last quarter. LRI Investments LLC acquired a new position in shares of U.S. Bancorp in the first quarter valued at $31,000. Finally, Crewe Advisors LLC acquired a new position in shares of U.S. Bancorp in the first quarter valued at $39,000. 77.60% of the stock is owned by institutional investors.

Insider Activity at U.S. Bancorp

In other news, Director Aleem Gillani bought 10,000 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The shares were acquired at an average price of $44.99 per share, with a total value of $449,900.00. Following the transaction, the director now owns 10,000 shares in the company, valued at $449,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.23% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

USB has been the subject of a number of recent research reports. The Goldman Sachs Group upped their target price on U.S. Bancorp from $42.00 to $47.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Royal Bank of Canada increased their price objective on U.S. Bancorp from $47.00 to $48.00 and gave the stock an “outperform” rating in a research note on Thursday, July 18th. StockNews.com upgraded U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. Jefferies Financial Group dropped their price objective on U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating for the company in a research note on Wednesday, July 3rd. Finally, Morgan Stanley increased their price objective on U.S. Bancorp from $47.00 to $54.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Thirteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $48.23.

U.S. Bancorp Trading Up 1.5 %

NYSE USB opened at $47.23 on Monday. The firm has a market cap of $73.70 billion, a P/E ratio of 15.64, a P/E/G ratio of 4.57 and a beta of 1.04. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.80. The stock’s 50-day moving average is $42.81 and its 200-day moving average is $41.92. U.S. Bancorp has a one year low of $30.47 and a one year high of $47.31.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.04. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The company had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.81 billion. During the same quarter last year, the firm posted $1.12 earnings per share. U.S. Bancorp’s revenue was down 4.3% compared to the same quarter last year. Sell-side analysts anticipate that U.S. Bancorp will post 3.89 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were given a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date of this dividend was Friday, June 28th. U.S. Bancorp’s dividend payout ratio is presently 64.90%.

U.S. Bancorp 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.