Axxcess Wealth Management LLC Buys 5,544 Shares of U.S. Bancorp (NYSE:USB)

Axxcess Wealth Management LLC lifted its position in U.S. Bancorp (NYSE:USB) by 36.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,563 shares of the financial services provider’s stock after buying an additional 5,544 shares during the quarter. Axxcess Wealth Management LLC’s holdings in U.S. Bancorp were worth $890,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in USB. Mufg Bank LTD. grew its stake in shares of U.S. Bancorp by 54.1% in the third quarter. Mufg Bank LTD. now owns 68,374,155 shares of the financial services provider’s stock valued at $2,260,450,000 after acquiring an additional 24,000,000 shares in the last quarter. Aristotle Capital Management LLC raised its stake in U.S. Bancorp by 266.6% in the third quarter. Aristotle Capital Management LLC now owns 23,467,699 shares of the financial services provider’s stock valued at $775,842,000 after purchasing an additional 17,066,479 shares in the last quarter. Vanguard Group Inc. grew its stake in U.S. Bancorp by 5.0% during the third quarter. Vanguard Group Inc. now owns 136,513,206 shares of the financial services provider’s stock worth $4,513,127,000 after buying an additional 6,479,642 shares in the last quarter. Barclays PLC increased its holdings in U.S. Bancorp by 120.4% in the 3rd quarter. Barclays PLC now owns 8,810,834 shares of the financial services provider’s stock valued at $291,285,000 after buying an additional 4,813,976 shares during the period. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new position in shares of U.S. Bancorp in the 3rd quarter valued at approximately $65,684,000. 77.60% of the stock is owned by institutional investors.

U.S. Bancorp Stock Performance

Shares of NYSE USB opened at $41.82 on Tuesday. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 1.07. U.S. Bancorp has a 1-year low of $28.53 and a 1-year high of $45.85. The stock’s 50-day moving average is $42.34 and its 200 day moving average is $40.56. The stock has a market cap of $65.26 billion, a price-to-earnings ratio of 13.85, a P/E/G ratio of 2.16 and a beta of 1.05.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. The company had revenue of $6.72 billion during the quarter, compared to analyst estimates of $6.71 billion. U.S. Bancorp had a net margin of 12.13% and a return on equity of 13.93%. U.S. Bancorp’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.16 earnings per share. On average, sell-side analysts anticipate that U.S. Bancorp will post 3.84 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 4.69%. The ex-dividend date was Wednesday, March 27th. U.S. Bancorp’s payout ratio is currently 64.90%.

Insider Activity

In other U.S. Bancorp news, EVP James L. Chosy sold 21,582 shares of U.S. Bancorp stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $41.47, for a total value of $895,005.54. Following the completion of the transaction, the executive vice president now directly owns 164,880 shares of the company’s stock, valued at $6,837,573.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on USB. Piper Sandler restated a “neutral” rating on shares of U.S. Bancorp in a research note on Friday, January 26th. DA Davidson dropped their price objective on shares of U.S. Bancorp from $45.00 to $44.00 and set a “neutral” rating for the company in a research note on Thursday, April 18th. Jefferies Financial Group upped their price objective on U.S. Bancorp from $44.00 to $46.00 and gave the company a “hold” rating in a research note on Monday, April 8th. JPMorgan Chase & Co. cut their target price on shares of U.S. Bancorp from $45.00 to $43.50 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $45.00 price target (down from $52.00) on shares of U.S. Bancorp in a research report on Thursday, April 18th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $46.02.

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.