7,778 Shares in U.S. Bancorp (NYSE:USB) Purchased by Bestgate Wealth Advisors LLC

Bestgate Wealth Advisors LLC purchased a new position in shares of U.S. Bancorp (NYSE:USB) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 7,778 shares of the financial services provider’s stock, valued at approximately $372,000.

A number of other hedge funds have also bought and sold shares of USB. VSM Wealth Advisory LLC acquired a new stake in U.S. Bancorp during the fourth quarter worth about $125,000. OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in U.S. Bancorp during the fourth quarter worth about $282,000. Xponance Inc. grew its stake in U.S. Bancorp by 0.5% during the fourth quarter. Xponance Inc. now owns 219,141 shares of the financial services provider’s stock worth $10,482,000 after buying an additional 1,062 shares in the last quarter. Generali Asset Management SPA SGR acquired a new stake in U.S. Bancorp during the fourth quarter worth about $5,119,000. Finally, Horizon Investments LLC grew its stake in U.S. Bancorp by 2.1% during the fourth quarter. Horizon Investments LLC now owns 28,961 shares of the financial services provider’s stock worth $1,385,000 after buying an additional 604 shares in the last quarter. 77.60% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Terrance R. Dolan sold 66,317 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was 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 in the company, valued at approximately $9,837,274.72. The trade was a 24.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Andrew Cecere sold 102,044 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $47.25, for a total value of $4,821,579.00. Following the completion of the sale, the chief executive officer now owns 1,230,316 shares in the company, valued at $58,132,431. This represents a 7.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 219,812 shares of company stock valued at $10,385,665. 0.23% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. DA Davidson upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $58.00 to $60.00 in a research note on Thursday, January 2nd. Raymond James upgraded shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price target on the stock in a research note on Thursday, December 19th. Compass Point raised 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 note on Tuesday, December 10th. Oppenheimer lifted their price objective on shares of U.S. Bancorp from $62.00 to $63.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Finally, Citigroup upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $49.00 to $65.00 in a research note on Monday, November 25th. Ten analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $53.98.

U.S. Bancorp Price Performance

Shares of NYSE:USB opened at $42.23 on Wednesday. The company’s 50-day moving average is $46.63 and its 200 day moving average is $47.73. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81. The company has a market capitalization of $65.80 billion, a P/E ratio of 11.14, a price-to-earnings-growth ratio of 1.73 and a beta of 1.02. U.S. Bancorp has a fifty-two week low of $37.81 and a fifty-two week high of $53.98.

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

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.74%. The ex-dividend date is Monday, March 31st. U.S. Bancorp’s dividend payout ratio (DPR) is currently 52.77%.

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.