Fairway Wealth LLC Buys Shares of 1,400 U.S. Bancorp (NYSE:USB)

Fairway Wealth LLC acquired a new position in shares of U.S. Bancorp (NYSE:USB) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,400 shares of the financial services provider’s stock, valued at approximately $67,000.

A number of other institutional investors also recently modified their holdings of USB. CWA Asset Management Group LLC acquired a new position in U.S. Bancorp during the third quarter worth approximately $249,000. Atria Investments Inc raised its position in U.S. Bancorp by 14.4% during the third quarter. Atria Investments Inc now owns 284,832 shares of the financial services provider’s stock valued at $13,025,000 after purchasing an additional 35,946 shares in the last quarter. Covestor Ltd boosted its stake in U.S. Bancorp by 15.2% in the third quarter. Covestor Ltd now owns 1,741 shares of the financial services provider’s stock valued at $80,000 after buying an additional 230 shares in the last quarter. Sigma Planning Corp boosted its stake in shares of U.S. Bancorp by 10.5% in the 3rd quarter. Sigma Planning Corp now owns 8,355 shares of the financial services provider’s stock valued at $382,000 after purchasing an additional 792 shares in the last quarter. Finally, Mayflower Financial Advisors LLC bought a new stake in shares of U.S. Bancorp during the third quarter worth $223,000. 77.60% of the stock is currently owned by institutional investors.

Insider Transactions at U.S. Bancorp

In related news, insider Terrance R. Dolan sold 66,317 shares of U.S. Bancorp stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $46.96, for a total transaction of $3,114,246.32. Following the transaction, the insider now 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jodi L. Richard sold 30,000 shares of the firm’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $47.59, for a total transaction of $1,427,700.00. Following the sale, the insider now directly owns 99,790 shares of the company’s stock, valued at approximately $4,749,006.10. The trade was a 23.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 219,812 shares of company stock worth $10,385,665. Company insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Down 5.3 %

U.S. Bancorp stock opened at $42.35 on Tuesday. 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 $66.06 billion, a PE ratio of 11.17, 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. The firm has a 50 day moving average price of $47.42 and a 200 day moving average price of $47.91.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on USB shares. Wells Fargo & Company boosted their target price on shares of U.S. Bancorp from $60.00 to $62.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Morgan Stanley decreased their price target on shares of U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Raymond James upgraded shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price objective on the stock in a report on Thursday, December 19th. Citigroup upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their price target for the stock from $49.00 to $65.00 in a report on Monday, November 25th. Finally, Piper Sandler raised shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 target price on the stock in a research report on Monday, January 13th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, U.S. Bancorp has an average rating of “Moderate Buy” and an average price target of $54.21.

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.