NTV Asset Management LLC Acquires New Shares in U.S. Bancorp (NYSE:USB)

NTV Asset Management LLC purchased a new stake in U.S. Bancorp (NYSE:USB) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 5,957 shares of the financial services provider’s stock, valued at approximately $258,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Avidian Wealth Solutions LLC grew its stake in shares of U.S. Bancorp by 26.1% in the fourth quarter. Avidian Wealth Solutions LLC now owns 10,105 shares of the financial services provider’s stock valued at $437,000 after buying an additional 2,089 shares in the last quarter. Alan B Lancz & Associates Inc. acquired a new stake in U.S. Bancorp in the fourth quarter valued at $206,000. AJOVista LLC bought a new position in shares of U.S. Bancorp in the 4th quarter valued at about $186,000. Axxcess Wealth Management LLC increased its stake in shares of U.S. Bancorp by 36.9% during the 4th quarter. Axxcess Wealth Management LLC now owns 20,563 shares of the financial services provider’s stock worth $890,000 after purchasing an additional 5,544 shares during the last quarter. Finally, Merit Financial Group LLC increased its stake in shares of U.S. Bancorp by 18.6% during the 4th quarter. Merit Financial Group LLC now owns 22,311 shares of the financial services provider’s stock worth $966,000 after purchasing an additional 3,504 shares during the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

USB has been the subject of a number of research analyst reports. Piper Sandler reiterated a “neutral” rating on shares of U.S. Bancorp in a report on Friday, January 26th. Evercore ISI raised their price target on U.S. Bancorp from $46.00 to $48.00 and gave the company an “in-line” rating in a report on Thursday, March 28th. Royal Bank of Canada increased their price objective on shares of U.S. Bancorp from $43.00 to $47.00 and gave the company an “outperform” rating in a research report on Thursday, January 18th. Wells Fargo & Company cut their target price on shares of U.S. Bancorp from $50.00 to $48.00 and set an “overweight” rating for the company in a research note on Thursday, April 18th. Finally, Morgan Stanley upped their price target on shares of U.S. Bancorp from $44.00 to $45.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 30th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat, U.S. Bancorp presently has an average rating of “Hold” and an average target price of $46.02.

Insider Transactions at U.S. Bancorp

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

U.S. Bancorp Price Performance

Shares of NYSE USB traded up $0.44 during mid-day trading on Friday, reaching $41.41. The company had a trading volume of 5,091,249 shares, compared to its average volume of 7,675,372. The firm has a market cap of $64.62 billion, a price-to-earnings ratio of 13.71, a PEG ratio of 2.16 and a beta of 1.05. The business’s 50-day simple moving average is $42.32 and its 200 day simple moving average is $40.50. U.S. Bancorp has a one year low of $27.27 and a one year high of $45.85. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.81 and a current ratio of 0.82.

U.S. Bancorp (NYSE:USB) last released its earnings results on Wednesday, April 17th. The financial services provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.89 by $0.01. U.S. Bancorp had a net margin of 12.13% and a return on equity of 13.93%. The firm had revenue of $6.72 billion for the quarter, compared to analyst estimates of $6.71 billion. During the same period last year, the firm earned $1.16 EPS. The business’s quarterly revenue was down 6.4% compared to the same quarter last year. On average, research analysts predict that U.S. Bancorp will post 3.84 earnings per share 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 $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 4.73%. The ex-dividend date was Wednesday, March 27th. U.S. Bancorp’s dividend payout ratio (DPR) 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.