Bestgate Wealth Advisors LLC Invests $372,000 in U.S. Bancorp (NYSE:USB)

Bestgate Wealth Advisors LLC purchased a new position in shares of U.S. Bancorp (NYSE:USB) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 7,778 shares of the financial services provider’s stock, valued at approximately $372,000.

Several other institutional investors also recently modified their holdings of USB. Winch Advisory Services LLC increased its stake in U.S. Bancorp by 1,088.9% in the fourth quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 490 shares in the last quarter. J.Safra Asset Management Corp bought a new stake in U.S. Bancorp in the fourth quarter valued at approximately $26,000. FPC Investment Advisory Inc. bought a new stake in U.S. Bancorp in the fourth quarter valued at approximately $28,000. Global Wealth Strategies & Associates increased its stake in U.S. Bancorp by 70.8% in the fourth quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 250 shares in the last quarter. Finally, Stonebridge Financial Group LLC bought a new stake in U.S. Bancorp in the fourth quarter valued at approximately $30,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insider Activity

In other news, CEO Andrew Cecere sold 102,044 shares of the 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 transaction, the chief executive officer now directly owns 1,230,316 shares of the company’s stock, valued at $58,132,431. This represents a 7.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP James L. Chosy sold 21,451 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $47.65, for a total transaction of $1,022,140.15. Following the completion of the transaction, the executive vice president now directly owns 198,127 shares in the company, valued at $9,440,751.55. The trade was a 9.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 219,812 shares of company stock valued at $10,385,665 over the last ninety days. 0.23% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

USB has been the subject of several recent analyst reports. Raymond James raised shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 target price for the company in a research note on Thursday, December 19th. Truist Financial began coverage on shares of U.S. Bancorp in a report on Tuesday, January 7th. They issued a “hold” rating and a $54.00 price target for the company. DA Davidson upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their price target for the company from $58.00 to $60.00 in a report on Thursday, January 2nd. Barclays upped their price target on shares of U.S. Bancorp from $57.00 to $61.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Finally, Bank of America reduced their price target on shares of U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating for the company in a report on Monday. Ten equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $53.98.

U.S. Bancorp Stock Performance

Shares of USB stock opened at $42.23 on Wednesday. The stock has a market cap of $65.80 billion, a P/E ratio of 11.14, a P/E/G ratio of 1.73 and a beta of 1.02. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.80. The company has a fifty day moving average price of $46.63 and a two-hundred day moving average price of $47.73. U.S. Bancorp has a one year low of $37.81 and a one year high of $53.98.

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

U.S. Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.74%. The ex-dividend date of this dividend is Monday, March 31st. U.S. Bancorp’s payout ratio is presently 52.77%.

U.S. Bancorp Company 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.