Fairway Wealth LLC Takes Position in 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 the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,400 shares of the financial services provider’s stock, valued at approximately $67,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Brooklyn Investment Group boosted its holdings in U.S. Bancorp by 4.4% in the third quarter. Brooklyn Investment Group now owns 4,792 shares of the financial services provider’s stock valued at $219,000 after purchasing an additional 201 shares in the last quarter. Capital Performance Advisors LLP lifted its holdings in U.S. Bancorp by 2.6% in the 4th quarter. Capital Performance Advisors LLP now owns 8,188 shares of the financial services provider’s stock valued at $392,000 after purchasing an additional 210 shares in the last quarter. HCR Wealth Advisors lifted its position in U.S. Bancorp by 1.1% during the fourth quarter. HCR Wealth Advisors now owns 20,107 shares of the financial services provider’s stock worth $962,000 after buying an additional 211 shares during the period. Priebe Wealth Holdings LLC raised its position in shares of U.S. Bancorp by 4.4% in the 4th quarter. Priebe Wealth Holdings LLC now owns 5,078 shares of the financial services provider’s stock worth $243,000 after buying an additional 215 shares during the period. Finally, Essex Savings Bank lifted its position in U.S. Bancorp by 1.8% during the fourth quarter. Essex Savings Bank now owns 12,350 shares of the financial services provider’s stock valued at $591,000 after buying an additional 216 shares in the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insiders Place Their Bets

In other news, EVP James L. Chosy sold 21,451 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $47.65, for a total value of $1,022,140.15. Following the sale, the executive vice president now directly owns 198,127 shares of the company’s stock, valued at approximately $9,440,751.55. This trade represents a 9.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Terrance R. Dolan sold 66,317 shares of the business’s 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 completion of the sale, the insider now directly owns 209,482 shares in the company, valued at $9,837,274.72. This trade represents a 24.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 219,812 shares of company stock valued at $10,385,665 over the last 90 days. 0.23% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Raymond James upgraded U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price target 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 set a “hold” rating and a $54.00 target price for the company. DA Davidson raised U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their target price for the stock from $58.00 to $60.00 in a research report on Thursday, January 2nd. Piper Sandler raised U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price target for the company in a research note on Monday, January 13th. Finally, Morgan Stanley dropped their price target on shares of U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. 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 presently has a consensus rating of “Moderate Buy” and an average price target of $54.21.

U.S. Bancorp Stock Down 5.3 %

Shares of U.S. Bancorp stock opened at $42.35 on Tuesday. U.S. Bancorp has a 52-week low of $37.81 and a 52-week high of $53.98. The company has a market capitalization of $66.06 billion, a P/E ratio of 11.17, a P/E/G ratio of 1.73 and a beta of 1.02. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. The company has a 50 day moving average of $47.42 and a 200 day moving average of $47.91.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data 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. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The firm had revenue of $7.01 billion for the quarter, compared to analyst estimates of $7 billion. During the same period last year, the firm posted $0.99 EPS. U.S. Bancorp’s quarterly revenue was up 3.7% on a year-over-year basis. As a group, research analysts forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

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.