SteelPeak Wealth LLC Raises Holdings in U.S. Bancorp (NYSE:USB)

SteelPeak Wealth LLC lifted its holdings in U.S. Bancorp (NYSE:USB) by 1,131.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 180,292 shares of the financial services provider’s stock after purchasing an additional 165,651 shares during the quarter. SteelPeak Wealth LLC’s holdings in U.S. Bancorp were worth $8,714,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of USB. FMR LLC raised its position in U.S. Bancorp by 32.7% in the 3rd quarter. FMR LLC now owns 63,913,931 shares of the financial services provider’s stock worth $2,922,784,000 after buying an additional 15,746,852 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of U.S. Bancorp by 153.0% during the third quarter. Franklin Resources Inc. now owns 7,949,347 shares of the financial services provider’s stock valued at $374,573,000 after purchasing an additional 4,807,662 shares during the last quarter. Los Angeles Capital Management LLC lifted its position in U.S. Bancorp by 723.7% during the third quarter. Los Angeles Capital Management LLC now owns 3,211,555 shares of the financial services provider’s stock valued at $146,864,000 after purchasing an additional 2,821,642 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in U.S. Bancorp by 109.7% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,531,400 shares of the financial services provider’s stock worth $161,491,000 after purchasing an additional 1,847,000 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in U.S. Bancorp by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 47,328,880 shares of the financial services provider’s stock worth $2,164,350,000 after purchasing an additional 1,796,336 shares during the period. 77.60% of the stock is owned by institutional investors.

U.S. Bancorp Trading Down 2.1 %

Shares of USB opened at $48.51 on Wednesday. U.S. Bancorp has a 1 year low of $37.81 and a 1 year high of $53.98. The company has a 50 day simple moving average of $49.97 and a two-hundred day simple moving average of $47.25. 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 firm has a market cap of $75.67 billion, a P/E ratio of 12.80, a price-to-earnings-growth ratio of 1.81 and a beta of 1.05.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) 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 the consensus estimate of $7 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. U.S. Bancorp’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.99 EPS. On average, equities analysts expect that U.S. Bancorp will post 4.37 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date was Tuesday, December 31st. U.S. Bancorp’s payout ratio is 52.77%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Oppenheimer raised their price target on U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. Truist Financial assumed coverage on U.S. Bancorp in a research note on Tuesday, January 7th. They set a “hold” rating and a $54.00 price target for the company. Compass Point increased their price objective on shares of U.S. Bancorp from $49.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft lowered shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 target price for the company. in a research report on Thursday, October 24th. Finally, Morgan Stanley decreased 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 issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $54.21.

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.