Commonwealth Equity Services LLC Has $24.36 Million Stock Holdings in U.S. Bancorp (NYSE:USB)

Defense World · Oct 1, 2022 18:52

Commonwealth Equity Services LLC lifted its holdings in U.S. Bancorp (NYSE:USB – Get Rating) by 3.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 529,308 shares of the financial services provider's stock after purchasing an additional 15,346 shares during the quarter. Commonwealth Equity Services LLC's holdings in U.S. Bancorp were worth $24,358,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. GSA Capital Partners LLP acquired a new position in U.S. Bancorp during the 4th quarter worth approximately $245,000. Squarepoint Ops LLC boosted its position in U.S. Bancorp by 98.4% during the 4th quarter. Squarepoint Ops LLC now owns 52,203 shares of the financial services provider's stock worth $2,932,000 after acquiring an additional 25,886 shares during the last quarter. Lombard Odier Asset Management Switzerland SA acquired a new position in U.S. Bancorp during the 4th quarter worth approximately $224,000. Wetherby Asset Management Inc. boosted its position in U.S. Bancorp by 1.8% during the 4th quarter. Wetherby Asset Management Inc. now owns 27,905 shares of the financial services provider's stock worth $1,567,000 after acquiring an additional 487 shares during the last quarter. Finally, Golden State Wealth Management LLC acquired a new position in U.S. Bancorp during the 4th quarter worth approximately $366,000. 74.93% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Wells Fargo & Company reduced their price target on U.S. Bancorp from $70.00 to $60.00 and set an "overweight" rating for the company in a research report on Friday, July 1st. Credit Suisse Group dropped their price objective on U.S. Bancorp from $57.00 to $54.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 19th. Deutsche Bank Aktiengesellschaft dropped their price objective on U.S. Bancorp from $64.00 to $60.00 and set a "buy" rating on the stock in a research note on Monday, September 12th. Royal Bank of Canada dropped their price objective on U.S. Bancorp from $66.00 to $60.00 and set an "outperform" rating on the stock in a research note on Friday, July 1st. Finally, Morgan Stanley upped their price objective on U.S. Bancorp from $54.00 to $57.00 and gave the stock an "equal weight" rating in a research note on Monday, July 18th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $57.59.

U.S. Bancorp Stock Down 1.0 %

USB stock opened at $40.32 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.75 and a quick ratio of 0.74. The stock has a market capitalization of $59.91 billion, a price-to-earnings ratio of 9.27, a PEG ratio of 1.44 and a beta of 0.97. The business's fifty day moving average price is $46.18 and its two-hundred day moving average price is $48.86. U.S. Bancorp has a fifty-two week low of $40.27 and a fifty-two week high of $63.57.

U.S. Bancorp (NYSE:USB – Get Rating) last posted its quarterly earnings data on Friday, July 15th. The financial services provider reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.02. The firm had revenue of $6.01 billion for the quarter, compared to analysts' expectations of $5.89 billion. U.S. Bancorp had a return on equity of 15.05% and a net margin of 28.08%. The company's quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.28 EPS. On average, equities analysts anticipate that U.S. Bancorp will post 4.44 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be issued a dividend of $0.48 per share. This is a positive change from U.S. Bancorp's previous quarterly dividend of $0.46. This represents a $1.92 annualized dividend and a dividend yield of 4.76%. The ex-dividend date of this dividend is Thursday, September 29th. U.S. Bancorp's dividend payout ratio is 42.30%.

About U.S. Bancorp

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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 in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments.

Commonwealth Equity Services LLC Has $24.36 Million Stock Holdings in U.S. Bancorp (NYSE:USB)

Analysts Set New Price Targets

U.S. Bancorp Stock Down 1.0 %

U.S. Bancorp Increases Dividend

About U.S. Bancorp

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