Avantax Planning Partners Inc. Buys 3,072 Shares of U.S. Bancorp (NYSE:USB)

Avantax Planning Partners Inc. increased its holdings in shares of U.S. Bancorp (NYSE:USB – Get Rating) by 4.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,861 shares of the financial services provider’s stock after buying an additional 3,072 shares during the quarter. Avantax Planning Partners Inc.’s holdings in U.S. Bancorp were worth $3,979,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in USB. Delos Wealth Advisors LLC purchased a new position in U.S. Bancorp during the 4th quarter worth $29,000. Advocacy Wealth Management Services LLC grew its stake in U.S. Bancorp by 72.3% during the 1st quarter. Advocacy Wealth Management Services LLC now owns 572 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 240 shares during the last quarter. Westside Investment Management Inc. grew its stake in U.S. Bancorp by 45.6% during the 1st quarter. Westside Investment Management Inc. now owns 648 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 203 shares during the last quarter. CarsonAllaria Wealth Management Ltd. purchased a new stake in U.S. Bancorp during the 4th quarter valued at about $36,000. Finally, Elmwood Wealth Management Inc. purchased a new stake in U.S. Bancorp during the 4th quarter valued at about $38,000. 74.92% of the stock is currently owned by hedge funds and other institutional investors.

U.S. Bancorp Price Performance

Shares of U.S. Bancorp stock traded up $0.32 during mid-day trading on Friday, reaching $47.39. 4,061,146 shares of the stock traded hands, compared to its average volume of 6,306,397. The business has a 50-day moving average of $47.66 and a 200 day moving average of $51.95. U.S. Bancorp has a fifty-two week low of $43.74 and a fifty-two week high of $63.57. The stock has a market capitalization of $70.41 billion, a PE ratio of 10.89, a PEG ratio of 1.62 and a beta of 0.97. The company has a quick ratio of 0.74, a current ratio of 0.75 and a debt-to-equity ratio of 0.70.

U.S. Bancorp (NYSE:USB – Get Rating) last announced its earnings results on Friday, July 15th. The financial services provider reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. U.S. Bancorp had a return on equity of 15.05% and a net margin of 28.08%. The business had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $5.89 billion. During the same quarter in the prior year, the firm earned $1.28 earnings per share. The business’s revenue was up 4.0% compared to the same quarter last year. On average, analysts predict that U.S. Bancorp will post 4.48 EPS for the current year.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Thursday, June 30th were given a $0.46 dividend. The ex-dividend date was Wednesday, June 29th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.88%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 42.30%.

Analysts Set New Price Targets

Several research firms have weighed in on USB. Wells Fargo & Company dropped their price target on U.S. Bancorp from $70.00 to $60.00 and set an “overweight” rating on the stock in a research note on Friday, July 1st. Piper Sandler set a $50.00 target price on U.S. Bancorp in a research note on Tuesday, July 19th. Jefferies Financial Group lowered their target price on U.S. Bancorp from $52.00 to $45.00 in a research note on Monday, July 11th. Morgan Stanley upped their target price 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. Finally, Royal Bank of Canada lowered their target price 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. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $58.47.

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.