GRIMES & Co WEALTH MANAGEMENT LLC Has $3.98 Million Stake in U.S. Bancorp $USB

GRIMES & Co WEALTH MANAGEMENT LLC raised its position in U.S. Bancorp (NYSE:USB) by 218.0% during the fourth quarter, Holdings Channel reports. The firm owned 74,634 shares of the financial services provider’s stock after purchasing an additional 51,164 shares during the period. GRIMES & Co WEALTH MANAGEMENT LLC’s holdings in U.S. Bancorp were worth $3,982,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of USB. Guerra Advisors Inc acquired a new position in shares of U.S. Bancorp in the 3rd quarter worth approximately $25,000. Financial Life Planners acquired a new position in shares of U.S. Bancorp in the 3rd quarter worth approximately $25,000. Clayton Financial Group LLC acquired a new position in shares of U.S. Bancorp in the 4th quarter worth approximately $25,000. JPL Wealth Management LLC acquired a new position in shares of U.S. Bancorp in the 3rd quarter worth approximately $28,000. Finally, Binnacle Investments Inc lifted its position in shares of U.S. Bancorp by 77.8% in the 3rd quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 273 shares during the period. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Stock Performance

USB opened at $55.52 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.03. The company’s fifty day moving average price is $54.05 and its two-hundred day moving average price is $53.16. U.S. Bancorp has a 1-year low of $41.81 and a 1-year high of $61.19. The company has a market cap of $86.18 billion, a price-to-earnings ratio of 11.64, a PEG ratio of 1.00 and a beta of 1.00.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.04. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. The firm had revenue of $7.32 billion during the quarter, compared to analyst estimates of $7.27 billion. During the same quarter in the prior year, the business posted $1.03 EPS. The business’s revenue was up 4.7% compared to the same quarter last year. On average, analysts expect that U.S. Bancorp will post 5.09 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were given a dividend of $0.52 per share. The ex-dividend date was Tuesday, March 31st. This represents a $2.08 annualized dividend and a yield of 3.7%. U.S. Bancorp’s dividend payout ratio is presently 43.61%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on USB. Argus boosted their price target on shares of U.S. Bancorp from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Piper Sandler reiterated a “buy” rating on shares of U.S. Bancorp in a research report on Thursday, February 26th. Keefe, Bruyette & Woods boosted their target price on shares of U.S. Bancorp from $58.00 to $59.00 and gave the company a “market perform” rating in a research report on Wednesday, January 21st. JPMorgan Chase & Co. dropped their target price on shares of U.S. Bancorp from $58.00 to $57.50 and set an “underweight” rating on the stock in a research report on Thursday, April 30th. Finally, Truist Financial dropped their target price on shares of U.S. Bancorp from $63.00 to $62.00 and set a “buy” rating on the stock in a research report on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $61.20.

Insider Activity

In other U.S. Bancorp news, insider Jodi L. Richard sold 40,000 shares of the stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the completion of the transaction, the insider owned 207,251 shares in the company, valued at $11,813,307. This trade represents a 16.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Venkatachari Dilip sold 34,522 shares of the stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the transaction, the executive vice president owned 51,292 shares of the company’s stock, valued at $2,847,731.84. This represents a 40.23% decrease in their position. The SEC filing for this sale provides additional information. 0.21% of the stock is currently owned by corporate insiders.

About U.S. Bancorp

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.