Cornerstone Wealth Management LLC Has $1.99 Million Position in U.S. Bancorp (NYSE:USB)

Cornerstone Wealth Management LLC reduced its stake in U.S. Bancorp (NYSE:USB) by 1.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 41,660 shares of the financial services provider’s stock after selling 565 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in U.S. Bancorp were worth $1,993,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in USB. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of U.S. Bancorp during the second quarter worth approximately $86,000. AXA S.A. lifted its holdings in shares of U.S. Bancorp by 79.2% during the second quarter. AXA S.A. now owns 90,862 shares of the financial services provider’s stock worth $3,607,000 after buying an additional 40,147 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of U.S. Bancorp by 414.4% during the second quarter. AQR Capital Management LLC now owns 572,617 shares of the financial services provider’s stock worth $22,653,000 after buying an additional 461,291 shares during the last quarter. APG Asset Management N.V. lifted its holdings in shares of U.S. Bancorp by 203.2% during the second quarter. APG Asset Management N.V. now owns 182,496 shares of the financial services provider’s stock worth $6,760,000 after buying an additional 122,300 shares during the last quarter. Finally, MBB Public Markets I LLC acquired a new position in shares of U.S. Bancorp during the second quarter worth approximately $4,407,000. 77.60% of the stock is currently owned by institutional investors and hedge funds.

U.S. Bancorp Price Performance

Shares of USB stock opened at $49.00 on Friday. The stock’s fifty day moving average is $50.01 and its 200-day moving average is $47.04. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81. The stock has a market capitalization of $76.43 billion, a PE ratio of 12.93, a PEG ratio of 1.81 and a beta of 1.05. U.S. Bancorp has a 52 week low of $37.81 and a 52 week high of $53.98.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, topping the consensus estimate of $1.06 by $0.01. The company had revenue of $7.01 billion for the quarter, compared to analysts’ expectations of $7 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.99 earnings per share. Equities research analysts expect that U.S. Bancorp will post 4.37 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.08%. The ex-dividend date was Tuesday, December 31st. U.S. Bancorp’s dividend payout ratio (DPR) is presently 52.77%.

Analyst Ratings Changes

A number of research analysts have recently commented on USB shares. Royal Bank of Canada set a $53.00 price target on U.S. Bancorp in a report on Thursday, October 17th. Citigroup upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $49.00 to $65.00 in a research report on Monday, November 25th. Stephens boosted their price objective on U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Morgan Stanley lowered their price objective on 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. Finally, Barclays boosted their price objective on U.S. Bancorp from $57.00 to $61.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $54.21.

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.