Investors Research Corp increased its stake in shares of U.S. Bancorp (NYSE:USB – Free Report) by 62.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,968 shares of the financial services provider’s stock after purchasing an additional 13,377 shares during the period. Investors Research Corp’s holdings in U.S. Bancorp were worth $1,261,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also recently made changes to their positions in USB. Citigroup Inc. increased its holdings in U.S. Bancorp by 2.6% during the fourth quarter. Citigroup Inc. now owns 859,332 shares of the financial services provider’s stock valued at $37,475,000 after buying an additional 21,560 shares during the last quarter. TAP Consulting LLC bought a new position in U.S. Bancorp in the first quarter worth approximately $259,000. Advisor Group Holdings Inc. raised its position in U.S. Bancorp by 11.7% in the fourth quarter. Advisor Group Holdings Inc. now owns 836,343 shares of the financial services provider’s stock worth $36,489,000 after acquiring an additional 87,888 shares during the period. MCF Advisors LLC raised its position in U.S. Bancorp by 80.8% in the first quarter. MCF Advisors LLC now owns 4,711 shares of the financial services provider’s stock worth $172,000 after acquiring an additional 2,105 shares during the period. Finally, Venture Visionary Partners LLC raised its position in U.S. Bancorp by 9.3% in the first quarter. Venture Visionary Partners LLC now owns 9,419 shares of the financial services provider’s stock worth $340,000 after acquiring an additional 800 shares during the period. 74.61% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, insider Timothy A. Welsh sold 13,816 shares of U.S. Bancorp stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $39.79, for a total transaction of $549,738.64. Following the completion of the sale, the insider now owns 119,058 shares in the company, valued at approximately $4,737,317.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Timothy A. Welsh sold 13,816 shares of U.S. Bancorp stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $39.79, for a total transaction of $549,738.64. Following the completion of the sale, the insider now owns 119,058 shares in the company, valued at approximately $4,737,317.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Terrance R. Dolan sold 26,000 shares of U.S. Bancorp stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $39.75, for a total transaction of $1,033,500.00. Following the sale, the chief financial officer now owns 166,992 shares of the company’s stock, valued at approximately $6,637,932. The disclosure for this sale can be found here. 0.24% of the stock is owned by corporate insiders.
U.S. Bancorp Price Performance
Shares of NYSE:USB traded down $0.62 on Friday, reaching $35.51. The company’s stock had a trading volume of 11,003,160 shares, compared to its average volume of 14,341,922. U.S. Bancorp has a 52-week low of $27.27 and a 52-week high of $49.95. The company has a market cap of $54.44 billion, a P/E ratio of 9.86, a PEG ratio of 1.66 and a beta of 0.97. The company has a 50-day simple moving average of $36.26 and a 200 day simple moving average of $36.63. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.80 and a current ratio of 0.80.
U.S. Bancorp (NYSE:USB – Get Free Report) last issued its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $1.12 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.01). U.S. Bancorp had a return on equity of 16.53% and a net margin of 16.59%. The business had revenue of $7.17 billion during the quarter, compared to analysts’ expectations of $7.17 billion. During the same period in the previous year, the business earned $1.09 earnings per share. The business’s quarterly revenue was up 19.7% on a year-over-year basis. As a group, equities research analysts anticipate that U.S. Bancorp will post 4.36 EPS for the current fiscal year.
U.S. Bancorp Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Friday, June 30th were paid a dividend of $0.48 per share. The ex-dividend date of this dividend was Thursday, June 29th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 5.41%. U.S. Bancorp’s dividend payout ratio is presently 53.19%.
Wall Street Analyst Weigh In
USB has been the topic of several recent research reports. Oppenheimer decreased their price target on shares of U.S. Bancorp from $70.00 to $67.00 and set an “outperform” rating on the stock in a research report on Friday, August 18th. Morgan Stanley restated an “equal weight” rating and set a $45.00 price objective on shares of U.S. Bancorp in a research report on Friday, August 4th. Wedbush raised their price objective on shares of U.S. Bancorp from $35.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, July 20th. DA Davidson raised their price objective on shares of U.S. Bancorp from $39.00 to $41.00 and gave the company a “neutral” rating in a research report on Monday, July 24th. Finally, TheStreet downgraded shares of U.S. Bancorp from a “b-” rating to a “c+” rating in a research report on Tuesday, May 2nd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $48.20.
Check Out Our Latest Report on USB
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 in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments.
Featured Stories
Want to see what other hedge funds are holding USB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for U.S. Bancorp (NYSE:USB – Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider U.S. Bancorp, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and U.S. Bancorp wasn’t on the list.
While U.S. Bancorp currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
MarketBeat has just released its list of 20 stocks that Wall Street analysts hate. These companies may appear to have good fundamentals, but top analysts smell something seriously rotten. Are any of these companies lurking around your portfolio? Find out by clicking the link below.
Source: marketbeat.com
