The financial world has been buzzing with news of a recent acquisition made by Ellsworth Advisors LLC, who have now become shareholders in U.S. Bancorp (NYSE:USB). According to the company’s most recent 13F filing with the Securities and Exchange Commission, Ellsworth Advisors LLC acquired a not insignificant position of 84,598 shares in the financial services provider’s stock at an estimated value of $3,050,000 during the first quarter.
However, this is not the only noteworthy event surrounding U.S. Bancorp (NYSE:USB) in recent times as a number of insiders have also reportedly made considerable purchases of company stock over the last three months. Director Alan B. Colberg alone is said to have purchased 10,000 shares at $34.14 per share totalling $341,400 during one transaction on April 21st that was made public through an SEC filing.
Analysts are weighing up what these moves mean for investors and others involved with U.S. Bancorp (NYSE:USB). Many have pointed to recent quarterly earnings results on April 19th which showed Q1 EPS missed analysts’ consensus estimates ($1.04 compared to $1.13 by -$0.09), despite revenue coming in slightly higher than expected ($7.18 billion versus a projected $7.14 billion). Net margin was reported as 19.21% while return on equity stood at 16.70%.
With such figures offering potentially valuable insight into U.S. Bancorp’s current performance it is no surprise investors and insiders alike are seeking ways to stay ahead of what could be interesting times ahead for the financial services provider.
For those outside looking in on these developments it will be fascinating to see how they shape what is turning out to be a dramatic year for both Ellsworth Advisors LLC and U.S Bancorp (NYSE:USB). Investors will no doubt take note of future filings from both parties to ascertain where the stocks stand and what potential financial benefits may be waiting in the wings for those who back these companies.
U.S. Bancorp’s Stock Holdings See Activity and Positive Signals for Investors
The financial services provider, U.S. Bancorp has seen a recent flurry of activity in its stock holdings. Institutional investors and hedge funds, in particular, have been making modifications to their positions. For instance, Acadian Asset Management LLC recently lifted its position by 3%, whilst BCK Partners Inc. bought a new position worth approximately $2,514,000 during the 1st quarter. Similarly, Prudential PLC also purchased a new position worth approximately $1,731,000 in the financial services provider meanwhile Candriam Luxembourg S.C.A lifted their position by 5.9%. Interestingly Vontobel Holding Ltd saw an increase in shares by as much as 20.8%, representing growth for the company’s stock and potential prospects.
Despite these positive signals for USB Stocks however , shares of U.S. Bancorp opened at $33.43 on Thursday.. Financial statistics indicate that the firm boasts a market cap of $51.25 billion with price-to-earnings ratio (P/E Ratio) of 8.89%. The stock’s beta is recorded at 0.93 whilst a price-to-earnings-growth ratio (PEG) equals around 1.12 indicating healthy growth prospects . In terms of statistics reflecting positive trends over a longer period: Whilst it’s one-year low hovered around -27%, conversely USB has seen significant uplifts over the same timescale; boasting an impressive one-year high of nearly $50.
In addition to these figures however there are also other indicators which suggest that this transactional buoyancy represents good news for the all-important share hodlers; prominent among them being two director-level purchases made recently: Insider James B Kelligrew acquired shares totalling well over half-a-million dollars earlier this year (16k shares to be precise), bought at an average price of $30.59 per share whilst fellow Director-made similar purchases totaling upto $341,400. Insiders have bought a cumulative total of over 76k shares in just three short months, with the value representing an hefty $2 million worth of equity.
All these indicators can only lead potential investors to one conclusion; that not only is USB’s stock currently prime for acquisition from individuals looking to invest further into equities; longer term trends suggest healthy prospects for comprehensive growth in financial terms, best reflected by U.S Bancorp’s announcement about declaring a quarterly dividend payable on Monday, July 17th. Investors are earnestly seeking out USB stocks to add them to their portfolios buoyed by high revenues growth predictions and definitive shareholder indicators underlining the corporation’s internal health alongside external factors strongly indicating continued stability and strong future returns.
Source: beststocks.com
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