Payden & Rygel Investment Group bought a new stake in U.S. Bancorp (NYSE:USB – Free Report) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 296,570 shares of the financial services provider’s stock, valued at approximately $9,805,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Nemes Rush Group LLC bought a new position in U.S. Bancorp in the second quarter worth approximately $25,000. Legacy Financial Group LLC purchased a new stake in shares of U.S. Bancorp in the third quarter worth $30,000. Archer Investment Corp grew its holdings in shares of U.S. Bancorp by 63.2% during the second quarter. Archer Investment Corp now owns 979 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 379 shares in the last quarter. Arlington Partners LLC increased its holdings in shares of U.S. Bancorp by 703.9% in the 2nd quarter. Arlington Partners LLC now owns 1,029 shares of the financial services provider’s stock worth $34,000 after buying an additional 901 shares during the last quarter. Finally, First Command Advisory Services Inc. bought a new stake in U.S. Bancorp during the third quarter worth about $35,000. Institutional investors own 75.40% of the company’s stock.
Analysts Set New Price Targets
A number of equities analysts have weighed in on USB shares. Jefferies Financial Group decreased their target price on shares of U.S. Bancorp from $36.00 to $31.00 in a research note on Tuesday, October 10th. TheStreet raised shares of U.S. Bancorp from a “c+” rating to a “b-” rating in a report on Tuesday, December 26th. StockNews.com upgraded U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday. Barclays upped their target price on shares of U.S. Bancorp from $48.00 to $56.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. Finally, Royal Bank of Canada upped their price objective on shares of U.S. Bancorp from $43.00 to $47.00 and gave the stock an “outperform” rating in a research note on Thursday, January 18th. Thirteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $45.35.
Check Out Our Latest Research Report on USB
U.S. Bancorp Trading Down 1.0 %
USB traded down $0.40 during trading on Monday, reaching $40.44. The company had a trading volume of 4,559,794 shares, compared to its average volume of 9,717,555. The firm’s 50-day simple moving average is $41.95 and its 200 day simple moving average is $37.72. The company has a market cap of $62.97 billion, a price-to-earnings ratio of 12.32, a PEG ratio of 2.07 and a beta of 1.04. U.S. Bancorp has a 12-month low of $27.27 and a 12-month high of $49.80. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.81 and a current ratio of 0.81.
U.S. Bancorp (NYSE:USB – Get Free Report) last posted its earnings results on Wednesday, January 17th. The financial services provider reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.28. The company had revenue of $6.76 billion for the quarter, compared to analyst estimates of $6.85 billion. U.S. Bancorp had a return on equity of 14.89% and a net margin of 13.36%. The business’s revenue was up 6.2% compared to the same quarter last year. During the same period last year, the company earned $1.20 earnings per share. Equities research analysts anticipate that U.S. Bancorp will post 3.94 earnings per share for the current year.
U.S. Bancorp Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, December 29th were given a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 4.85%. The ex-dividend date of this dividend was Thursday, December 28th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.48. U.S. Bancorp’s payout ratio is 59.76%.
Insider Buying and Selling
In related news, insider Shailesh M. Kotwal sold 2,046 shares of the stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $40.34, for a total value of $82,535.64. Following the sale, the insider now directly owns 112,722 shares in the company, valued at approximately $4,547,205.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Terrance R. Dolan sold 22,756 shares of U.S. Bancorp stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $45.04, for a total value of $1,024,930.24. Following the completion of the sale, the insider now directly owns 144,236 shares in the company, valued at $6,496,389.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Shailesh M. Kotwal sold 2,046 shares of the firm’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $40.34, for a total value of $82,535.64. Following the completion of the transaction, the insider now owns 112,722 shares in the company, valued at approximately $4,547,205.48. The disclosure for this sale can be found here. Insiders sold a total of 66,439 shares of company stock worth $2,865,224 over the last three months. 0.24% of the stock is currently owned by company insiders.
U.S. Bancorp Profile
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.
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