QRG Capital Management Inc. bought a new position in shares of U.S. Bancorp (NYSE:USB – Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 17,124 shares of the financial services provider’s stock, valued at approximately $566,000.
Other large investors have also bought and sold shares of the company. Legacy Financial Group LLC bought a new stake in U.S. Bancorp during the 3rd quarter worth approximately $30,000. Archer Investment Corp grew its stake in shares of U.S. Bancorp by 63.2% during the 2nd quarter. Archer Investment Corp now owns 979 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 379 shares in the last quarter. First Command Advisory Services Inc. bought a new position in shares of U.S. Bancorp during the 3rd quarter worth approximately $35,000. Cornerstone Planning Group LLC bought a new position in shares of U.S. Bancorp during the 2nd quarter worth approximately $35,000. Finally, Pacific Center for Financial Services bought a new position in shares of U.S. Bancorp during the 1st quarter worth approximately $36,000. 75.40% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other news, insider Shailesh M. Kotwal sold 2,954 shares of the company’s stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $39.56, for a total value of $116,860.24. Following the completion of the transaction, the insider now owns 119,768 shares of the company’s stock, valued at $4,738,022.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Shailesh M. Kotwal sold 2,954 shares of the company’s stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $39.56, for a total value of $116,860.24. Following the completion of the transaction, the insider now owns 119,768 shares of the company’s stock, valued at $4,738,022.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Timothy A. Welsh sold 12,100 shares of the company’s stock in a transaction that occurred on Thursday, January 18th. The shares were sold at an average price of $40.33, for a total value of $487,993.00. Following the completion of the transaction, the insider now directly owns 106,958 shares of the company’s stock, valued at approximately $4,313,616.14. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 88,021 shares of company stock valued at $3,760,229. 0.24% of the stock is currently owned by corporate insiders.
U.S. Bancorp Stock Up 0.0 %
Shares of NYSE USB opened at $41.36 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.05. The company has a market cap of $64.44 billion, a price-to-earnings ratio of 12.61, a PEG ratio of 2.08 and a beta of 1.04. U.S. Bancorp has a 12 month low of $27.27 and a 12 month high of $48.24. The stock has a 50-day moving average price of $42.16 and a two-hundred day moving average price of $37.92.
U.S. Bancorp (NYSE:USB – Get Free Report) last issued its earnings results on Wednesday, January 17th. The financial services provider reported $0.99 EPS for the quarter, topping the consensus estimate of $0.71 by $0.28. The firm had revenue of $6.76 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.20 earnings per share. As a group, analysts forecast that U.S. Bancorp will post 3.93 earnings per share for the current fiscal year.
U.S. Bancorp Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th were paid a dividend of $0.49 per share. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.48. The ex-dividend date was Thursday, December 28th. This represents a $1.96 annualized dividend and a yield of 4.74%. U.S. Bancorp’s payout ratio is presently 59.76%.
Wall Street Analyst Weigh In
Several equities analysts recently weighed in on the stock. StockNews.com cut shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday. Wells Fargo & Company raised their target price on shares of U.S. Bancorp from $43.00 to $50.00 and gave the company an “overweight” rating in a research note on Thursday, December 14th. Oppenheimer raised their target price on shares of U.S. Bancorp from $59.00 to $61.00 and gave the company an “outperform” rating in a research note on Tuesday, January 30th. TheStreet raised U.S. Bancorp from a “c+” rating to a “b-” rating in a report on Tuesday, December 26th. Finally, Morgan Stanley raised their price target on U.S. Bancorp from $44.00 to $45.00 and gave the company an “equal weight” rating in a report on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $45.35.
Get Our Latest Stock Report on U.S. Bancorp
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 through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.
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Source: americanbankingnews.com
