U.S. Bancorp (NYSE:USB) Shares Purchased by Advisory Services Network LLC

Advisory Services Network LLC increased its stake in shares of U.S. Bancorp (NYSE:USBGet Rating) by 8.6% in the 1st quarter, Holdings Channel reports. The firm owned 42,973 shares of the financial services provider’s stock after purchasing an additional 3,418 shares during the period. Advisory Services Network LLC’s holdings in U.S. Bancorp were worth $2,283,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. First Affirmative Financial Network boosted its holdings in shares of U.S. Bancorp by 2.3% during the fourth quarter. First Affirmative Financial Network now owns 7,567 shares of the financial services provider’s stock worth $425,000 after purchasing an additional 172 shares during the period. Lcnb Corp lifted its stake in U.S. Bancorp by 0.4% in the fourth quarter. Lcnb Corp now owns 42,431 shares of the financial services provider’s stock valued at $2,383,000 after acquiring an additional 188 shares during the last quarter. Westside Investment Management Inc. lifted its stake in U.S. Bancorp by 45.6% in the first quarter. Westside Investment Management Inc. now owns 648 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 203 shares during the last quarter. Cordasco Financial Network lifted its stake in U.S. Bancorp by 5.5% in the first quarter. Cordasco Financial Network now owns 3,930 shares of the financial services provider’s stock valued at $209,000 after acquiring an additional 206 shares during the last quarter. Finally, Indiana Trust & Investment Management CO lifted its stake in U.S. Bancorp by 3.1% in the first quarter. Indiana Trust & Investment Management CO now owns 7,036 shares of the financial services provider’s stock valued at $374,000 after acquiring an additional 211 shares during the last quarter. Institutional investors and hedge funds own 74.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on USB. Royal Bank of Canada reduced their target price on shares of U.S. Bancorp from $66.00 to $60.00 and set an “outperform” rating for the company in a research note on Friday, July 1st. Deutsche Bank Aktiengesellschaft reduced their target price on shares of U.S. Bancorp from $64.00 to $60.00 and set a “buy” rating for the company in a research note on Monday, September 12th. Jefferies Financial Group dropped their price target on shares of U.S. Bancorp from $52.00 to $45.00 in a research report on Monday, July 11th. Morgan Stanley lifted their price target on shares of U.S. Bancorp from $54.00 to $57.00 and gave the company an “equal weight” rating in a research report on Monday, July 18th. Finally, Wells Fargo & Company dropped their price target on shares of U.S. Bancorp from $70.00 to $60.00 and set an “overweight” rating on the stock in a research report on Friday, July 1st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, U.S. Bancorp currently has a consensus rating of “Hold” and an average price target of $58.56.

U.S. Bancorp Stock Performance

Shares of USB stock opened at $45.87 on Friday. U.S. Bancorp has a 1 year low of $43.74 and a 1 year high of $63.57. The firm’s fifty day simple moving average is $46.99 and its 200 day simple moving average is $49.67. The firm has a market capitalization of $68.15 billion, a P/E ratio of 10.54, a price-to-earnings-growth ratio of 1.59 and a beta of 0.97. The company has a current ratio of 0.75, a quick ratio of 0.74 and a debt-to-equity ratio of 0.70.

U.S. Bancorp (NYSE:USBGet Rating) last announced its quarterly earnings results on Friday, July 15th. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.02. The firm had revenue of $6.01 billion for the quarter, compared to analyst estimates of $5.89 billion. U.S. Bancorp had a net margin of 28.08% and a return on equity of 15.05%. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.28 EPS. As a group, sell-side analysts predict that U.S. Bancorp will post 4.45 EPS for the current year.

U.S. Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 4.19%. The ex-dividend date of this dividend is Thursday, September 29th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.46. U.S. Bancorp’s payout ratio is 42.30%.

U.S. Bancorp Company Profile

(Get Rating)

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.

Further Reading

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Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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