U.S. Bancorp (NYSE:USB) Shares Bought by Logan Capital Management Inc.

Logan Capital Management Inc. grew its position in shares of U.S. Bancorp (NYSE:USB) by 8.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 231,462 shares of the financial services provider’s stock after purchasing an additional 18,452 shares during the quarter. Logan Capital Management Inc.’s holdings in U.S. Bancorp were worth $8,344,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Core Alternative Capital increased its position in shares of U.S. Bancorp by 85.7% during the 1st quarter. Core Alternative Capital now owns 741 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 342 shares during the period. SRS Capital Advisors Inc. increased its position in shares of U.S. Bancorp by 46.9% during the 4th quarter. SRS Capital Advisors Inc. now owns 673 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 215 shares during the period. Thompson Investment Management Inc. acquired a new position in shares of U.S. Bancorp during the 1st quarter valued at $29,000. Iron Horse Wealth Management LLC acquired a new position in shares of U.S. Bancorp during the 1st quarter valued at $29,000. Finally, AXS Investments LLC acquired a new position in shares of U.S. Bancorp during the 4th quarter valued at $33,000. 75.40% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other U.S. Bancorp news, CFO Terrance R. Dolan sold 26,000 shares of the business’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $39.75, for a total value of $1,033,500.00. Following the completion of the sale, the chief financial officer now owns 166,992 shares of the company’s stock, valued at $6,637,932. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other U.S. Bancorp news, CFO Terrance R. Dolan sold 26,000 shares of the business’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $39.75, for a total value of $1,033,500.00. Following the completion of the sale, the chief financial officer now owns 166,992 shares of the company’s stock, valued at $6,637,932. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Timothy A. Welsh sold 13,816 shares of the business’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $39.79, for a total value of $549,738.64. Following the completion of the sale, the insider now directly owns 119,058 shares of the company’s stock, valued at approximately $4,737,317.82. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

U.S. Bancorp Price Performance

USB opened at $36.12 on Friday. The stock has a market cap of $55.36 billion, a price-to-earnings ratio of 10.00, a PEG ratio of 1.61 and a beta of 0.98. U.S. Bancorp has a 1 year low of $27.27 and a 1 year high of $49.95. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.97. The stock has a fifty day moving average price of $37.03 and a 200 day moving average price of $35.67.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.01). The firm had revenue of $7.17 billion for the quarter, compared to analyst estimates of $7.17 billion. U.S. Bancorp had a net margin of 16.59% and a return on equity of 16.53%. U.S. Bancorp’s revenue for the quarter was up 19.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.09 EPS. Analysts forecast that U.S. Bancorp will post 4.44 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Friday, June 30th were given a $0.48 dividend. The ex-dividend date was Thursday, June 29th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 5.32%. U.S. Bancorp’s dividend payout ratio is currently 53.19%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on USB shares. Oppenheimer decreased their target price on U.S. Bancorp from $70.00 to $67.00 and set an “outperform” rating on the stock in a report on Friday, August 18th. Morgan Stanley restated an “equal weight” rating and issued a $45.00 target price on shares of U.S. Bancorp in a report on Friday, August 4th. The Goldman Sachs Group lifted their target price on U.S. Bancorp from $34.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, July 20th. HSBC started coverage on U.S. Bancorp in a report on Thursday. They issued a “hold” rating and a $30.00 target price on the stock. Finally, Odeon Capital Group cut U.S. Bancorp from a “buy” rating to a “hold” rating in a report on Friday, June 23rd. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, U.S. Bancorp currently has an average rating of “Hold” and a consensus target price of $47.33.

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.