Shorepoint Capital Partners LLC Boosts Holdings in U.S. Bancorp (NYSE:USB)

Shorepoint Capital Partners LLC boosted its holdings in U.S. Bancorp (NYSE:USB) by 22.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 86,645 shares of the financial services provider’s stock after purchasing an additional 15,617 shares during the quarter. Shorepoint Capital Partners LLC’s holdings in U.S. Bancorp were worth $3,124,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. grew its stake in U.S. Bancorp by 3.9% during the first quarter. BlackRock Inc. now owns 104,397,877 shares of the financial services provider’s stock valued at $3,763,543,000 after acquiring an additional 3,909,037 shares in the last quarter. Moneta Group Investment Advisors LLC grew its position in shares of U.S. Bancorp by 130,768.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 60,273,882 shares of the financial services provider’s stock valued at $2,628,544,000 after purchasing an additional 60,227,825 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of U.S. Bancorp by 43.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 46,837,595 shares of the financial services provider’s stock worth $1,688,496,000 after purchasing an additional 14,080,781 shares during the last quarter. FMR LLC lifted its position in shares of U.S. Bancorp by 61.3% in the first quarter. FMR LLC now owns 39,195,702 shares of the financial services provider’s stock worth $1,413,005,000 after buying an additional 14,892,212 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in U.S. Bancorp by 11.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 28,770,916 shares of the financial services provider’s stock valued at $1,254,700,000 after buying an additional 2,900,619 shares during the last quarter. 75.40% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Analysts Set New Price Targets

Several analysts have recently issued reports on USB shares. The Goldman Sachs Group upped their price objective on U.S. Bancorp from $34.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, July 20th. Raymond James upgraded shares of U.S. Bancorp from an “underperform” rating to a “market perform” rating in a research report on Thursday, July 20th. Oppenheimer reduced their target price on shares of U.S. Bancorp from $70.00 to $67.00 and set an “outperform” rating on the stock in a report on Friday, August 18th. Stephens reiterated an “overweight” rating and issued a $47.00 price target on shares of U.S. Bancorp in a research report on Monday, July 24th. Finally, Bank of America upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their price objective for the company from $38.00 to $40.00 in a research report on Tuesday, July 11th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, U.S. Bancorp presently has a consensus rating of “Hold” and an average price target of $47.33.

U.S. Bancorp Stock Up 1.1 %

NYSE:USB traded up $0.39 during mid-day trading on Monday, reaching $36.50. The company’s stock had a trading volume of 1,863,567 shares, compared to its average volume of 14,038,328. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $55.95 billion, a PE ratio of 10.00, a price-to-earnings-growth ratio of 1.61 and a beta of 0.98. The stock has a fifty day moving average of $37.03 and a 200-day moving average of $35.50. U.S. Bancorp has a 1 year low of $27.27 and a 1 year high of $49.95.

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

U.S. Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Friday, June 30th were paid a $0.48 dividend. The ex-dividend date of this dividend was Thursday, June 29th. This represents a $1.92 annualized dividend and a yield of 5.26%. U.S. Bancorp’s dividend payout ratio (DPR) is 53.19%.

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.