Beese Fulmer Investment Management Inc. Takes $206,000 Position in U.S. Bancorp (NYSE:USB)

Beese Fulmer Investment Management Inc. purchased a new stake in shares of U.S. Bancorp (NYSE:USB) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 6,222 shares of the financial services provider’s stock, valued at approximately $206,000.

A number of other large investors have also recently modified their holdings of USB. BCK Partners Inc. bought a new stake in shares of U.S. Bancorp during the 1st quarter valued at about $2,514,000. Acadian Asset Management LLC boosted its position in shares of U.S. Bancorp by 3.0% during the 1st quarter. Acadian Asset Management LLC now owns 9,397 shares of the financial services provider’s stock valued at $499,000 after acquiring an additional 276 shares during the last quarter. Vontobel Holding Ltd. boosted its position in shares of U.S. Bancorp by 20.8% during the 1st quarter. Vontobel Holding Ltd. now owns 21,314 shares of the financial services provider’s stock valued at $1,176,000 after acquiring an additional 3,663 shares during the last quarter. Prudential PLC bought a new stake in shares of U.S. Bancorp during the 1st quarter valued at about $1,731,000. Finally, Candriam Luxembourg S.C.A. boosted its position in shares of U.S. Bancorp by 5.9% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 86,048 shares of the financial services provider’s stock valued at $4,573,000 after acquiring an additional 4,827 shares during the last quarter. Institutional investors own 75.40% of the company’s stock.

U.S. Bancorp Price Performance

USB opened at $35.15 on Monday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.80 and a current ratio of 0.80. U.S. Bancorp has a 52-week low of $27.27 and a 52-week high of $49.95. The stock has a market capitalization of $53.88 billion, a PE ratio of 9.74, a price-to-earnings-growth ratio of 1.58 and a beta of 0.98. The stock’s 50 day moving average price is $37.27 and its 200-day moving average price is $35.09.

U.S. Bancorp (NYSE:USB) last posted its earnings results 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 last year, the firm posted $1.09 earnings per share. U.S. Bancorp’s quarterly revenue was up 19.7% on a year-over-year basis. On average, equities research analysts predict that U.S. Bancorp will post 4.44 EPS for the current year.

U.S. Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be given a dividend of $0.48 per share. The ex-dividend date is Thursday, September 28th. This represents a $1.92 annualized dividend and a dividend yield of 5.46%. U.S. Bancorp’s dividend payout ratio is presently 53.19%.

Insider Activity at U.S. Bancorp

In related news, insider Timothy A. Welsh sold 13,816 shares of U.S. Bancorp stock in a transaction that occurred 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 sale, the insider now directly owns 119,058 shares in the company, valued at $4,737,317.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other U.S. Bancorp news, CFO Terrance R. Dolan sold 26,000 shares of the business’s stock in a transaction on 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 sale, the chief financial officer now directly owns 166,992 shares of the company’s stock, valued at $6,637,932. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Timothy A. Welsh sold 13,816 shares of the business’s stock in a transaction on 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 in the company, valued at $4,737,317.82. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Credit Suisse Group restated a “neutral” rating and issued a $44.00 target price on shares of U.S. Bancorp in a research report on Thursday, July 20th. Citigroup dropped their target price on U.S. Bancorp from $39.00 to $33.00 in a research report on Sunday, June 11th. StockNews.com assumed coverage on U.S. Bancorp in a research report on Thursday, August 17th. They issued a “sell” rating for the company. Barclays dropped their target price on U.S. Bancorp from $52.00 to $48.00 in a research report on Tuesday, June 27th. Finally, Odeon Capital Group downgraded U.S. Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, June 23rd. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, U.S. Bancorp presently has a consensus rating of “Hold” and a consensus target price of $46.71.

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.