Meitav Investment House Ltd. Acquires New Position in U.S. Bancorp (NYSE:USB)

Meitav Investment House Ltd. bought a new position in shares of U.S. Bancorp (NYSE:USB) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 14,543 shares of the financial services provider’s stock, valued at approximately $476,000.

Several other institutional investors and hedge funds also recently made changes to their positions in USB. Nemes Rush Group LLC bought a new position in U.S. Bancorp during the second quarter worth about $25,000. Cedar Mountain Advisors LLC boosted its holdings in U.S. Bancorp by 82.0% during the second quarter. Cedar Mountain Advisors LLC now owns 899 shares of the financial services provider’s stock worth $30,000 after buying an additional 405 shares during the last quarter. Newbridge Financial Services Group Inc. boosted its holdings in U.S. Bancorp by 73.0% during the second quarter. Newbridge Financial Services Group Inc. now owns 962 shares of the financial services provider’s stock worth $32,000 after buying an additional 406 shares during the last quarter. Archer Investment Corp boosted its holdings in U.S. Bancorp by 63.2% during the second quarter. Archer Investment Corp now owns 979 shares of the financial services provider’s stock worth $32,000 after buying an additional 379 shares during the last quarter. Finally, Arlington Partners LLC boosted its holdings in U.S. Bancorp by 703.9% during the second quarter. Arlington Partners LLC now owns 1,029 shares of the financial services provider’s stock worth $34,000 after buying an additional 901 shares during the last quarter. Institutional investors own 75.40% of the company’s stock.

U.S. Bancorp Stock Up 0.9 %

USB stock opened at $37.64 on Friday. The business’s 50 day simple moving average is $33.50 and its 200 day simple moving average is $34.06. The firm has a market capitalization of $58.61 billion, a PE ratio of 11.20, a PEG ratio of 1.72 and a beta of 1.02. 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 0.92.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.09. The business had revenue of $7.03 billion during the quarter, compared to the consensus estimate of $7.02 billion. U.S. Bancorp had a return on equity of 15.80% and a net margin of 14.39%. The firm’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.18 EPS. As a group, research analysts anticipate that U.S. Bancorp will post 4.32 EPS for the current year.

U.S. Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Friday, September 29th were paid a $0.48 dividend. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $1.92 annualized dividend and a yield of 5.10%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 57.14%.

Insider Activity at U.S. Bancorp

In related news, insider James B. Kelligrew bought 500 shares of the business’s stock in a transaction dated Sunday, August 27th. The stock was purchased at an average cost of $54.40 per share, for a total transaction of $27,200.00. Following the transaction, the insider now owns 940 shares in the company, valued at approximately $51,136. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders bought 654 shares of company stock worth $30,148 in the last ninety days. 0.24% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on USB shares. Stephens reiterated an “overweight” rating and set a $47.00 price objective on shares of U.S. Bancorp in a report on Monday, July 24th. Morgan Stanley cut their price objective on U.S. Bancorp from $45.00 to $44.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 3rd. DA Davidson boosted their target price on U.S. Bancorp from $39.00 to $41.00 and gave the company a “neutral” rating in a research note on Monday, July 24th. HSBC assumed coverage on U.S. Bancorp in a research note on Thursday, September 7th. They issued a “hold” rating and a $30.00 target price on the stock. Finally, The Goldman Sachs Group cut their target price on U.S. Bancorp from $41.00 to $35.00 and set a “neutral” rating on the stock in a research note on Monday, October 2nd. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, U.S. Bancorp presently has a consensus rating of “Hold” and an average target price of $45.90.

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 in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments.