Brighton Jones LLC Has $1.78 Million Stake in U.S. Bancorp $USB

Brighton Jones LLC raised its stake in shares of U.S. Bancorp (NYSE:USB) by 8.7% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 39,436 shares of the financial services provider’s stock after purchasing an additional 3,163 shares during the period. Brighton Jones LLC’s holdings in U.S. Bancorp were worth $1,784,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Crestwood Advisors Group LLC boosted its stake in U.S. Bancorp by 10.6% during the 1st quarter. Crestwood Advisors Group LLC now owns 6,784 shares of the financial services provider’s stock valued at $286,000 after purchasing an additional 649 shares during the last quarter. Ally Financial Inc. boosted its stake in U.S. Bancorp by 12.3% during the 1st quarter. Ally Financial Inc. now owns 91,000 shares of the financial services provider’s stock valued at $3,842,000 after purchasing an additional 10,000 shares during the last quarter. United Community Bank boosted its stake in U.S. Bancorp by 21.8% during the 1st quarter. United Community Bank now owns 49,066 shares of the financial services provider’s stock valued at $2,072,000 after purchasing an additional 8,796 shares during the last quarter. Jump Financial LLC boosted its stake in U.S. Bancorp by 1,952.5% during the 1st quarter. Jump Financial LLC now owns 840,308 shares of the financial services provider’s stock valued at $35,478,000 after purchasing an additional 799,368 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in U.S. Bancorp by 7.2% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 233,157 shares of the financial services provider’s stock valued at $9,844,000 after purchasing an additional 15,743 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Trading Up 1.0%

NYSE:USB opened at $48.31 on Monday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.10. The stock has a market capitalization of $75.17 billion, a PE ratio of 11.05, a price-to-earnings-growth ratio of 1.29 and a beta of 1.06. The firm’s 50 day moving average is $48.10 and its 200 day moving average is $45.23. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $53.98.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.11. The company had revenue of $7.34 billion for the quarter, compared to analysts’ expectations of $7.17 billion. U.S. Bancorp had a net margin of 16.89% and a return on equity of 13.34%. U.S. Bancorp’s revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.03 EPS. Sell-side analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were issued a $0.52 dividend. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.3%. U.S. Bancorp’s payout ratio is presently 47.60%.

Insider Buying and Selling

In related news, EVP James L. Chosy sold 26,909 shares of U.S. Bancorp stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $46.86, for a total value of $1,260,955.74. Following the sale, the executive vice president owned 226,375 shares of the company’s stock, valued at approximately $10,607,932.50. The trade was a 10.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Andrew Cecere sold 140,445 shares of U.S. Bancorp stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $46.34, for a total transaction of $6,508,221.30. Following the completion of the sale, the chairman directly owned 1,360,414 shares in the company, valued at $63,041,584.76. This trade represents a 9.36% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on USB shares. Citigroup lifted their price target on U.S. Bancorp from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, October 17th. Weiss Ratings restated a “buy (b-)” rating on shares of U.S. Bancorp in a research note on Friday. Wells Fargo & Company boosted their target price on U.S. Bancorp from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Friday, October 17th. The Goldman Sachs Group set a $52.00 target price on U.S. Bancorp and gave the stock a “neutral” rating in a research note on Friday, October 17th. Finally, Raymond James Financial upgraded U.S. Bancorp from an “outperform” rating to a “strong-buy” rating and boosted their target price for the stock from $51.00 to $57.00 in a research note on Monday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, U.S. Bancorp presently has an average rating of “Moderate Buy” and an average target price of $54.55.

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 through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.