U.S. Bancorp $USB Shares Acquired by PFG Advisors

PFG Advisors raised its stake in U.S. Bancorp (NYSE:USB) by 23.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,243 shares of the financial services provider’s stock after buying an additional 1,546 shares during the period. PFG Advisors’ holdings in U.S. Bancorp were worth $373,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the stock. IMG Wealth Management Inc. acquired a new stake in U.S. Bancorp during the 2nd quarter worth about $25,000. Saudi Central Bank acquired a new stake in U.S. Bancorp during the 1st quarter worth about $26,000. Activest Wealth Management lifted its position in shares of U.S. Bancorp by 846.5% in the second quarter. Activest Wealth Management now owns 814 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 728 shares in the last quarter. Groupe la Francaise purchased a new position in U.S. Bancorp during the first quarter valued at approximately $41,000. Finally, Meeder Asset Management Inc. lifted its position in U.S. Bancorp by 118.4% in the 1st quarter. Meeder Asset Management Inc. now owns 987 shares of the financial services provider’s stock worth $42,000 after buying an additional 535 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at U.S. Bancorp

In related news, Chairman Andrew Cecere sold 140,445 shares of the business’s stock in a transaction dated 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 transaction, the chairman directly owned 1,360,414 shares in the company, valued at $63,041,584.76. The trade was a 9.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP James L. Chosy sold 26,909 shares of the firm’s stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $46.86, for a total value of $1,260,955.74. Following the completion of the sale, the executive vice president owned 226,375 shares of the company’s stock, valued at $10,607,932.50. This represents a 10.62% decrease in their position. The SEC filing for this sale provides additional information. 0.23% of the stock is owned by company insiders.

U.S. Bancorp Stock Performance

Shares of NYSE USB opened at $47.62 on Wednesday. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $53.98. The company has a market cap of $74.02 billion, a P/E ratio of 10.90, a P/E/G ratio of 1.25 and a beta of 1.10. The business’s 50 day moving average is $47.91 and its two-hundred day moving average is $45.99. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.10.

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

U.S. Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were paid a $0.52 dividend. The ex-dividend date was Tuesday, September 30th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a dividend yield of 4.4%. U.S. Bancorp’s dividend payout ratio is 47.60%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on USB shares. Bank of America increased their price objective on U.S. Bancorp from $54.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, October 17th. Morgan Stanley reaffirmed a “positive” rating on shares of U.S. Bancorp in a research note on Friday, October 17th. Wall Street Zen raised U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. Weiss Ratings restated a “buy (b-)” rating on shares of U.S. Bancorp in a report on Wednesday, October 8th. Finally, TD Cowen lifted their price target on shares of U.S. Bancorp from $59.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, October 20th. One equities research 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 given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.