Steel Grove Capital Advisors LLC Purchases New Position in U.S. Bancorp $USB

Steel Grove Capital Advisors LLC purchased a new stake in U.S. Bancorp (NYSE:USB) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 30,890 shares of the financial services provider’s stock, valued at approximately $1,648,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Citigroup Inc. lifted its holdings in U.S. Bancorp by 2.4% during the third quarter. Citigroup Inc. now owns 1,749,812 shares of the financial services provider’s stock valued at $84,568,000 after purchasing an additional 41,803 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in U.S. Bancorp by 15.3% during the third quarter. Jones Financial Companies Lllp now owns 358,972 shares of the financial services provider’s stock valued at $17,738,000 after purchasing an additional 47,537 shares in the last quarter. Danske Bank A S purchased a new position in U.S. Bancorp during the third quarter valued at $37,162,000. Roman Butler Fullerton & Co. purchased a new position in U.S. Bancorp during the third quarter valued at $893,000. Finally, Nordea Investment Management AB lifted its holdings in U.S. Bancorp by 15.3% during the fourth quarter. Nordea Investment Management AB now owns 2,690,174 shares of the financial services provider’s stock valued at $144,462,000 after purchasing an additional 357,300 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Insider Buying and Selling at U.S. Bancorp

In related news, EVP Venkatachari Dilip sold 34,522 shares of the business’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total value of $1,916,661.44. Following the sale, the executive vice president directly owned 51,292 shares in the company, valued at approximately $2,847,731.84. The trade was a 40.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jodi L. Richard sold 40,000 shares of the business’s stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the completion of the sale, the insider owned 207,251 shares in the company, valued at approximately $11,813,307. This trade represents a 16.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on USB shares. Jefferies Financial Group reissued a “hold” rating and set a $60.00 target price on shares of U.S. Bancorp in a report on Thursday, April 16th. DA Davidson restated a “buy” rating and issued a $65.00 target price on shares of U.S. Bancorp in a research report on Friday, April 17th. Morgan Stanley set a $64.00 target price on U.S. Bancorp in a research report on Friday, April 17th. Oppenheimer raised their target price on U.S. Bancorp from $73.00 to $74.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. Finally, Weiss Ratings upgraded U.S. Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.20.

U.S. Bancorp Stock Performance

USB opened at $55.20 on Wednesday. The firm has a market capitalization of $85.69 billion, a PE ratio of 11.57, a PEG ratio of 0.99 and a beta of 1.00. U.S. Bancorp has a twelve month low of $42.55 and a twelve month high of $61.19. The firm’s 50-day moving average price is $54.22 and its 200 day moving average price is $53.81. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.03.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.04. The firm had revenue of $7.32 billion for the quarter, compared to analyst estimates of $7.27 billion. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. U.S. Bancorp’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.03 earnings per share. As a group, sell-side analysts expect that U.S. Bancorp will post 5.09 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 3.8%. The ex-dividend date was Tuesday, March 31st. U.S. Bancorp’s dividend payout ratio is presently 43.61%.

U.S. Bancorp Profile

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.