First Bancorp Inc ME Purchases Shares of 10,166 U.S. Bancorp $USB

First Bancorp Inc ME purchased a new position in U.S. Bancorp (NYSE:USB) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 10,166 shares of the financial services provider’s stock, valued at approximately $614,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of USB. Financial Life Planners purchased a new position in U.S. Bancorp during the 1st quarter valued at about $27,000. Main Street Group LTD purchased a new stake in U.S. Bancorp in the 1st quarter worth approximately $28,000. JPL Wealth Management LLC bought a new stake in shares of U.S. Bancorp in the 3rd quarter worth approximately $28,000. Binnacle Investments Inc grew its position in shares of U.S. Bancorp by 77.8% in the 3rd quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider’s stock worth $30,000 after buying an additional 273 shares during the last quarter. Finally, NFSG Corp purchased a new position in shares of U.S. Bancorp during the first quarter valued at approximately $31,000. 77.60% of the stock is owned by institutional investors.

U.S. Bancorp Trading Up 0.1%

NYSE USB opened at $62.47 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.96. U.S. Bancorp has a twelve month low of $45.02 and a twelve month high of $66.07. The firm has a market capitalization of $97.33 billion, a PE ratio of 12.47, a P/E/G ratio of 1.02 and a beta of 0.96. The stock’s 50 day moving average is $62.56 and its 200 day moving average is $57.68.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Thursday, July 16th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.07. The business had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.58 billion. U.S. Bancorp had a return on equity of 13.69% and a net margin of 18.49%.During the same quarter in the prior year, the company earned $1.11 earnings per share. Research analysts forecast that U.S. Bancorp will post 5.22 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a $0.52 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.3%. U.S. Bancorp’s dividend payout ratio is currently 41.52%.

Insider Activity

In related news, insider Stephen L. Philipson sold 36,906 shares of U.S. Bancorp stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $63.08, for a total transaction of $2,328,030.48. Following the completion of the transaction, the insider directly owned 74,969 shares of the company’s stock, valued at $4,729,044.52. This trade represents a 32.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.21% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Stephens raised their price target on U.S. Bancorp from $63.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Friday, July 17th. DA Davidson boosted their price objective on shares of U.S. Bancorp from $72.00 to $74.00 and gave the company a “buy” rating in a research report on Friday, July 17th. Wells Fargo & Company upped their price objective on shares of U.S. Bancorp from $66.00 to $69.00 and gave the stock an “overweight” rating in a report on Friday, July 17th. UBS Group raised their target price on shares of U.S. Bancorp from $58.00 to $66.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 7th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $68.00 target price on shares of U.S. Bancorp in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $67.06.

About U.S. Bancorp

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.