Payden & Rygel Acquires 86,900 Shares of U.S. Bancorp (USB)

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Payden & Rygel lifted its holdings in U.S. Bancorp (NYSE:USB) by 23.4% during the 1st quarter, HoldingsChannel.com reports. The firm owned 458,100 shares of the financial services provider’s stock after buying an additional 86,900 shares during the period. U.S. Bancorp makes up about 1.6% of Payden & Rygel’s investment portfolio, making the stock its 27th largest position. Payden & Rygel’s holdings in U.S. Bancorp were worth $22,076,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of USB. Trustcore Financial Services LLC bought a new stake in U.S. Bancorp during the 1st quarter worth approximately $28,000. Executive Wealth Management LLC bought a new stake in U.S. Bancorp during the 4th quarter worth approximately $27,000. WESPAC Advisors SoCal LLC bought a new stake in U.S. Bancorp during the 4th quarter worth approximately $27,000. Gantzert Investment Co. LLC ADV bought a new stake in U.S. Bancorp during the 4th quarter worth approximately $32,000. Finally, Catamount Wealth Management raised its stake in U.S. Bancorp by 525.0% during the 1st quarter. Catamount Wealth Management now owns 750 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 630 shares during the period. Hedge funds and other institutional investors own 74.92% of the company’s stock.

U.S. Bancorp stock opened at $51.33 on Friday. The company has a market cap of $81.72 billion, a PE ratio of 12.52, a P/E/G ratio of 1.73 and a beta of 1.10. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.87. U.S. Bancorp has a 1 year low of $43.14 and a 1 year high of $55.56.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.00. The firm had revenue of $5.58 billion for the quarter, compared to analysts’ expectations of $5.62 billion. U.S. Bancorp had a net margin of 27.02% and a return on equity of 15.53%. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.96 earnings per share. As a group, analysts anticipate that U.S. Bancorp will post 4.29 earnings per share for the current fiscal year.

A number of equities research analysts have commented on USB shares. Zacks Investment Research cut shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, April 15th. Oppenheimer raised their target price on shares of U.S. Bancorp from $58.00 to $62.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 26th. Finally, Robert W. Baird cut shares of U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $51.00 target price on the stock. in a research note on Monday, January 28th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $58.33.

In other U.S. Bancorp news, Vice Chairman Gillern Jeffry H. Von sold 4,669 shares of U.S. Bancorp stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $53.14, for a total transaction of $248,110.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman James B. Kelligrew sold 20,000 shares of U.S. Bancorp stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $50.61, for a total transaction of $1,012,200.00. Following the transaction, the insider now directly owns 49,495 shares of the company’s stock, valued at $2,504,941.95. The disclosure for this sale can be found here. Over the last three months, insiders sold 37,233 shares of company stock valued at $1,907,734. 0.24% of the stock is currently owned by insiders.

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U.S. Bancorp Profile

U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.

See Also: Producer Price Index (PPI)

Want to see what other hedge funds are holding USB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for U.S. Bancorp (NYSE:USB).

Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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