U.S. Bancorp $USB Stake Boosted by Benjamin Edwards Inc.

Benjamin Edwards Inc. raised its holdings in shares of U.S. Bancorp (NYSE:USB) by 7.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 167,051 shares of the financial services provider’s stock after purchasing an additional 12,270 shares during the period. Benjamin Edwards Inc.’s holdings in U.S. Bancorp were worth $8,073,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. IMG Wealth Management Inc. acquired a new position in shares of U.S. Bancorp in the 2nd quarter valued at about $25,000. Barnes Dennig Private Wealth Management LLC bought a new position in U.S. Bancorp in the third quarter worth about $26,000. Hillsdale Investment Management Inc. bought a new position in U.S. Bancorp in the second quarter worth about $27,000. Pineridge Advisors LLC boosted its stake in U.S. Bancorp by 446.2% in the second quarter. Pineridge Advisors LLC now owns 639 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 522 shares during the period. Finally, True Wealth Design LLC grew its holdings in shares of U.S. Bancorp by 216.7% during the third quarter. True Wealth Design LLC now owns 738 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 505 shares during the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at U.S. Bancorp

In related news, EVP James L. Chosy sold 26,909 shares of the firm’s stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $46.86, for a total transaction of $1,260,955.74. Following the completion of the transaction, the executive vice president owned 226,375 shares of the company’s stock, valued at $10,607,932.50. This trade represents a 10.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Andrew Cecere sold 140,445 shares of U.S. Bancorp stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $46.34, for a total value of $6,508,221.30. Following the transaction, the chairman directly owned 1,360,414 shares in the company, valued at approximately $63,041,584.76. The trade was a 9.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.23% of the stock is currently owned by company insiders.

U.S. Bancorp Stock Performance

Shares of USB opened at $55.53 on Friday. The firm has a market capitalization of $86.31 billion, a PE ratio of 12.71, a P/E/G ratio of 0.96 and a beta of 1.07. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.10. The firm has a 50-day moving average price of $50.90 and a 200 day moving average price of $48.43. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $56.19.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $7.34 billion during the quarter, compared to analyst estimates of $7.17 billion. During the same period in the prior year, the business posted $1.03 EPS. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. On average, sell-side analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Wednesday, December 31st. U.S. Bancorp’s dividend payout ratio (DPR) is presently 47.60%.

Analysts Set New Price Targets

Several brokerages recently issued reports on USB. Keefe, Bruyette & Woods raised their price target on U.S. Bancorp from $53.00 to $58.00 and gave the stock a “market perform” rating in a report on Wednesday, December 17th. Oppenheimer cut their target price on U.S. Bancorp from $66.00 to $64.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 19th. Wolfe Research downgraded shares of U.S. Bancorp from an “outperform” rating to a “peer perform” rating in a report on Wednesday. TD Cowen increased their price objective on shares of U.S. Bancorp from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Citigroup boosted their target price on shares of U.S. Bancorp from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, U.S. Bancorp presently has an average rating of “Moderate Buy” and an average price target of $56.30.

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.