Edgemoor Investment Advisors Inc. Raises Position in U.S. Bancorp $USB

Edgemoor Investment Advisors Inc. raised its position in shares of U.S. Bancorp (NYSE:USB) by 726.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 67,832 shares of the financial services provider’s stock after acquiring an additional 59,621 shares during the period. Edgemoor Investment Advisors Inc.’s holdings in U.S. Bancorp were worth $3,278,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of U.S. Bancorp by 1.4% during the second quarter. Vanguard Group Inc. now owns 143,269,275 shares of the financial services provider’s stock valued at $6,482,935,000 after acquiring an additional 2,038,996 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of U.S. Bancorp by 1.3% during the second quarter. Geode Capital Management LLC now owns 36,632,410 shares of the financial services provider’s stock valued at $1,650,305,000 after purchasing an additional 456,890 shares during the last quarter. Norges Bank bought a new stake in shares of U.S. Bancorp in the second quarter worth $971,285,000. Davis Selected Advisers boosted its holdings in shares of U.S. Bancorp by 29.8% in the second quarter. Davis Selected Advisers now owns 19,331,637 shares of the financial services provider’s stock worth $874,757,000 after buying an additional 4,442,623 shares during the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC lifted its position in U.S. Bancorp by 3.7% during the second quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 16,569,422 shares of the financial services provider’s stock valued at $749,766,000 after purchasing an additional 585,968 shares in the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on USB shares. DA Davidson lifted their target price on U.S. Bancorp from $63.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, January 21st. UBS Group reiterated a “neutral” rating and issued a $60.00 target price on shares of U.S. Bancorp in a research note on Wednesday, February 4th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of U.S. Bancorp in a research report on Wednesday, January 21st. Bank of America upped their price objective on U.S. Bancorp from $54.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, October 17th. Finally, Morgan Stanley reiterated a “positive” rating on shares of U.S. Bancorp 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’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $59.79.

U.S. Bancorp Stock Performance

NYSE USB opened at $60.42 on Tuesday. The stock’s fifty day moving average is $54.79 and its two-hundred day moving average is $50.01. The firm has a market capitalization of $93.92 billion, a P/E ratio of 13.08, a price-to-earnings-growth ratio of 1.09 and a beta of 1.06. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two week high of $60.91.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Tuesday, January 20th. The financial services provider reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.07. U.S. Bancorp had a net margin of 17.66% and a return on equity of 13.48%. The business had revenue of $7.92 billion during the quarter, compared to analysts’ expectations of $7.31 billion. During the same period last year, the business earned $1.07 earnings per share. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, research analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Wednesday, December 31st. U.S. Bancorp’s payout ratio is presently 45.02%.

Insiders Place Their Bets

In other news, insider Mark G. Runkel sold 32,195 shares of the stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $60.65, for a total transaction of $1,952,626.75. Following the completion of the transaction, the insider directly owned 97,728 shares of the company’s stock, valued at approximately $5,927,203.20. This represents a 24.78% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.23% of the stock is currently owned by company insiders.

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.