Brookstone Capital Management Sells 21,157 Shares of U.S. Bancorp $USB

Brookstone Capital Management decreased its holdings in U.S. Bancorp (NYSE:USB) by 8.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 231,815 shares of the financial services provider’s stock after selling 21,157 shares during the period. Brookstone Capital Management’s holdings in U.S. Bancorp were worth $12,057,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in U.S. Bancorp in the 4th quarter worth approximately $1,887,497,000. Auto Owners Insurance Co raised its holdings in U.S. Bancorp by 5,236.0% during the 4th quarter. Auto Owners Insurance Co now owns 33,350,000 shares of the financial services provider’s stock valued at $1,779,556,000 after acquiring an additional 32,725,000 shares during the period. Capital Research Global Investors bought a new stake in U.S. Bancorp during the 4th quarter valued at $296,377,000. SG Americas Securities LLC lifted its position in shares of U.S. Bancorp by 3,451.9% during the fourth quarter. SG Americas Securities LLC now owns 4,332,659 shares of the financial services provider’s stock worth $231,191,000 after acquiring an additional 4,210,676 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of U.S. Bancorp by 20.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 24,919,079 shares of the financial services provider’s stock worth $1,329,683,000 after acquiring an additional 4,153,080 shares in the last quarter. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Up 0.8%

USB opened at $58.62 on Tuesday. The firm has a market capitalization of $90.93 billion, a P/E ratio of 12.29, a price-to-earnings-growth ratio of 1.01 and a beta of 0.97. U.S. Bancorp has a one year low of $42.93 and a one year high of $61.19. The company has a fifty day moving average price of $55.73 and a 200-day moving average price of $54.96. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.81 and a quick ratio of 0.81.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Thursday, April 16th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.04. The company had revenue of $7.32 billion for the quarter, compared to the consensus estimate of $7.27 billion. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.The firm’s revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.03 earnings per share. Equities research analysts expect that U.S. Bancorp will post 5.08 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Tuesday, June 30th. U.S. Bancorp’s dividend payout ratio is currently 43.61%.

Insider Activity

In other U.S. Bancorp news, EVP Venkatachari Dilip sold 34,522 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total value of $1,916,661.44. Following the sale, the executive vice president owned 51,292 shares of the company’s stock, valued at $2,847,731.84. This trade represents a 40.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jodi L. Richard sold 40,000 shares of U.S. Bancorp stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total value of $2,280,000.00. Following the sale, the insider owned 207,251 shares of the company’s stock, valued at approximately $11,813,307. This trade represents a 16.18% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on USB shares. Piper Sandler reiterated a “buy” rating on shares of U.S. Bancorp in a research report on Thursday, February 26th. Wall Street Zen raised U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Saturday. Stephens started coverage on U.S. Bancorp in a research note on Monday, June 15th. They issued an “equal weight” rating and a $63.00 target price for the company. Oppenheimer lifted their target price on U.S. Bancorp from $73.00 to $74.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. Finally, Morgan Stanley set a $64.00 price target on U.S. Bancorp in a research report on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, U.S. Bancorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.29.

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.