US Asset Management LLC Makes New Investment in U.S. Bancorp (NYSE:USB)

US Asset Management LLC purchased a new stake in shares of U.S. Bancorp (NYSE:USB) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 5,222 shares of the financial services provider’s stock, valued at approximately $226,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. raised its stake in U.S. Bancorp by 3.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 470,548 shares of the financial services provider’s stock worth $15,556,000 after buying an additional 15,897 shares in the last quarter. Chicago Partners Investment Group LLC boosted its position in U.S. Bancorp by 4.9% during the third quarter. Chicago Partners Investment Group LLC now owns 13,078 shares of the financial services provider’s stock valued at $409,000 after purchasing an additional 608 shares in the last quarter. Graypoint LLC grew its stake in U.S. Bancorp by 8.6% in the third quarter. Graypoint LLC now owns 13,442 shares of the financial services provider’s stock valued at $444,000 after purchasing an additional 1,061 shares during the last quarter. Conning Inc. raised its holdings in U.S. Bancorp by 5.1% in the third quarter. Conning Inc. now owns 10,161 shares of the financial services provider’s stock worth $336,000 after purchasing an additional 490 shares in the last quarter. Finally, Gratus Capital LLC lifted its position in shares of U.S. Bancorp by 34.0% during the third quarter. Gratus Capital LLC now owns 13,723 shares of the financial services provider’s stock valued at $454,000 after buying an additional 3,483 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors.

Insider Activity at U.S. Bancorp

In other news, EVP James L. Chosy sold 21,582 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $41.47, for a total value of $895,005.54. Following the completion of the sale, the executive vice president now directly owns 164,880 shares in the company, valued at $6,837,573.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.23% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

USB has been the subject of a number of analyst reports. JPMorgan Chase & Co. decreased their target price on shares of U.S. Bancorp from $45.00 to $43.50 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. StockNews.com cut U.S. Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, February 20th. HSBC raised U.S. Bancorp from a “hold” rating to a “buy” rating and upped their target price for the company from $47.00 to $53.00 in a research report on Thursday, March 28th. Barclays dropped their price target on U.S. Bancorp from $56.00 to $52.00 and set an “overweight” rating on the stock in a research note on Thursday, April 18th. Finally, Evercore ISI raised their price target on shares of U.S. Bancorp from $46.00 to $48.00 and gave the stock an “in-line” rating in a report on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $46.02.

U.S. Bancorp Price Performance

U.S. Bancorp stock traded down $0.15 during trading on Thursday, reaching $41.54. The company had a trading volume of 6,375,503 shares, compared to its average volume of 8,527,444. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.81 and a current ratio of 0.82. The firm’s 50-day simple moving average is $42.36 and its 200 day simple moving average is $40.64. The firm has a market capitalization of $64.82 billion, a PE ratio of 13.76, a price-to-earnings-growth ratio of 2.16 and a beta of 1.05. U.S. Bancorp has a 1-year low of $28.53 and a 1-year high of $45.85.

U.S. Bancorp (NYSE:USB) last released its earnings results on Wednesday, April 17th. The financial services provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. U.S. Bancorp had a net margin of 12.13% and a return on equity of 13.93%. The business had revenue of $6.72 billion during the quarter, compared to analysts’ expectations of $6.71 billion. During the same quarter in the previous year, the company earned $1.16 earnings per share. The company’s quarterly revenue was down 6.4% on a year-over-year basis. As a group, equities research analysts anticipate that U.S. Bancorp will post 3.84 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were given a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 4.72%. The ex-dividend date was Wednesday, March 27th. U.S. Bancorp’s payout ratio is 64.90%.

U.S. Bancorp Profile

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.