Steele Capital Management Inc. Purchases New Position in U.S. Bancorp (NYSE:USB)

Steele Capital Management Inc. acquired a new stake in U.S. Bancorp (NYSE:USB) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 10,009 shares of the financial services provider’s stock, valued at approximately $433,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Mufg Bank LTD. boosted its stake in U.S. Bancorp by 54.1% during the third quarter. Mufg Bank LTD. now owns 68,374,155 shares of the financial services provider’s stock worth $2,260,450,000 after buying an additional 24,000,000 shares during the last quarter. Aristotle Capital Management LLC boosted its position in shares of U.S. Bancorp by 266.6% during the 3rd quarter. Aristotle Capital Management LLC now owns 23,467,699 shares of the financial services provider’s stock valued at $775,842,000 after acquiring an additional 17,066,479 shares during the last quarter. Vanguard Group Inc. increased its position in U.S. Bancorp by 5.0% during the third quarter. Vanguard Group Inc. now owns 136,513,206 shares of the financial services provider’s stock worth $4,513,127,000 after purchasing an additional 6,479,642 shares during the last quarter. Barclays PLC raised its stake in U.S. Bancorp by 120.4% during the third quarter. Barclays PLC now owns 8,810,834 shares of the financial services provider’s stock worth $291,285,000 after purchasing an additional 4,813,976 shares during the period. Finally, Ceredex Value Advisors LLC acquired a new position in U.S. Bancorp in the 3rd quarter valued at about $79,642,000. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

USB has been the subject of several analyst reports. StockNews.com lowered U.S. Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, February 20th. Barclays lowered their price target on U.S. Bancorp from $56.00 to $52.00 and set an “overweight” rating for the company in a report on Thursday, April 18th. Compass Point raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $46.00 to $49.00 in a research report on Friday, March 22nd. UBS Group reduced their target price on shares of U.S. Bancorp from $47.00 to $43.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $45.00 price target (down previously from $52.00) on shares of U.S. Bancorp in a report on Thursday, April 18th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $46.14.

Insider Buying and Selling

In related news, EVP James L. Chosy sold 21,582 shares of U.S. Bancorp stock in a transaction on Friday, February 16th. The shares were sold at an average price of $41.47, for a total transaction of $895,005.54. Following the sale, the executive vice president now owns 164,880 shares of the company’s stock, valued at approximately $6,837,573.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.23% of the stock is currently owned by corporate insiders.

U.S. Bancorp Trading Down 0.6 %

Shares of U.S. Bancorp stock traded down $0.24 during mid-day trading on Tuesday, hitting $41.05. 1,363,657 shares of the stock were exchanged, compared to its average volume of 8,568,011. The stock has a market capitalization of $63.96 billion, a price-to-earnings ratio of 13.68, a price-to-earnings-growth ratio of 2.13 and a beta of 1.05. U.S. Bancorp has a twelve month low of $27.27 and a twelve month high of $45.85. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 1.07. The company has a 50-day simple moving average of $42.34 and a 200 day simple moving average of $40.28.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share (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 firm had revenue of $6.72 billion for the quarter, compared to analyst estimates of $6.71 billion. During the same quarter last year, the business earned $1.16 earnings per share. U.S. Bancorp’s revenue was down 6.4% compared to the same quarter last year. Research analysts forecast that U.S. Bancorp will post 3.86 EPS for the current year.

U.S. Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were given a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 4.77%. The ex-dividend date was Wednesday, March 27th. U.S. Bancorp’s payout ratio is 64.90%.

About U.S. Bancorp

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.