Quarry LP Invests $64,000 in U.S. Bancorp (NYSE:USB)

Quarry LP bought a new stake in shares of U.S. Bancorp (NYSE:USB) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,342 shares of the financial services provider’s stock, valued at approximately $64,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in U.S. Bancorp in the fourth quarter worth $777,524,000. Invesco Ltd. lifted its holdings in U.S. Bancorp by 48.1% during the 4th quarter. Invesco Ltd. now owns 16,787,513 shares of the financial services provider’s stock valued at $802,947,000 after buying an additional 5,449,949 shares in the last quarter. Franklin Resources Inc. boosted its position in U.S. Bancorp by 153.0% in the 3rd quarter. Franklin Resources Inc. now owns 7,949,347 shares of the financial services provider’s stock valued at $374,573,000 after buying an additional 4,807,662 shares during the period. Marshall Wace LLP grew its stake in U.S. Bancorp by 414.1% in the 4th quarter. Marshall Wace LLP now owns 5,789,565 shares of the financial services provider’s stock worth $276,915,000 after acquiring an additional 4,663,518 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in U.S. Bancorp in the 4th quarter worth about $184,733,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on USB shares. Oppenheimer increased their price objective on U.S. Bancorp from $57.00 to $59.00 and gave the stock an “outperform” rating in a research note on Monday. Raymond James restated an “outperform” rating and set a $51.00 price target (down previously from $57.00) on shares of U.S. Bancorp in a research note on Thursday, April 17th. Bank of America decreased their price objective on U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating for the company in a report on Monday, March 17th. Citigroup dropped their target price on shares of U.S. Bancorp from $65.00 to $55.00 and set a “buy” rating on the stock in a report on Monday, March 24th. Finally, Wolfe Research upgraded shares of U.S. Bancorp from a “peer perform” rating to an “outperform” rating and set a $49.00 price target for the company in a report on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $50.48.

Insider Transactions at U.S. Bancorp

In related news, CEO Andrew Cecere sold 102,044 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $47.25, for a total value of $4,821,579.00. Following the transaction, the chief executive officer now owns 1,230,316 shares in the company, valued at approximately $58,132,431. This represents a 7.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Aleem Gillani acquired 5,000 shares of the firm’s stock in a transaction on Monday, April 21st. The shares were acquired at an average price of $37.32 per share, with a total value of $186,600.00. Following the completion of the purchase, the director now owns 15,000 shares in the company, valued at approximately $559,800. This trade represents a 50.00 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 219,812 shares of company stock worth $10,385,665 over the last three months. 0.23% of the stock is currently owned by insiders.

U.S. Bancorp Stock Up 0.5 %

NYSE:USB opened at $40.52 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $53.98. The company has a market cap of $63.14 billion, a PE ratio of 10.69, a P/E/G ratio of 1.73 and a beta of 0.91. The company’s 50 day moving average is $41.23 and its two-hundred day moving average is $46.44.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $1.03 EPS for the quarter, topping the consensus estimate of $0.97 by $0.06. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The business had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $6.92 billion. During the same period in the previous year, the firm posted $0.78 earnings per share. Analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.94%. The ex-dividend date was Monday, March 31st. U.S. Bancorp’s dividend payout ratio is presently 49.50%.

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.