Park Avenue Securities LLC Increases Stake in U.S. Bancorp (NYSE:USB)

Park Avenue Securities LLC raised its position in U.S. Bancorp (NYSE:USB) by 4.3% during the first quarter, HoldingsChannel reports. The firm owned 182,304 shares of the financial services provider’s stock after buying an additional 7,443 shares during the quarter. Park Avenue Securities LLC’s holdings in U.S. Bancorp were worth $7,697,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Capital Performance Advisors LLP increased its holdings in U.S. Bancorp by 2.6% during the 4th quarter. Capital Performance Advisors LLP now owns 8,188 shares of the financial services provider’s stock valued at $392,000 after acquiring an additional 210 shares in the last quarter. Covestor Ltd increased its holdings in U.S. Bancorp by 12.3% during the 4th quarter. Covestor Ltd now owns 1,955 shares of the financial services provider’s stock valued at $94,000 after acquiring an additional 214 shares in the last quarter. TrinityPoint Wealth LLC increased its holdings in U.S. Bancorp by 2.3% during the 4th quarter. TrinityPoint Wealth LLC now owns 10,355 shares of the financial services provider’s stock valued at $495,000 after acquiring an additional 231 shares in the last quarter. CoreCap Advisors LLC increased its holdings in U.S. Bancorp by 36.6% during the 4th quarter. CoreCap Advisors LLC now owns 904 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 242 shares in the last quarter. Finally, Transcend Capital Advisors LLC increased its holdings in U.S. Bancorp by 5.1% during the 4th quarter. Transcend Capital Advisors LLC now owns 5,196 shares of the financial services provider’s stock valued at $249,000 after acquiring an additional 252 shares in the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, Director Aleem Gillani purchased 5,000 shares of the business’s stock in a transaction that occurred on Monday, April 21st. The shares were purchased at an average price of $37.32 per share, for a total transaction of $186,600.00. Following the completion of the acquisition, the director now owns 15,000 shares of the company’s stock, valued at approximately $559,800. This represents a 50.00% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.23% of the stock is currently owned by insiders.

U.S. Bancorp Price Performance

USB opened at $44.76 on Monday. The company’s 50 day simple moving average is $41.15 and its 200 day simple moving average is $45.32. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $53.98. The stock has a market capitalization of $69.74 billion, a PE ratio of 11.81, a P/E/G ratio of 1.73 and a beta of 0.99.

U.S. Bancorp (NYSE:USB) last released its earnings results on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share (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 for the quarter, compared to analysts’ expectations of $6.92 billion. During the same period last year, the company earned $0.78 earnings per share. As a group, sell-side analysts expect that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.00 annualized dividend and a yield of 4.47%. U.S. Bancorp’s payout ratio is 49.50%.

Analyst Ratings Changes

Several research firms have weighed in on USB. Wells Fargo & Company dropped their target price on shares of U.S. Bancorp from $56.00 to $50.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. Raymond James reaffirmed an “outperform” rating and set a $51.00 price target (down from $57.00) on shares of U.S. Bancorp in a research note on Thursday, April 17th. Barclays decreased their price target on shares of U.S. Bancorp from $61.00 to $56.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. DA Davidson decreased their price target on shares of U.S. Bancorp from $54.00 to $49.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Finally, Royal Bank of Canada decreased their price target on shares of U.S. Bancorp from $57.00 to $50.00 and set an “outperform” rating on the stock in a research note on Thursday, April 17th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.67.

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.