U.S. Bancorp (NYSE:USB) Shares Bought by Olstein Capital Management L.P.

Olstein Capital Management L.P. grew its position in U.S. Bancorp (NYSE:USB) by 2.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 168,000 shares of the financial services provider’s stock after purchasing an additional 4,500 shares during the period. Olstein Capital Management L.P.’s holdings in U.S. Bancorp were worth $7,093,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. J.Safra Asset Management Corp purchased a new position in shares of U.S. Bancorp in the 4th quarter valued at $26,000. FPC Investment Advisory Inc. acquired a new position in shares of U.S. Bancorp during the fourth quarter worth about $28,000. Stonebridge Financial Group LLC purchased a new stake in shares of U.S. Bancorp in the fourth quarter worth about $30,000. Picton Mahoney Asset Management acquired a new stake in shares of U.S. Bancorp in the fourth quarter valued at about $30,000. Finally, Millstone Evans Group LLC purchased a new stake in shares of U.S. Bancorp during the 4th quarter valued at about $31,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on USB shares. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $43.50 price objective (down previously from $51.00) on shares of U.S. Bancorp in a research note on Thursday, April 3rd. Wolfe Research upgraded U.S. Bancorp from a “peer perform” rating to an “outperform” rating and set a $49.00 target price for the company in a research note on Thursday, April 3rd. Wall Street Zen cut U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday. DA Davidson reduced their price target on U.S. Bancorp from $54.00 to $49.00 and set a “buy” rating for the company in a report on Thursday, April 17th. Finally, Evercore ISI raised their price objective on U.S. Bancorp from $44.00 to $49.00 and gave the company an “in-line” rating in a research note on Wednesday, June 4th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, U.S. Bancorp has a consensus rating of “Moderate Buy” and an average target price of $50.67.

U.S. Bancorp Trading Up 2.5%

U.S. Bancorp stock opened at $44.76 on Monday. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $53.98. The firm’s 50-day moving average is $41.15 and its 200-day 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. The company has a market cap of $69.74 billion, a P/E ratio of 11.81, a PEG ratio of 1.73 and a beta of 0.99.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.06. The business had revenue of $6.96 billion for the quarter, compared to analysts’ expectations of $6.92 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. During the same period in the prior year, the firm earned $0.78 EPS. On average, equities analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.47%. The ex-dividend date was Monday, March 31st. U.S. Bancorp’s payout ratio is 49.50%.

Insider Activity

In other U.S. Bancorp news, Director Aleem Gillani purchased 5,000 shares of U.S. Bancorp stock in a transaction on Monday, April 21st. The stock was bought at an average price of $37.32 per share, for a total transaction of $186,600.00. Following the transaction, the director now owns 15,000 shares of the company’s stock, valued at $559,800. The trade was a 50.00% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.23% of the company’s stock.

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.