U.S. Bancorp (NYSE:USB) Position Increased by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC boosted its holdings in U.S. Bancorp (NYSE:USB) by 7.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 44,813 shares of the financial services provider’s stock after buying an additional 3,153 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in U.S. Bancorp were worth $1,892,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of U.S. Bancorp by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 138,836,896 shares of the financial services provider’s stock worth $6,640,569,000 after purchasing an additional 1,079,056 shares during the period. FMR LLC raised its holdings in U.S. Bancorp by 5.0% during the 4th quarter. FMR LLC now owns 67,125,746 shares of the financial services provider’s stock worth $3,210,624,000 after buying an additional 3,211,815 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in U.S. Bancorp by 5.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 49,789,725 shares of the financial services provider’s stock worth $2,381,443,000 after buying an additional 2,460,845 shares during the period. Geode Capital Management LLC lifted its stake in U.S. Bancorp by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 33,937,360 shares of the financial services provider’s stock valued at $1,618,948,000 after buying an additional 850,763 shares in the last quarter. Finally, Amundi increased its position in shares of U.S. Bancorp by 7.4% in the fourth quarter. Amundi now owns 19,485,615 shares of the financial services provider’s stock worth $945,268,000 after acquiring an additional 1,341,407 shares in the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insider Buying and Selling

In other news, Director Aleem Gillani purchased 5,000 shares of the firm’s stock in a transaction on Monday, April 21st. The stock was bought at an average cost of $37.32 per share, for a total transaction of $186,600.00. Following the completion of the acquisition, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $559,800. The trade was a 50.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Cowen began coverage on shares of U.S. Bancorp in a research report on Wednesday, May 14th. They set a “buy” rating on the stock. Wolfe Research upgraded U.S. Bancorp from a “peer perform” rating to an “outperform” rating and set a $49.00 price target on the stock in a report on Thursday, April 3rd. JPMorgan Chase & Co. reissued an “underweight” rating and set a $43.50 price target (down from $51.00) on shares of U.S. Bancorp in a research report on Thursday, April 3rd. TD Cowen started coverage on U.S. Bancorp in a research report on Thursday, May 15th. They set a “buy” rating and a $60.00 price objective for the company. Finally, Oppenheimer lifted their target price on U.S. Bancorp from $57.00 to $59.00 and gave the company an “outperform” rating in a research note on Monday, April 28th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, U.S. Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $50.72.

U.S. Bancorp Trading Up 1.2%

Shares of NYSE:USB opened at $43.20 on Thursday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. The stock has a market capitalization of $67.30 billion, a PE ratio of 10.69, a P/E/G ratio of 1.60 and a beta of 0.99. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $53.98. The firm has a fifty day moving average price of $42.02 and a 200 day moving average price of $44.91.

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. U.S. Bancorp had a return on equity of 13.02% and a net margin of 15.70%. The company had revenue of $6.96 billion during the quarter, compared to analysts’ expectations of $6.92 billion. During the same quarter in the previous year, the firm earned $0.78 earnings per share. Analysts expect that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.63%. U.S. Bancorp’s payout ratio is presently 49.50%.

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.