Pacific Global Investment Management Co. Purchases 2,768 Shares of U.S. Bancorp (NYSE:USB)

Pacific Global Investment Management Co. grew its position in shares of U.S. Bancorp (NYSE:USB) by 21.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 15,979 shares of the financial services provider’s stock after acquiring an additional 2,768 shares during the quarter. Pacific Global Investment Management Co.’s holdings in U.S. Bancorp were worth $675,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. J.Safra Asset Management Corp purchased a new position in U.S. Bancorp in the fourth quarter worth about $26,000. Picton Mahoney Asset Management bought a new stake in shares of U.S. Bancorp in the 4th quarter valued at approximately $30,000. Alpine Bank Wealth Management purchased a new position in shares of U.S. Bancorp in the 1st quarter worth approximately $30,000. Millstone Evans Group LLC purchased a new position in shares of U.S. Bancorp in the 4th quarter worth approximately $31,000. Finally, REAP Financial Group LLC increased its position in shares of U.S. Bancorp by 86.1% during the 4th quarter. REAP Financial Group LLC now owns 642 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 297 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Aleem Gillani bought 5,000 shares of U.S. Bancorp stock in a transaction on Monday, April 21st. The stock was acquired 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 owns 15,000 shares of the company’s stock, valued at $559,800. This trade represents a 50.00% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.23% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

USB has been the subject of a number of analyst reports. Citigroup lowered their price target on U.S. Bancorp from $65.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, March 24th. JPMorgan Chase & Co. restated an “underweight” rating and issued a $43.50 target price (down previously from $51.00) on shares of U.S. Bancorp in a report on Thursday, April 3rd. Piper Sandler dropped their price target on shares of U.S. Bancorp from $49.00 to $48.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. DA Davidson reduced their price objective on shares of U.S. Bancorp from $54.00 to $49.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. Finally, Wells Fargo & Company dropped their target price on U.S. Bancorp from $56.00 to $50.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $50.72.

U.S. Bancorp Trading Up 1.8%

NYSE USB opened at $45.64 on Friday. U.S. Bancorp has a one year low of $35.18 and a one year high of $53.98. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market capitalization of $71.11 billion, a price-to-earnings ratio of 11.30, a price-to-earnings-growth ratio of 1.69 and a beta of 0.99. The company’s 50-day simple moving average is $42.78 and its two-hundred day simple moving average is $44.58.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.06. The company had revenue of $6.96 billion for the quarter, compared to analyst estimates of $6.92 billion. U.S. Bancorp had a net margin of 15.70% and a return on equity of 13.02%. During the same period last year, the company posted $0.78 earnings per share. Equities analysts forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.38%. The ex-dividend date is Monday, June 30th. U.S. Bancorp’s dividend payout ratio (DPR) is currently 49.50%.

U.S. Bancorp Company 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.