Prossimo Advisors LLC Purchases 345 Shares of U.S. Bancorp (NYSE:USB)

Prossimo Advisors LLC increased its position in U.S. Bancorp (NYSE:USB) by 2.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,896 shares of the financial services provider’s stock after purchasing an additional 345 shares during the quarter. Prossimo Advisors LLC’s holdings in U.S. Bancorp were worth $671,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in USB. Norges Bank acquired a new position in U.S. Bancorp in the fourth quarter valued at about $777,524,000. Invesco Ltd. increased its stake in shares of U.S. Bancorp by 48.1% in the 4th quarter. Invesco Ltd. now owns 16,787,513 shares of the financial services provider’s stock valued at $802,947,000 after acquiring an additional 5,449,949 shares during the last quarter. Marshall Wace LLP raised its position in shares of 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 valued at $276,915,000 after acquiring an additional 4,663,518 shares during the period. FMR LLC boosted its stake 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 acquiring an additional 3,211,815 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in U.S. Bancorp by 10.9% during the fourth quarter. Northern Trust Corp now owns 17,050,568 shares of the financial services provider’s stock valued at $815,529,000 after purchasing an additional 1,670,305 shares during the period. 77.60% of the stock is owned by institutional investors.

U.S. Bancorp Trading Up 0.6%

U.S. Bancorp stock opened at $46.32 on Friday. The company has a market cap of $72.16 billion, a price-to-earnings ratio of 11.08, a P/E/G ratio of 1.45 and a beta of 0.99. The firm has a 50-day moving average of $44.99 and a 200-day moving average of $44.22. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.81 and a quick ratio of 0.81. U.S. Bancorp has a one year low of $35.18 and a one year high of $53.98.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Thursday, July 17th. The financial services provider reported $1.11 EPS for the quarter, beating the consensus estimate of $1.07 by $0.04. The firm had revenue of $7.06 billion during the quarter, compared to analysts’ expectations of $7.07 billion. U.S. Bancorp had a return on equity of 13.08% and a net margin of 16.30%. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.98 earnings per share. On average, equities analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a $0.50 dividend. The ex-dividend date was Monday, June 30th. This represents a $2.00 annualized dividend and a dividend yield of 4.32%. U.S. Bancorp’s dividend payout ratio is presently 47.85%.

Wall Street Analyst Weigh In

Several research firms have weighed in on USB. Wolfe Research upgraded shares of U.S. Bancorp from a “peer perform” rating to an “outperform” rating and set a $49.00 target price on the stock in a report on Thursday, April 3rd. Citigroup raised their price objective on U.S. Bancorp from $55.00 to $59.00 and gave the stock a “buy” rating in a research note on Wednesday, July 2nd. Morgan Stanley boosted their target price on U.S. Bancorp from $51.00 to $52.00 and gave the company an “overweight” rating in a research note on Friday, July 18th. Wells Fargo & Company dropped their price target on U.S. Bancorp from $56.00 to $50.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. Finally, Royal Bank Of Canada cut their price objective on U.S. Bancorp from $57.00 to $50.00 and set an “outperform” rating on the stock in a report on Thursday, April 17th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, U.S. Bancorp presently has an average rating of “Moderate Buy” and a consensus target price of $52.50.

Insiders Place Their Bets

In other U.S. Bancorp news, EVP Souheil Badran sold 23,727 shares of the stock in a transaction on Monday, July 21st. The shares were sold at an average price of $46.34, for a total value of $1,099,509.18. Following the completion of the sale, the executive vice president owned 70,346 shares in the company, valued at $3,259,833.64. This trade represents a 25.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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.