Forum Financial Management LP Buys 643 Shares of U.S. Bancorp $USB

Forum Financial Management LP increased its stake in U.S. Bancorp (NYSE:USB) by 2.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 25,724 shares of the financial services provider’s stock after purchasing an additional 643 shares during the period. Forum Financial Management LP’s holdings in U.S. Bancorp were worth $1,164,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of the business. Curbstone Financial Management Corp boosted its stake in U.S. Bancorp by 0.6% in the second quarter. Curbstone Financial Management Corp now owns 39,982 shares of the financial services provider’s stock valued at $1,809,000 after buying an additional 222 shares in the last quarter. Mechanics Financial Corp boosted its stake in U.S. Bancorp by 5.3% in the second quarter. Mechanics Financial Corp now owns 4,806 shares of the financial services provider’s stock valued at $217,000 after buying an additional 240 shares in the last quarter. Northern Financial Advisors Inc boosted its stake in U.S. Bancorp by 5.0% in the second quarter. Northern Financial Advisors Inc now owns 5,033 shares of the financial services provider’s stock valued at $228,000 after buying an additional 241 shares in the last quarter. Lawson Kroeker Investment Management Inc. NE boosted its stake in U.S. Bancorp by 0.5% in the second quarter. Lawson Kroeker Investment Management Inc. NE now owns 46,109 shares of the financial services provider’s stock valued at $2,086,000 after buying an additional 249 shares in the last quarter. Finally, Bestgate Wealth Advisors LLC boosted its stake in U.S. Bancorp by 3.3% in the first quarter. Bestgate Wealth Advisors LLC now owns 8,031 shares of the financial services provider’s stock valued at $339,000 after buying an additional 253 shares in the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

U.S. Bancorp Stock Performance

Shares of USB stock opened at $47.84 on Friday. The business’s 50-day moving average price is $48.05 and its 200-day moving average price is $45.05. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $53.98. The firm has a market capitalization of $74.45 billion, a price-to-earnings ratio of 10.95, a PEG ratio of 1.26 and a beta of 1.06. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.10.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.11. The company had revenue of $7.34 billion for the quarter, compared to analyst estimates of $7.17 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.The firm’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.03 earnings per share. Equities research analysts forecast that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were paid a $0.52 dividend. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend was Tuesday, September 30th. U.S. Bancorp’s payout ratio is presently 47.60%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. The Goldman Sachs Group set a $52.00 price objective on U.S. Bancorp and gave the company a “neutral” rating in a research note on Friday, October 17th. Deutsche Bank Aktiengesellschaft raised U.S. Bancorp from a “hold” rating to a “buy” rating and set a $52.50 price objective on the stock in a research note on Thursday. Wall Street Zen raised U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. Cowen reissued a “buy” rating on shares of U.S. Bancorp in a research note on Monday. Finally, Morgan Stanley reissued a “positive” rating on shares of U.S. Bancorp in a research note on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $54.55.

Insider Buying and Selling

In related news, EVP James L. Chosy sold 26,909 shares of U.S. Bancorp stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $46.86, for a total value of $1,260,955.74. Following the transaction, the executive vice president directly owned 226,375 shares of the company’s stock, valued at $10,607,932.50. The trade was a 10.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Andrew Cecere sold 140,445 shares of U.S. Bancorp stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $46.34, for a total value of $6,508,221.30. Following the completion of the transaction, the chairman directly owned 1,360,414 shares in the company, valued at approximately $63,041,584.76. This represents a 9.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.23% of the stock is owned by insiders.

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.