Mattson Financial Services LLC Takes $1.04 Million Position in U.S. Bancorp $USB

Mattson Financial Services LLC acquired a new stake in shares of U.S. Bancorp (NYSE:USB) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 21,417 shares of the financial services provider’s stock, valued at approximately $1,035,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Westhampton Capital LLC bought a new position in shares of U.S. Bancorp in the third quarter worth approximately $203,000. Perigon Wealth Management LLC grew its stake in U.S. Bancorp by 2.7% in the 3rd quarter. Perigon Wealth Management LLC now owns 21,988 shares of the financial services provider’s stock worth $1,063,000 after buying an additional 585 shares in the last quarter. Apella Capital LLC bought a new position in shares of U.S. Bancorp in the 3rd quarter worth $208,000. E. Ohman J or Asset Management AB increased its holdings in shares of U.S. Bancorp by 6.3% in the 3rd quarter. E. Ohman J or Asset Management AB now owns 67,581 shares of the financial services provider’s stock worth $3,266,000 after buying an additional 4,000 shares during the last quarter. Finally, Apollon Wealth Management LLC raised its position in shares of U.S. Bancorp by 11.5% during the 3rd quarter. Apollon Wealth Management LLC now owns 30,435 shares of the financial services provider’s stock valued at $1,471,000 after buying an additional 3,140 shares in the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

U.S. Bancorp Price Performance

Shares of U.S. Bancorp stock opened at $54.97 on Monday. The company’s fifty day simple moving average is $49.61 and its two-hundred day simple moving average is $47.79. U.S. Bancorp has a 12-month low of $35.18 and a 12-month high of $55.15. The firm has a market cap of $85.45 billion, a PE ratio of 12.58, a price-to-earnings-growth ratio of 1.04 and a beta of 1.10. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.10.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.11. The business had revenue of $7.34 billion during the quarter, compared to analysts’ expectations of $7.17 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.The business’s revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the business posted $1.03 EPS. As a group, equities analysts expect that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Wednesday, December 31st. U.S. Bancorp’s payout ratio is currently 47.60%.

Insider Activity at U.S. Bancorp

In related news, Chairman Andrew Cecere sold 140,445 shares of the company’s 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 transaction, the chairman directly owned 1,360,414 shares of the company’s stock, valued at approximately $63,041,584.76. This represents a 9.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP James L. Chosy sold 26,909 shares of the firm’s stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $46.86, for a total transaction of $1,260,955.74. Following the sale, the executive vice president directly owned 226,375 shares in the company, valued at approximately $10,607,932.50. The trade was a 10.62% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.23% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on USB. Keefe, Bruyette & Woods raised their price target on U.S. Bancorp from $53.00 to $58.00 and gave the company a “market perform” rating in a research report on Wednesday, December 17th. Oppenheimer reduced their price objective on U.S. Bancorp from $66.00 to $64.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 19th. Bank of America raised their price objective on U.S. Bancorp from $54.00 to $55.00 and gave the company a “buy” rating in a report on Friday, October 17th. Weiss Ratings restated a “buy (b-)” rating on shares of U.S. Bancorp in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company increased their price target on shares of U.S. Bancorp from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $54.95.

U.S. Bancorp Profile

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.