D.A. Davidson & CO. Acquires 31,201 Shares of U.S. Bancorp $USB

D.A. Davidson & CO. raised its holdings in U.S. Bancorp (NYSE:USB) by 7.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 436,038 shares of the financial services provider’s stock after buying an additional 31,201 shares during the quarter. D.A. Davidson & CO.’s holdings in U.S. Bancorp were worth $21,074,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of USB. IMG Wealth Management Inc. bought a new position in U.S. Bancorp during the second quarter worth $25,000. Hillsdale Investment Management Inc. acquired a new position in shares of U.S. Bancorp during the second quarter valued at about $27,000. Pineridge Advisors LLC boosted its position in shares of U.S. Bancorp by 446.2% during the 2nd quarter. Pineridge Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 522 shares in the last quarter. True Wealth Design LLC grew its stake in shares of U.S. Bancorp by 216.7% in the 3rd quarter. True Wealth Design LLC now owns 738 shares of the financial services provider’s stock valued at $36,000 after buying an additional 505 shares during the period. Finally, Activest Wealth Management increased its position in U.S. Bancorp by 846.5% in the 2nd quarter. Activest Wealth Management now owns 814 shares of the financial services provider’s stock valued at $37,000 after buying an additional 728 shares in the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insider Activity at U.S. Bancorp

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

U.S. Bancorp Price Performance

Shares of NYSE:USB opened at $53.90 on Monday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.10. The stock has a market cap of $83.79 billion, a PE ratio of 12.34, a price-to-earnings-growth ratio of 0.95 and a beta of 1.07. The stock’s fifty day simple moving average is $50.23 and its two-hundred day simple moving average is $48.16. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $55.15.

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

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Wednesday, December 31st. U.S. Bancorp’s payout ratio is presently 47.60%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on USB shares. UBS Group increased their price target on U.S. Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a report on Tuesday, October 7th. Deutsche Bank Aktiengesellschaft upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and set a $52.50 target price on the stock in a report on Thursday, October 23rd. Oppenheimer reduced their price target on shares of U.S. Bancorp from $66.00 to $64.00 and set an “outperform” rating for the company in a research report on Wednesday, November 19th. Barclays restated an “overweight” rating and set a $65.00 price objective on shares of U.S. Bancorp in a report on Monday. Finally, Wells Fargo & Company lifted their price objective on shares of U.S. Bancorp from $50.00 to $52.00 and gave the company an “overweight” rating in a report on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, U.S. Bancorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.42.

About U.S. Bancorp

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.