Forum Financial Management LP Sells 23,464 Shares of U.S. Bancorp $USB

Forum Financial Management LP reduced its position in U.S. Bancorp (NYSE:USB) by 85.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 4,046 shares of the financial services provider’s stock after selling 23,464 shares during the period. Forum Financial Management LP’s holdings in U.S. Bancorp were worth $210,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of USB. Financial Life Planners bought a new stake in U.S. Bancorp in the third quarter valued at approximately $25,000. Clayton Financial Group LLC bought a new position in shares of U.S. Bancorp during the 4th quarter worth approximately $25,000. JPL Wealth Management LLC bought a new position in shares of U.S. Bancorp during the 3rd quarter worth approximately $28,000. Binnacle Investments Inc boosted its stake in shares of U.S. Bancorp by 77.8% during the 3rd quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 273 shares during the period. Finally, Rossby Financial LCC increased its holdings in shares of U.S. Bancorp by 57.8% during the 4th quarter. Rossby Financial LCC now owns 579 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 212 shares during the last quarter. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Performance

NYSE:USB opened at $62.01 on Thursday. The stock has a market cap of $96.18 billion, a P/E ratio of 13.00, a PEG ratio of 1.04 and a beta of 0.96. The stock has a 50 day simple moving average of $56.38 and a 200 day simple moving average of $55.40. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.03. U.S. Bancorp has a 1-year low of $43.46 and a 1-year high of $62.20.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Thursday, April 16th. The financial services provider reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.04. The firm had revenue of $7.32 billion for the quarter, compared to analyst estimates of $7.27 billion. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.03 EPS. Research analysts anticipate that U.S. Bancorp will post 5.09 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Tuesday, June 30th. U.S. Bancorp’s payout ratio is presently 43.61%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Morgan Stanley increased their price target on U.S. Bancorp from $64.00 to $67.00 and gave the company an “equal weight” rating in a research note on Monday. Jefferies Financial Group reiterated a “hold” rating and issued a $60.00 price objective on shares of U.S. Bancorp in a report on Thursday, April 16th. JPMorgan Chase & Co. dropped their price objective on shares of U.S. Bancorp from $58.00 to $57.50 and set an “underweight” rating on the stock in a research report on Thursday, April 30th. Weiss Ratings raised shares of U.S. Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 4th. Finally, Royal Bank Of Canada raised their target price on shares of U.S. Bancorp from $59.00 to $61.00 and gave the stock an “outperform” rating in a research note on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $61.57.

Insider Activity

In related news, EVP Venkatachari Dilip sold 34,522 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total value of $1,916,661.44. Following the transaction, the executive vice president directly owned 51,292 shares in the company, valued at approximately $2,847,731.84. This represents a 40.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jodi L. Richard sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the transaction, the insider directly owned 207,251 shares in the company, valued at approximately $11,813,307. This represents a 16.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.21% of the company’s stock.

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.