Bleakley Financial Group LLC Increases Stock Position in U.S. Bancorp $USB

Bleakley Financial Group LLC raised its holdings in U.S. Bancorp (NYSE:USB) by 1.0% during the 2nd quarter, Holdings Channel reports. The firm owned 48,113 shares of the financial services provider’s stock after purchasing an additional 467 shares during the quarter. Bleakley Financial Group LLC’s holdings in U.S. Bancorp were worth $2,177,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of USB. Brighton Jones LLC lifted its holdings in shares of U.S. Bancorp by 323.0% in the fourth quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider’s stock valued at $2,309,000 after purchasing an additional 36,863 shares in the last quarter. GAMMA Investing LLC raised its position in shares of U.S. Bancorp by 0.9% in the first quarter. GAMMA Investing LLC now owns 36,656 shares of the financial services provider’s stock valued at $1,548,000 after buying an additional 333 shares during the last quarter. Moran Wealth Management LLC raised its position in shares of U.S. Bancorp by 4.9% in the first quarter. Moran Wealth Management LLC now owns 12,802 shares of the financial services provider’s stock valued at $540,000 after buying an additional 594 shares during the last quarter. Golden State Wealth Management LLC raised its position in shares of U.S. Bancorp by 137.4% in the first quarter. Golden State Wealth Management LLC now owns 5,571 shares of the financial services provider’s stock valued at $235,000 after buying an additional 3,224 shares during the last quarter. Finally, Alpine Bank Wealth Management acquired a new position in shares of U.S. Bancorp in the first quarter valued at approximately $30,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on USB shares. Bank of America boosted their price objective on shares of U.S. Bancorp from $54.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, October 17th. Deutsche Bank Aktiengesellschaft upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $52.50 price objective for the company in a research note on Thursday. TD Cowen upped their target price on shares of U.S. Bancorp from $59.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, October 20th. Wells Fargo & Company upped their target price on shares of U.S. Bancorp from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Friday, October 17th. Finally, Wall Street Zen upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $54.55.

U.S. Bancorp Stock Performance

Shares of USB opened at $48.31 on Friday. U.S. Bancorp has a one year low of $35.18 and a one year high of $53.98. The company has a 50-day moving average of $48.10 and a two-hundred day moving average of $45.13. The stock has a market cap of $75.17 billion, a price-to-earnings ratio of 11.05, a PEG ratio of 1.28 and a beta of 1.06. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.82 and a quick ratio of 0.82.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Thursday, October 16th. The financial services provider reported $1.22 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 company had revenue of $7.34 billion during the quarter, compared to analysts’ expectations of $7.17 billion. During the same period last year, the company posted $1.03 earnings per share. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. On average, equities research analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Increases Dividend

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

Insider Buying and Selling

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

About U.S. Bancorp

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.