Mission Creek Capital Partners Inc. grew its position in shares of U.S. Bancorp (NYSE:USB – Free Report) by 86.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,832 shares of the financial services provider’s stock after purchasing an additional 6,430 shares during the quarter. Mission Creek Capital Partners Inc.’s holdings in U.S. Bancorp were worth $499,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the company. BCK Partners Inc. bought a new position in shares of U.S. Bancorp during the first quarter valued at about $2,514,000. Acadian Asset Management LLC increased its stake in U.S. Bancorp by 3.0% in the 1st quarter. Acadian Asset Management LLC now owns 9,397 shares of the financial services provider’s stock worth $499,000 after purchasing an additional 276 shares during the period. Vontobel Holding Ltd. lifted its position in U.S. Bancorp by 20.8% in the first quarter. Vontobel Holding Ltd. now owns 21,314 shares of the financial services provider’s stock valued at $1,176,000 after purchasing an additional 3,663 shares during the last quarter. Prudential PLC purchased a new stake in shares of U.S. Bancorp during the first quarter valued at approximately $1,731,000. Finally, Candriam Luxembourg S.C.A. grew its holdings in shares of U.S. Bancorp by 5.9% in the first quarter. Candriam Luxembourg S.C.A. now owns 86,048 shares of the financial services provider’s stock worth $4,573,000 after purchasing an additional 4,827 shares during the last quarter. 75.40% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
USB has been the subject of a number of recent analyst reports. Barclays lowered their price target on shares of U.S. Bancorp from $52.00 to $48.00 in a report on Tuesday, June 27th. Stephens reissued an “overweight” rating and issued a $47.00 target price on shares of U.S. Bancorp in a research note on Monday, July 24th. StockNews.com initiated coverage on U.S. Bancorp in a research report on Thursday, August 17th. They set a “sell” rating for the company. DA Davidson lifted their price objective on U.S. Bancorp from $39.00 to $41.00 and gave the stock a “neutral” rating in a research report on Monday, July 24th. Finally, Morgan Stanley restated an “equal weight” rating and set a $45.00 target price on shares of U.S. Bancorp in a report on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $47.33.
U.S. Bancorp Stock Up 1.3 %
USB stock opened at $36.11 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.97. The business has a 50 day moving average of $37.03 and a 200 day moving average of $35.59. U.S. Bancorp has a twelve month low of $27.27 and a twelve month high of $49.95. The firm has a market cap of $55.36 billion, a PE ratio of 10.00, a price-to-earnings-growth ratio of 1.61 and a beta of 0.98.
U.S. Bancorp (NYSE:USB – Get Free Report) last posted its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.01). U.S. Bancorp had a return on equity of 16.53% and a net margin of 16.59%. The company had revenue of $7.17 billion during the quarter, compared to analysts’ expectations of $7.17 billion. During the same period in the prior year, the firm earned $1.09 EPS. U.S. Bancorp’s revenue for the quarter was up 19.7% compared to the same quarter last year. On average, research analysts forecast that U.S. Bancorp will post 4.44 EPS for the current fiscal year.
U.S. Bancorp Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Friday, June 30th were given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 5.32%. The ex-dividend date of this dividend was Thursday, June 29th. U.S. Bancorp’s dividend payout ratio (DPR) is currently 53.19%.
Insider Activity at U.S. Bancorp
In other U.S. Bancorp news, insider Timothy A. Welsh sold 13,816 shares of U.S. Bancorp stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $39.79, for a total value of $549,738.64. Following the completion of the sale, the insider now owns 119,058 shares of the company’s stock, valued at approximately $4,737,317.82. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Timothy A. Welsh sold 13,816 shares of U.S. Bancorp stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $39.79, for a total value of $549,738.64. Following the completion of the sale, the insider now directly owns 119,058 shares in the company, valued at $4,737,317.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Terrance R. Dolan sold 26,000 shares of the stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $39.75, for a total transaction of $1,033,500.00. Following the transaction, the chief financial officer now owns 166,992 shares in the company, valued at approximately $6,637,932. The disclosure for this sale can be found here. 0.24% of the stock is currently 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 in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments.
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