Procyon Advisors LLC Grows Holdings in U.S. Bancorp (NYSE:USB)

Procyon Advisors LLC raised its holdings in shares of U.S. Bancorp (NYSE:USB) by 34.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,214 shares of the financial services provider’s stock after purchasing an additional 6,945 shares during the quarter. Procyon Advisors LLC’s holdings in U.S. Bancorp were worth $1,056,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Capital Performance Advisors LLP increased its stake in U.S. Bancorp by 2.6% during the fourth quarter. Capital Performance Advisors LLP now owns 8,188 shares of the financial services provider’s stock worth $392,000 after acquiring an additional 210 shares during the last quarter. Covestor Ltd lifted its stake in shares of U.S. Bancorp by 12.3% in the 4th quarter. Covestor Ltd now owns 1,955 shares of the financial services provider’s stock valued at $94,000 after purchasing an additional 214 shares during the last quarter. TrinityPoint Wealth LLC grew its holdings in shares of U.S. Bancorp by 2.3% during the 4th quarter. TrinityPoint Wealth LLC now owns 10,355 shares of the financial services provider’s stock worth $495,000 after purchasing an additional 231 shares during the period. CoreCap Advisors LLC grew its holdings in shares of U.S. Bancorp by 36.6% during the 4th quarter. CoreCap Advisors LLC now owns 904 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 242 shares during the period. Finally, Transcend Capital Advisors LLC increased its position in shares of U.S. Bancorp by 5.1% during the 4th quarter. Transcend Capital Advisors LLC now owns 5,196 shares of the financial services provider’s stock worth $249,000 after purchasing an additional 252 shares during the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, Director Aleem Gillani purchased 5,000 shares of the firm’s stock in a transaction on Monday, April 21st. The stock was bought at an average cost of $37.32 per share, with a total value of $186,600.00. Following the acquisition, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $559,800. This represents a 50.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.23% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on USB shares. Royal Bank of Canada decreased their target price on shares of U.S. Bancorp from $57.00 to $50.00 and set an “outperform” rating on the stock in a research report on Thursday, April 17th. Wall Street Zen downgraded shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday. Wells Fargo & Company lowered their price objective on shares of U.S. Bancorp from $56.00 to $50.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. Keefe, Bruyette & Woods dropped their target price on shares of U.S. Bancorp from $54.00 to $49.00 and set a “market perform” rating for the company in a report on Thursday, April 17th. Finally, JPMorgan Chase & Co. reissued an “underweight” rating and issued a $43.50 target price (down previously from $51.00) on shares of U.S. Bancorp in a research report on Thursday, April 3rd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $50.67.

U.S. Bancorp Stock Performance

Shares of U.S. Bancorp stock opened at $44.76 on Friday. The business has a 50-day simple moving average of $41.15 and a 200-day simple moving average of $45.36. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81. U.S. Bancorp has a one year low of $35.18 and a one year high of $53.98. The company has a market cap of $69.74 billion, a PE ratio of 11.81, a P/E/G ratio of 1.73 and a beta of 0.99.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.06. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The company had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $6.92 billion. During the same quarter in the previous year, the firm earned $0.78 earnings per share. On average, equities research analysts forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.47%. U.S. Bancorp’s payout ratio is currently 49.50%.

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 through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.