Deane Retirement Strategies Inc. Buys 1,416 Shares of U.S. Bancorp (NYSE:USB)

Deane Retirement Strategies Inc. lifted its stake in shares of U.S. Bancorp (NYSE:USB) by 2.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 72,169 shares of the financial services provider’s stock after purchasing an additional 1,416 shares during the period. U.S. Bancorp accounts for 1.5% of Deane Retirement Strategies Inc.’s holdings, making the stock its 24th biggest position. Deane Retirement Strategies Inc.’s holdings in U.S. Bancorp were worth $3,047,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Portside Wealth Group LLC raised its stake in shares of U.S. Bancorp by 5.3% during the 1st quarter. Portside Wealth Group LLC now owns 41,168 shares of the financial services provider’s stock worth $1,738,000 after purchasing an additional 2,062 shares in the last quarter. Moss Adams Wealth Advisors LLC raised its stake in shares of U.S. Bancorp by 7.3% during the 1st quarter. Moss Adams Wealth Advisors LLC now owns 9,272 shares of the financial services provider’s stock worth $396,000 after purchasing an additional 628 shares in the last quarter. Wesbanco Bank Inc. raised its stake in shares of U.S. Bancorp by 31.6% during the 1st quarter. Wesbanco Bank Inc. now owns 325,056 shares of the financial services provider’s stock worth $13,724,000 after purchasing an additional 78,146 shares in the last quarter. Capital Investment Advisors LLC raised its stake in shares of U.S. Bancorp by 10.1% during the 1st quarter. Capital Investment Advisors LLC now owns 7,871 shares of the financial services provider’s stock worth $332,000 after purchasing an additional 722 shares in the last quarter. Finally, Meridian Financial Partners LLC raised its stake in shares of U.S. Bancorp by 2.1% during the 1st quarter. Meridian Financial Partners LLC now owns 25,534 shares of the financial services provider’s stock worth $1,078,000 after purchasing an additional 530 shares in the last quarter. Institutional investors own 77.60% of the company’s stock.

Analyst Upgrades and Downgrades

USB has been the topic of a number of analyst reports. Cowen initiated coverage on U.S. Bancorp in a research note on Wednesday, May 14th. They set a “buy” rating on the stock. TD Cowen initiated coverage on U.S. Bancorp in a report on Thursday, May 15th. They set a “buy” rating and a $60.00 target price on the stock. The Goldman Sachs Group cut their price target on U.S. Bancorp from $51.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, March 19th. Bank of America reduced their price objective on shares of U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating for the company in a research report on Monday, March 17th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $43.50 price objective (down from $51.00) on shares of U.S. Bancorp in a report on Thursday, April 3rd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $50.67.

U.S. Bancorp Trading Up 2.5%

USB stock opened at $44.76 on Monday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81. The company’s 50-day simple moving average is $41.15 and its 200 day simple moving average is $45.32. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $53.98. The company has a market capitalization of $69.74 billion, a PE ratio of 11.81, a price-to-earnings-growth ratio of 1.73 and a beta of 0.99.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $1.03 EPS for the quarter, beating the consensus estimate of $0.97 by $0.06. The business had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $6.92 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. During the same period in the prior year, the company posted $0.78 earnings per share. As a group, sell-side analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders 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 yield of 4.47%. U.S. Bancorp’s payout ratio is 49.50%.

Insiders Place Their Bets

In other news, Director Aleem Gillani acquired 5,000 shares of U.S. Bancorp stock in a transaction on Monday, April 21st. The shares were purchased at an average cost of $37.32 per share, for a total transaction of $186,600.00. Following the completion of the purchase, 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 position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.23% of the company’s stock.

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.