Bank of Stockton Has $639,000 Stock Position in U.S. Bancorp (NYSE:USB)

Bank of Stockton grew its stake in shares of U.S. Bancorp (NYSE:USB) by 3.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,125 shares of the financial services provider’s stock after acquiring an additional 469 shares during the period. Bank of Stockton’s holdings in U.S. Bancorp were worth $639,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Norges Bank acquired a new stake in U.S. Bancorp during the 4th quarter worth approximately $777,524,000. Invesco Ltd. increased its position in U.S. Bancorp by 48.1% during the 4th quarter. Invesco Ltd. now owns 16,787,513 shares of the financial services provider’s stock worth $802,947,000 after buying an additional 5,449,949 shares during the period. Marshall Wace LLP grew its stake in shares of U.S. Bancorp by 414.1% in the fourth quarter. Marshall Wace LLP now owns 5,789,565 shares of the financial services provider’s stock valued at $276,915,000 after acquiring an additional 4,663,518 shares in the last quarter. Raymond James Financial Inc. bought a new stake in U.S. Bancorp in the 4th quarter valued at about $184,733,000. Finally, FMR LLC grew its position in shares of U.S. Bancorp by 5.0% during the 4th quarter. FMR LLC now owns 67,125,746 shares of the financial services provider’s stock worth $3,210,624,000 after purchasing an additional 3,211,815 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

U.S. Bancorp Stock Performance

Shares of U.S. Bancorp stock opened at $44.84 on Thursday. The stock has a market cap of $69.86 billion, a price-to-earnings ratio of 11.10, a P/E/G ratio of 1.68 and a beta of 0.99. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $53.98. The company’s fifty day moving average is $42.63 and its 200 day moving average is $44.62. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.11.

U.S. Bancorp (NYSE:USB) last announced its 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. U.S. Bancorp had a return on equity of 13.02% and a net margin of 15.70%. The business had revenue of $6.96 billion for the quarter, compared to analysts’ expectations of $6.92 billion. During the same period in the prior year, the business posted $0.78 earnings per share. Sell-side analysts forecast that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.46%. The ex-dividend date is Monday, June 30th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 49.50%.

Insider Activity at U.S. Bancorp

In other news, Director Aleem Gillani acquired 5,000 shares of U.S. Bancorp stock in a transaction on Monday, April 21st. The stock was purchased at an average price of $37.32 per share, with a total value of $186,600.00. Following the completion of the purchase, the director now owns 15,000 shares of the company’s stock, valued at approximately $559,800. The trade was a 50.00% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.23% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

USB has been the subject of several recent research reports. Raymond James Financial reiterated an “outperform” rating and issued a $51.00 price target (down from $57.00) on shares of U.S. Bancorp in a research note on Thursday, April 17th. JPMorgan Chase & Co. restated an “underweight” rating and issued a $43.50 price target (down previously from $51.00) on shares of U.S. Bancorp in a research report on Thursday, April 3rd. The Goldman Sachs Group upped their price objective on shares of U.S. Bancorp from $41.00 to $46.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 10th. Bank of America reduced their price target on shares of U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating on the stock in a research report on Monday, March 17th. Finally, TD Cowen initiated coverage on shares of U.S. Bancorp in a research report on Thursday, May 15th. They set a “buy” rating and a $60.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $50.72.

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.