Probity Advisors Inc. Acquires 10,394 Shares of U.S. Bancorp $USB

Probity Advisors Inc. increased its holdings in shares of U.S. Bancorp (NYSE:USB) by 27.5% during the second quarter, HoldingsChannel.com reports. The fund owned 48,215 shares of the financial services provider’s stock after buying an additional 10,394 shares during the quarter. Probity Advisors Inc.’s holdings in U.S. Bancorp were worth $2,182,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of USB. Brighton Jones LLC lifted its holdings in U.S. Bancorp by 323.0% during the fourth quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider’s stock worth $2,309,000 after acquiring an additional 36,863 shares during the period. GAMMA Investing LLC lifted its holdings in U.S. Bancorp by 0.9% during the first quarter. GAMMA Investing LLC now owns 36,656 shares of the financial services provider’s stock worth $1,548,000 after acquiring an additional 333 shares during the period. Cambridge Investment Research Advisors Inc. lifted its holdings in U.S. Bancorp by 8.8% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 217,657 shares of the financial services provider’s stock worth $9,189,000 after acquiring an additional 17,630 shares during the period. Continuum Advisory LLC lifted its holdings in U.S. Bancorp by 9.0% during the first quarter. Continuum Advisory LLC now owns 8,171 shares of the financial services provider’s stock worth $345,000 after acquiring an additional 677 shares during the period. Finally, Oppenheimer & Co. Inc. increased its position in U.S. Bancorp by 75.4% in the first quarter. Oppenheimer & Co. Inc. now owns 227,832 shares of the financial services provider’s stock worth $9,619,000 after buying an additional 97,957 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors.

U.S. Bancorp Price Performance

Shares of NYSE USB opened at $47.10 on Tuesday. The stock has a market cap of $73.29 billion, a PE ratio of 10.78, a price-to-earnings-growth ratio of 1.31 and a beta of 1.06. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two week high of $53.98. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a fifty day moving average of $47.98 and a 200-day moving average of $44.94.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.11. The company had revenue of $7.34 billion during the quarter, compared to analysts’ expectations of $7.17 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.03 earnings per share. Equities research analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were given a dividend of $0.52 per share. The ex-dividend date was Tuesday, September 30th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a yield of 4.4%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 47.60%.

Wall Street Analysts Forecast Growth

USB has been the topic of a number of recent research reports. UBS Group upped their price target on U.S. Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a research report on Tuesday, October 7th. TD Cowen upped their price objective on shares of U.S. Bancorp from $59.00 to $60.00 and gave the company a “buy” rating in a report on Monday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of U.S. Bancorp in a report on Wednesday, October 8th. Citigroup upped their price objective on shares of U.S. Bancorp from $65.00 to $70.00 and gave the company a “buy” rating in a report on Friday. Finally, Wells Fargo & Company upped their price objective on shares of U.S. Bancorp from $50.00 to $52.00 and gave the company an “overweight” rating in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $54.48.

U.S. Bancorp 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.