Choreo LLC Purchases 1,903 Shares of U.S. Bancorp $USB

Choreo LLC boosted its position in U.S. Bancorp (NYSE:USB) by 2.1% in the 2nd quarter, HoldingsChannel reports. The firm owned 90,658 shares of the financial services provider’s stock after acquiring an additional 1,903 shares during the period. Choreo LLC’s holdings in U.S. Bancorp were worth $4,147,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of USB. Country Trust Bank lifted its position in shares of U.S. Bancorp by 10,300.0% in the second quarter. Country Trust Bank now owns 2,184 shares of the financial services provider’s stock valued at $99,000 after buying an additional 2,163 shares during the last quarter. J.W. Cole Advisors Inc. raised its stake in U.S. Bancorp by 7.5% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 46,514 shares of the financial services provider’s stock valued at $2,105,000 after acquiring an additional 3,265 shares during the period. Richmond Investment Services LLC lifted its holdings in U.S. Bancorp by 102.5% during the 2nd quarter. Richmond Investment Services LLC now owns 10,519 shares of the financial services provider’s stock valued at $476,000 after purchasing an additional 5,325 shares during the last quarter. Oak Associates Ltd. OH bought a new position in U.S. Bancorp during the second quarter worth $905,000. Finally, Verity & Verity LLC acquired a new position in shares of U.S. Bancorp in the second quarter valued at $267,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insiders Place Their Bets

In related news, Chairman Andrew Cecere sold 140,445 shares of the company’s stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $46.34, for a total transaction of $6,508,221.30. Following the completion of the sale, the chairman owned 1,360,414 shares of the company’s stock, valued at $63,041,584.76. This represents a 9.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP James L. Chosy sold 26,909 shares of the stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $46.86, for a total transaction of $1,260,955.74. Following the sale, the executive vice president owned 226,375 shares in the company, valued at $10,607,932.50. The trade was a 10.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Performance

Shares of NYSE:USB opened at $49.00 on Thursday. U.S. Bancorp has a 12-month low of $35.18 and a 12-month high of $53.98. The company’s 50 day moving average price is $47.53 and its two-hundred day moving average price is $46.44. The firm has a market cap of $76.17 billion, a PE ratio of 11.21, a PEG ratio of 1.25 and a beta of 1.10. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.10.

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

U.S. Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date was Tuesday, September 30th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.50. U.S. Bancorp’s dividend payout ratio is currently 47.60%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on USB shares. Weiss Ratings restated a “buy (b-)” rating on shares of U.S. Bancorp in a research note on Wednesday, October 8th. Morgan Stanley reissued a “positive” rating on shares of U.S. Bancorp in a report on Friday, October 17th. TD Cowen raised their price objective on shares of U.S. Bancorp from $59.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, October 20th. The Goldman Sachs Group set a $52.00 target price on U.S. Bancorp and gave the company a “neutral” rating in a research report on Friday, October 17th. Finally, Bank of America increased their target price on U.S. Bancorp from $54.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.45.

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.