Stablepoint Partners LLC Raises Stake in U.S. Bancorp $USB

Stablepoint Partners LLC grew its position in U.S. Bancorp (NYSE:USB) by 4.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,377 shares of the financial services provider’s stock after purchasing an additional 1,262 shares during the quarter. Stablepoint Partners LLC’s holdings in U.S. Bancorp were worth $1,465,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Brighton Jones LLC raised 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 valued at $2,309,000 after acquiring an additional 36,863 shares during the period. XTX Topco Ltd purchased a new stake in shares of U.S. Bancorp during the first quarter worth about $346,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in shares of U.S. Bancorp by 111.7% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 22,793 shares of the financial services provider’s stock worth $962,000 after purchasing an additional 12,026 shares in the last quarter. Alberta Investment Management Corp bought a new stake in U.S. Bancorp during the 1st quarter valued at approximately $2,428,000. Finally, Blueshift Asset Management LLC purchased a new position in U.S. Bancorp in the 1st quarter worth approximately $234,000. 77.60% of the stock is currently owned by institutional investors.

Insider Activity at U.S. Bancorp

In related news, EVP James L. Chosy sold 26,909 shares of the stock in a transaction on 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 approximately $10,607,932.50. This represents a 10.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Andrew Cecere sold 140,445 shares of the firm’s stock in a transaction on Monday, October 20th. The stock was sold at an average price of $46.34, for a total value 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 approximately $63,041,584.76. This represents a 9.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.23% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. UBS Group increased their price objective on shares of U.S. Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a report on Tuesday, October 7th. Deutsche Bank Aktiengesellschaft upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $52.50 target price for the company in a research report on Thursday, October 23rd. TD Cowen lifted their price target on shares of U.S. Bancorp from $59.00 to $60.00 and gave the company a “buy” rating in a report on Monday, October 20th. Wells Fargo & Company boosted their price target on shares of U.S. Bancorp from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Friday, October 17th. Finally, Morgan Stanley restated a “positive” rating on shares of U.S. Bancorp in a research report on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $54.45.

U.S. Bancorp Price Performance

USB stock opened at $49.00 on Friday. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $53.75. The firm has a market capitalization of $76.17 billion, a P/E ratio of 11.21, a price-to-earnings-growth ratio of 1.25 and a beta of 1.10. The company has a fifty day simple moving average of $47.48 and a two-hundred day simple moving average of $46.50. 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 posted its earnings results on Thursday, October 16th. The financial services provider reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.11. U.S. Bancorp had a net margin of 16.89% and a return on equity of 13.34%. The firm had revenue of $7.34 billion for the quarter, compared to the consensus estimate of $7.17 billion. During the same period in the previous year, the firm posted $1.03 EPS. The business’s quarterly revenue was up 6.8% on a year-over-year basis. Analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders 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 yield of 4.2%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.50. The ex-dividend date was Tuesday, September 30th. U.S. Bancorp’s dividend payout ratio (DPR) is currently 47.60%.

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.