U.S. Bancorp $USB Shares Acquired by Schulhoff & Co. Inc.

Schulhoff & Co. Inc. raised its stake in shares of U.S. Bancorp (NYSE:USB) by 0.3% during the second quarter, HoldingsChannel reports. The firm owned 94,304 shares of the financial services provider’s stock after purchasing an additional 263 shares during the quarter. U.S. Bancorp makes up about 1.9% of Schulhoff & Co. Inc.’s investment portfolio, making the stock its 12th largest position. Schulhoff & Co. Inc.’s holdings in U.S. Bancorp were worth $4,267,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the stock. IMG Wealth Management Inc. purchased a new position in U.S. Bancorp during the second quarter valued at $25,000. Saudi Central Bank purchased a new position in U.S. Bancorp during the first quarter valued at $26,000. Westend Capital Management LLC purchased a new position in U.S. Bancorp during the first quarter valued at $27,000. YANKCOM Partnership lifted its holdings in U.S. Bancorp by 59.4% during the first quarter. YANKCOM Partnership now owns 698 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 260 shares in the last quarter. Finally, Alpine Bank Wealth Management purchased a new position in shares of U.S. Bancorp in the first quarter worth about $30,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on USB. 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. Bank of America raised their price objective on shares of U.S. Bancorp from $54.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Citigroup raised their price objective on shares of U.S. Bancorp from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday. Evercore ISI raised their price objective on shares of U.S. Bancorp from $49.00 to $54.00 and gave the stock an “in-line” rating in a research report on Tuesday, September 30th. Finally, UBS Group raised their price objective on shares of U.S. Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $54.48.

U.S. Bancorp Trading Up 1.1%

NYSE USB opened at $47.64 on Wednesday. The firm has a 50 day simple moving average of $48.02 and a 200-day simple moving average of $44.95. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.82 and a current ratio of 0.82. U.S. Bancorp has a one year low of $35.18 and a one year high of $53.98. The firm has a market cap of $74.14 billion, a price-to-earnings ratio of 10.90, a PEG ratio of 1.27 and a beta of 1.06.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.22 EPS for the quarter, beating the consensus estimate 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 business had revenue of $7.34 billion during the quarter, compared to analyst estimates of $7.17 billion. During the same quarter last year, the firm posted $1.03 earnings per share. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. Equities research analysts anticipate that U.S. Bancorp will post 4.38 EPS 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. Stockholders of record on Tuesday, September 30th were given a dividend of $0.52 per share. The ex-dividend date was Tuesday, September 30th. This represents a $2.08 annualized dividend and a dividend yield of 4.4%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.50. U.S. Bancorp’s payout ratio is presently 47.60%.

Insider Activity at U.S. Bancorp

In other news, Chairman Andrew Cecere sold 140,445 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $63,041,584.76. The trade was a 9.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP James L. Chosy sold 26,909 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $10,607,932.50. This represents a 10.62% decrease in their position. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by insiders.

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.