PFG Advisors Invests $254,000 in U.S. Bancorp (NYSE:USB)

PFG Advisors acquired a new position in shares of U.S. Bancorp (NYSE:USB) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 5,306 shares of the financial services provider’s stock, valued at approximately $254,000.

A number of other large investors have also modified their holdings of USB. State Street Corp increased its holdings in U.S. Bancorp by 1.2% in the third quarter. State Street Corp now owns 67,282,970 shares of the financial services provider’s stock valued at $3,110,115,000 after buying an additional 819,805 shares during the last quarter. FMR LLC increased its holdings in U.S. Bancorp by 32.7% in the third quarter. FMR LLC now owns 63,913,931 shares of the financial services provider’s stock valued at $2,922,784,000 after buying an additional 15,746,852 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in U.S. Bancorp by 5.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 49,789,725 shares of the financial services provider’s stock valued at $2,381,443,000 after buying an additional 2,460,845 shares during the last quarter. Geode Capital Management LLC increased its holdings in U.S. Bancorp by 1.8% in the third quarter. Geode Capital Management LLC now owns 33,086,597 shares of the financial services provider’s stock valued at $1,507,616,000 after buying an additional 599,852 shares during the last quarter. Finally, Amundi increased its holdings in U.S. Bancorp by 7.4% in the fourth quarter. Amundi now owns 19,485,615 shares of the financial services provider’s stock valued at $945,268,000 after buying an additional 1,341,407 shares during the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Price Performance

Shares of USB opened at $42.06 on Friday. U.S. Bancorp has a twelve month low of $37.81 and a twelve month high of $53.98. The stock’s 50 day moving average is $46.90 and its two-hundred day moving average is $47.78. The firm has a market capitalization of $65.53 billion, a PE ratio of 11.10, a P/E/G ratio of 1.73 and a beta of 1.02. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The company had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $7 billion. During the same period last year, the firm earned $0.99 EPS. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. Research analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.75%. U.S. Bancorp’s payout ratio is 52.77%.

Insider Activity

In other news, insider Jodi L. Richard sold 30,000 shares of U.S. Bancorp stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $47.59, for a total transaction of $1,427,700.00. Following the completion of the sale, the insider now directly owns 99,790 shares in the company, valued at approximately $4,749,006.10. This trade represents a 23.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Terrance R. Dolan sold 66,317 shares of U.S. Bancorp stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $46.96, for a total value of $3,114,246.32. Following the transaction, the insider now owns 209,482 shares of the company’s stock, valued at $9,837,274.72. This represents a 24.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 219,812 shares of company stock worth $10,385,665. Company insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Morgan Stanley dropped their target price on U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Compass Point upped their price objective on shares of U.S. Bancorp from $49.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Oppenheimer upped their price objective on shares of U.S. Bancorp from $62.00 to $63.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Raymond James upgraded shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price objective for the company in a research note on Thursday, December 19th. Finally, DA Davidson upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their price objective for the company from $58.00 to $60.00 in a research note on Thursday, January 2nd. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $54.21.

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.