Convergence Investment Partners LLC Purchases New Position in U.S. Bancorp (NYSE:USB)

Convergence Investment Partners LLC acquired a new position in U.S. Bancorp (NYSE:USB) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 51,096 shares of the financial services provider’s stock, valued at approximately $1,881,000.

A number of other institutional investors have also bought and sold shares of USB. Mosaic Family Wealth LLC grew its position in shares of U.S. Bancorp by 1.5% in the second quarter. Mosaic Family Wealth LLC now owns 19,357 shares of the financial services provider’s stock valued at $713,000 after purchasing an additional 294 shares in the last quarter. Laurel Wealth Advisors LLC grew its position in U.S. Bancorp by 3.6% during the first quarter. Laurel Wealth Advisors LLC now owns 8,614 shares of the financial services provider’s stock worth $297,000 after buying an additional 296 shares in the last quarter. First Horizon Advisors Inc. grew its position in U.S. Bancorp by 19.7% during the first quarter. First Horizon Advisors Inc. now owns 1,889 shares of the financial services provider’s stock worth $64,000 after buying an additional 311 shares in the last quarter. TCI Wealth Advisors Inc. grew its position in U.S. Bancorp by 4.8% during the first quarter. TCI Wealth Advisors Inc. now owns 6,962 shares of the financial services provider’s stock worth $240,000 after buying an additional 320 shares in the last quarter. Finally, Atwood & Palmer Inc. grew its position in U.S. Bancorp by 1.0% during the first quarter. Atwood & Palmer Inc. now owns 34,783 shares of the financial services provider’s stock worth $1,198,000 after buying an additional 350 shares in the last quarter. 73.54% of the stock is currently owned by institutional investors.

A number of equities analysts have recently issued reports on USB shares. Wolfe Research started coverage on U.S. Bancorp in a report on Friday. They issued an “outperform” rating for the company. Stephens cut their price objective on U.S. Bancorp from $47.00 to $41.00 and set an “equal weight” rating for the company in a report on Thursday, April 16th. Zacks Investment Research raised U.S. Bancorp from a “strong sell” rating to a “hold” rating and set a $31.00 target price for the company in a research note on Tuesday, June 2nd. Compass Point lowered their target price on U.S. Bancorp from $39.00 to $35.00 and set a “neutral” rating for the company in a research note on Wednesday, May 13th. Finally, Credit Suisse Group lowered their target price on U.S. Bancorp from $43.00 to $41.00 and set an “underperform” rating for the company in a research note on Monday, April 20th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $46.89.

Shares of USB stock traded down $0.07 during mid-day trading on Friday, reaching $36.84. 7,707,372 shares of the company’s stock traded hands, compared to its average volume of 6,725,943. U.S. Bancorp has a 12 month low of $28.36 and a 12 month high of $61.11. The company has a market cap of $55.60 billion, a P/E ratio of 10.98, a P/E/G ratio of 2.42 and a beta of 1.16. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 0.92. The company’s 50-day moving average price is $36.90 and its 200-day moving average price is $40.57.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.03. The company had revenue of $5.77 billion for the quarter, compared to analysts’ expectations of $5.54 billion. U.S. Bancorp had a net margin of 19.70% and a return on equity of 11.82%. U.S. Bancorp’s revenue was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.09 EPS. Equities analysts predict that U.S. Bancorp will post 2.54 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 4.56%. The ex-dividend date was Monday, June 29th. U.S. Bancorp’s payout ratio is 38.71%.

U.S. Bancorp Profile

U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.

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Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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