Hunter Perkins Capital Management LLC purchased a new stake in U.S. Bancorp (NYSE:USB) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 10,000 shares of the financial services provider’s stock, valued at approximately $553,000.
A number of other hedge funds and other institutional investors also recently bought and sold shares of USB. Vantage Consulting Group Inc acquired a new stake in U.S. Bancorp during the fourth quarter worth about $27,000. Field & Main Bank acquired a new stake in shares of U.S. Bancorp during the 4th quarter worth approximately $27,000. Diversified LLC bought a new stake in shares of U.S. Bancorp during the fourth quarter valued at approximately $28,000. Salem Investment Counselors Inc. raised its stake in shares of U.S. Bancorp by 92.3% in the fourth quarter. Salem Investment Counselors Inc. now owns 600 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 288 shares in the last quarter. Finally, Jeppson Wealth Management LLC bought a new position in U.S. Bancorp in the third quarter worth $31,000. Institutional investors own 71.73% of the company’s stock.
USB has been the topic of several recent research reports. Odeon Capital Group upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating in a research report on Wednesday, March 24th. Jefferies Financial Group lifted their price objective on U.S. Bancorp from $55.00 to $66.00 and gave the company a “buy” rating in a report on Friday, April 9th. Morgan Stanley increased their target price on shares of U.S. Bancorp from $58.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 22nd. Bank of America upgraded shares of U.S. Bancorp from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $58.00 to $62.00 in a research report on Monday, April 19th. Finally, Stephens raised their price objective on shares of U.S. Bancorp from $52.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday, March 30th. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $56.15.
U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Wednesday, April 14th. The financial services provider reported $1.45 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.49. The business had revenue of $5.47 billion for the quarter, compared to analyst estimates of $5.53 billion. U.S. Bancorp had a return on equity of 10.99% and a net margin of 18.68%. U.S. Bancorp’s revenue was down 5.2% compared to the same quarter last year. During the same period last year, the firm posted $0.72 earnings per share. On average, equities analysts predict that U.S. Bancorp will post 3.06 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 15th. Investors of record on Wednesday, March 31st were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date of this dividend was Tuesday, March 30th. U.S. Bancorp’s dividend payout ratio is 38.71%.
In other news, CEO Andrew Cecere sold 184,187 shares of the business’s stock in a transaction dated Thursday, April 22nd. The stock was sold at an average price of $56.48, for a total transaction of $10,402,881.76. Following the sale, the chief executive officer now directly owns 1,037,110 shares in the company, valued at $58,575,972.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Mark G. Runkel sold 9,058 shares of the company’s stock in a transaction that occurred on Wednesday, April 21st. The shares were sold at an average price of $56.85, for a total value of $514,947.30. Following the completion of the transaction, the executive vice president now directly owns 36,572 shares of the company’s stock, valued at approximately $2,079,118.20. The disclosure for this sale can be found here. In the last three months, insiders sold 251,779 shares of company stock valued at $14,319,060. 0.23% of the stock is owned by insiders.
U.S. Bancorp Profile
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments. The company offers depository services, including checking accounts, savings accounts, and time certificate contracts; lending services, such as traditional credit products; and credit card services, lease financing and import/export trade, asset-backed lending, agricultural finance, and other products.
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