Keel Point LLC Makes New $276,000 Investment in U.S. Bancorp (NYSE:USB)

Keel Point LLC purchased a new position in shares of U.S. Bancorp (NYSE:USB) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,376 shares of the financial services provider’s stock, valued at approximately $276,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Cornercap Investment Counsel Inc. boosted its position in U.S. Bancorp by 2.7% during the fourth quarter. Cornercap Investment Counsel Inc. now owns 45,042 shares of the financial services provider’s stock valued at $1,949,000 after purchasing an additional 1,199 shares in the last quarter. Strs Ohio boosted its stake in U.S. Bancorp by 13.9% in the fourth quarter. Strs Ohio now owns 610,635 shares of the financial services provider’s stock valued at $26,428,000 after acquiring an additional 74,738 shares in the last quarter. Carnegie Capital Asset Management LLC increased its position in shares of U.S. Bancorp by 7.4% during the fourth quarter. Carnegie Capital Asset Management LLC now owns 171,683 shares of the financial services provider’s stock worth $7,430,000 after purchasing an additional 11,864 shares in the last quarter. Louisiana State Employees Retirement System purchased a new stake in shares of U.S. Bancorp during the 4th quarter valued at $4,073,000. Finally, Lauer Wealth LLC increased its position in U.S. Bancorp by 8.1% during the 4th quarter. Lauer Wealth LLC now owns 10,016 shares of the financial services provider’s stock valued at $418,000 after buying an additional 751 shares in the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Price Performance

Shares of USB stock opened at $40.99 on Wednesday. The firm’s 50-day moving average is $42.34 and its two-hundred day moving average is $39.72. U.S. Bancorp has a 12 month low of $27.27 and a 12 month high of $45.85. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market capitalization of $63.87 billion, a PE ratio of 12.50, a price-to-earnings-growth ratio of 2.14 and a beta of 1.05.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, January 17th. The financial services provider reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.28. U.S. Bancorp had a net margin of 13.36% and a return on equity of 14.89%. The company had revenue of $6.76 billion during the quarter, compared to analyst estimates of $6.85 billion. During the same quarter last year, the firm posted $1.20 earnings per share. U.S. Bancorp’s revenue was up 6.2% compared to the same quarter last year. Analysts predict that U.S. Bancorp will post 3.87 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were paid a dividend of $0.49 per share. The ex-dividend date was Wednesday, March 27th. This represents a $1.96 annualized dividend and a yield of 4.78%. U.S. Bancorp’s payout ratio is 59.76%.

Insider Transactions at U.S. Bancorp

In other news, EVP James L. Chosy sold 21,582 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $41.47, for a total value of $895,005.54. Following the transaction, the executive vice president now owns 164,880 shares in the company, valued at approximately $6,837,573.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Terrance R. Dolan sold 26,583 shares of the firm’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $43.37, for a total value of $1,152,904.71. Following the completion of the sale, the insider now owns 144,236 shares in the company, valued at approximately $6,255,515.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP James L. Chosy sold 21,582 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $41.47, for a total value of $895,005.54. Following the transaction, the executive vice president now directly owns 164,880 shares of the company’s stock, valued at $6,837,573.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 60,265 shares of company stock valued at $2,535,903. 0.23% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on USB shares. UBS Group upped their price objective on shares of U.S. Bancorp from $35.00 to $48.00 and gave the company a “neutral” rating in a report on Wednesday, January 17th. Compass Point raised U.S. Bancorp from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $46.00 to $49.00 in a research report on Friday, March 22nd. The Goldman Sachs Group increased their price objective on U.S. Bancorp from $37.00 to $42.00 and gave the company a “neutral” rating in a report on Tuesday, December 19th. HSBC raised U.S. Bancorp from a “hold” rating to a “buy” rating and lifted their target price for the stock from $47.00 to $53.00 in a report on Thursday, March 28th. Finally, Stephens cut shares of U.S. Bancorp from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, December 20th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $47.41.

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.