Gilbert & Cook Inc. boosted its stake in U.S. Bancorp (NYSE:USB) by 3.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,626 shares of the financial services provider’s stock after purchasing an additional 269 shares during the period. Gilbert & Cook Inc.’s holdings in U.S. Bancorp were worth $422,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Manchester Financial Inc. acquired a new stake in U.S. Bancorp during the 2nd quarter worth about $30,000. Lenox Wealth Advisors LLC acquired a new stake in U.S. Bancorp during the 3rd quarter worth about $33,000. Bridger Capital Management LLC acquired a new stake in U.S. Bancorp during the 3rd quarter worth about $33,000. Hillsdale Investment Management Inc. acquired a new stake in shares of U.S. Bancorp in the 2nd quarter valued at about $37,000. Finally, Prime Capital Investment Advisors LLC grew its stake in shares of U.S. Bancorp by 174.0% in the 2nd quarter. Prime Capital Investment Advisors LLC now owns 707 shares of the financial services provider’s stock valued at $37,000 after buying an additional 449 shares during the period. Institutional investors and hedge funds own 75.50% of the company’s stock.
In other U.S. Bancorp news, Director David B. Omaley sold 10,133 shares of U.S. Bancorp stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $55.76, for a total transaction of $565,016.08. Following the transaction, the director now owns 191,754 shares of the company’s stock, valued at approximately $10,692,203.04. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Gillern Jeffry H. Von sold 5,357 shares of U.S. Bancorp stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $56.67, for a total transaction of $303,581.19. Following the transaction, the insider now directly owns 89,301 shares in the company, valued at approximately $5,060,687.67. The disclosure for this sale can be found here. 0.24% of the stock is owned by company insiders.
U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $1.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.04. U.S. Bancorp had a net margin of 26.54% and a return on equity of 15.39%. The firm had revenue of $5.92 billion for the quarter, compared to analysts’ expectations of $5.81 billion. During the same quarter last year, the firm earned $1.06 EPS. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. Analysts predict that U.S. Bancorp will post 4.33 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $1.68 annualized dividend and a dividend yield of 2.85%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.37. U.S. Bancorp’s dividend payout ratio (DPR) is currently 40.98%.
Several analysts have recently commented on USB shares. UBS Group raised their target price on U.S. Bancorp from $56.00 to $58.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. Credit Suisse Group reaffirmed a “hold” rating and issued a $55.00 price target on shares of U.S. Bancorp in a research report on Thursday, September 12th. Bank of America cut shares of U.S. Bancorp from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $55.00 to $53.00 in a research report on Monday, September 30th. JPMorgan Chase & Co. raised their price target on shares of U.S. Bancorp from $55.50 to $58.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Finally, Wedbush raised their price target on shares of U.S. Bancorp from $46.00 to $49.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $56.67.
U.S. Bancorp Company 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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