Van ECK Associates Corp Raises Stock Holdings in U.S. Bancorp (NYSE:USB)

Van ECK Associates Corp raised its position in shares of U.S. Bancorp (NYSE:USB) by 3.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,941,642 shares of the financial services provider’s stock after purchasing an additional 264,264 shares during the quarter. Van ECK Associates Corp owned 0.57% of U.S. Bancorp worth $386,994,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. CGC Financial Services LLC purchased a new stake in U.S. Bancorp in the fourth quarter valued at approximately $25,000. BKM Wealth Management LLC purchased a new stake in shares of U.S. Bancorp in the 4th quarter valued at $26,000. Planned Solutions Inc. acquired a new stake in shares of U.S. Bancorp in the fourth quarter worth $27,000. Naples Money Management LLC purchased a new position in shares of U.S. Bancorp during the fourth quarter worth $30,000. Finally, Legacy Financial Group LLC acquired a new position in U.S. Bancorp during the third quarter valued at $30,000. 77.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Jefferies Financial Group increased their price target on U.S. Bancorp from $44.00 to $46.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. Evercore ISI raised their target price on U.S. Bancorp from $46.00 to $48.00 and gave the stock an “in-line” rating in a report on Thursday, March 28th. HSBC raised U.S. Bancorp from a “hold” rating to a “buy” rating and boosted their price target for the company from $47.00 to $53.00 in a report on Thursday, March 28th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $45.00 price objective (down previously from $52.00) on shares of U.S. Bancorp in a research report on Thursday, April 18th. Finally, Morgan Stanley lifted their target price on shares of U.S. Bancorp from $44.00 to $45.00 and gave the company an “equal weight” rating in a report on Tuesday, January 30th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, U.S. Bancorp presently has a consensus rating of “Hold” and a consensus target price of $46.14.

U.S. Bancorp Price Performance

USB traded up $0.18 on Monday, reaching $41.30. 4,648,438 shares of the company’s stock were exchanged, compared to its average volume of 8,657,484. U.S. Bancorp has a twelve month low of $27.27 and a twelve month high of $45.85. The stock has a market cap of $64.35 billion, a PE ratio of 13.68, a P/E/G ratio of 2.13 and a beta of 1.05. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.82 and a quick ratio of 0.81. The stock’s fifty day moving average price is $42.34 and its 200-day moving average price is $40.21.

U.S. Bancorp (NYSE:USB) last released its earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. U.S. Bancorp had a net margin of 12.13% and a return on equity of 13.93%. The business had revenue of $6.72 billion for the quarter, compared to analyst estimates of $6.71 billion. During the same period last year, the company posted $1.16 EPS. The business’s revenue was down 6.4% on a year-over-year basis. Sell-side analysts expect that U.S. Bancorp will post 3.86 EPS for the current year.

U.S. Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were issued a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 4.75%. The ex-dividend date of this dividend was Wednesday, March 27th. U.S. Bancorp’s payout ratio is currently 64.90%.

Insiders Place Their Bets

In other U.S. Bancorp news, insider Terrance R. Dolan sold 26,583 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly 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 is accessible through the SEC website. In other U.S. Bancorp news, EVP James L. Chosy sold 21,582 shares of U.S. Bancorp stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $41.47, for a total transaction of $895,005.54. Following the completion of the sale, the executive vice president now directly owns 164,880 shares in the company, valued at $6,837,573.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Terrance R. Dolan sold 26,583 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $43.37, for a total transaction of $1,152,904.71. Following the completion of the transaction, the insider now owns 144,236 shares in the company, valued at $6,255,515.32. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp 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.