Okabena Investment Services Inc. Invests $800,000 in U.S. Bancorp $USB

Okabena Investment Services Inc. purchased a new stake in shares of U.S. Bancorp (NYSE:USB) in the 3rd quarter, HoldingsChannel.com reports. The firm purchased 16,548 shares of the financial services provider’s stock, valued at approximately $800,000.

A number of other large investors have also added to or reduced their stakes in USB. Guerra Advisors Inc bought a new position in shares of U.S. Bancorp during the 3rd quarter valued at approximately $25,000. Barnes Dennig Private Wealth Management LLC purchased a new position in U.S. Bancorp in the third quarter valued at approximately $26,000. Hillsdale Investment Management Inc. bought a new position in U.S. Bancorp during the second quarter valued at $27,000. Steigerwald Gordon & Koch Inc. bought a new position in U.S. Bancorp during the third quarter valued at $31,000. Finally, Pineridge Advisors LLC increased its position in U.S. Bancorp by 446.2% in the second quarter. Pineridge Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after buying an additional 522 shares during the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. TD Cowen upped their price target on U.S. Bancorp from $65.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, January 21st. Oppenheimer increased their price objective on U.S. Bancorp from $75.00 to $77.00 and gave the stock an “outperform” rating in a report on Wednesday, January 21st. UBS Group reaffirmed a “neutral” rating and set a $60.00 target price on shares of U.S. Bancorp in a report on Wednesday, February 4th. Barclays increased their price target on shares of U.S. Bancorp from $56.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of U.S. Bancorp from $58.00 to $59.00 and gave the company a “market perform” rating in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $60.02.

U.S. Bancorp Price Performance

Shares of NYSE USB opened at $54.57 on Friday. The firm has a market capitalization of $84.78 billion, a P/E ratio of 11.81, a P/E/G ratio of 0.98 and a beta of 1.06. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The stock’s 50-day simple moving average is $56.17 and its two-hundred day simple moving average is $51.19. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $61.19.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Tuesday, January 20th. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.07. U.S. Bancorp had a return on equity of 13.48% and a net margin of 17.66%.The firm had revenue of $7.92 billion during the quarter, compared to the consensus estimate of $7.31 billion. During the same quarter last year, the company posted $1.07 EPS. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, equities analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were given a dividend of $0.52 per share. The ex-dividend date was Wednesday, December 31st. This represents a $2.08 annualized dividend and a yield of 3.8%. U.S. Bancorp’s payout ratio is presently 45.02%.

Insider Buying and Selling

In other news, insider Mark G. Runkel sold 32,195 shares of the stock in a transaction on Friday, February 6th. The shares were sold at an average price of $60.65, for a total value of $1,952,626.75. Following the transaction, the insider owned 97,728 shares of the company’s stock, valued at $5,927,203.20. This represents a 24.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.23% of the stock is currently owned by corporate insiders.

About U.S. Bancorp

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.