Morningstar Investment Management LLC Increases Position in U.S. Bancorp $USB

Morningstar Investment Management LLC lifted its holdings in U.S. Bancorp (NYSE:USB) by 25.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 101,269 shares of the financial services provider’s stock after purchasing an additional 20,746 shares during the quarter. Morningstar Investment Management LLC’s holdings in U.S. Bancorp were worth $5,404,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of USB. Guerra Advisors Inc purchased a new position in shares of U.S. Bancorp in the 3rd quarter valued at about $25,000. Financial Life Planners purchased a new position in shares of U.S. Bancorp in the 3rd quarter valued at about $25,000. Clayton Financial Group LLC purchased a new position in shares of U.S. Bancorp in the 4th quarter valued at about $25,000. JPL Wealth Management LLC purchased a new position in shares of U.S. Bancorp in the 3rd quarter valued at about $28,000. Finally, Binnacle Investments Inc increased its stake in shares of U.S. Bancorp by 77.8% in the 3rd quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 273 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Price Performance

NYSE:USB opened at $54.85 on Monday. U.S. Bancorp has a 12 month low of $42.21 and a 12 month high of $61.19. The stock has a 50 day moving average of $54.07 and a two-hundred day moving average of $53.69. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.03. The firm has a market cap of $85.14 billion, a P/E ratio of 11.50, a price-to-earnings-growth ratio of 0.99 and a beta of 1.00.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Thursday, April 16th. The financial services provider reported $1.18 EPS for the quarter, topping the consensus estimate of $1.14 by $0.04. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.The company had revenue of $7.32 billion during the quarter, compared to analyst estimates of $7.27 billion. During the same period in the previous year, the business earned $1.03 EPS. U.S. Bancorp’s quarterly revenue was up 4.7% on a year-over-year basis. On average, analysts expect that U.S. Bancorp will post 5.09 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 3.8%. The ex-dividend date was Tuesday, March 31st. U.S. Bancorp’s payout ratio is 43.61%.

Wall Street Analysts Forecast Growth

USB has been the subject of several recent analyst reports. Jefferies Financial Group restated a “hold” rating and issued a $60.00 price target on shares of U.S. Bancorp in a research note on Thursday, April 16th. Morgan Stanley set a $64.00 price target on U.S. Bancorp in a research note on Friday, April 17th. Evercore lifted their price target on U.S. Bancorp from $60.00 to $65.00 and gave the company an “in-line” rating in a research note on Thursday, February 5th. JPMorgan Chase & Co. cut their price target on U.S. Bancorp from $58.00 to $57.50 and set an “underweight” rating for the company in a research note on Thursday, April 30th. Finally, DA Davidson reiterated a “buy” rating and set a $65.00 price objective on shares of U.S. Bancorp in a research note on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $61.20.

Insider Activity at U.S. Bancorp

In other news, insider Jodi L. Richard sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total value of $2,280,000.00. Following the completion of the sale, the insider directly owned 207,251 shares in the company, valued at $11,813,307. This represents a 16.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Venkatachari Dilip sold 34,522 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total value of $1,916,661.44. Following the completion of the sale, the executive vice president owned 51,292 shares of the company’s stock, valued at $2,847,731.84. This trade represents a 40.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is currently owned by insiders.

U.S. Bancorp Profile

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.