Foster & Motley Inc. Takes $2.97 Million Position in U.S. Bancorp $USB

Foster & Motley Inc. purchased a new position in shares of U.S. Bancorp (NYSE:USB) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 49,131 shares of the financial services provider’s stock, valued at approximately $2,968,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Commerzbank Aktiengesellschaft FI bought a new position in shares of U.S. Bancorp in the second quarter worth $10,490,000. Trust Co. of Vermont acquired a new stake in U.S. Bancorp during the second quarter worth about $3,845,000. Mufg Bank LTD. bought a new position in U.S. Bancorp in the 2nd quarter valued at about $2,680,199,000. Plato Investment Management Ltd acquired a new position in shares of U.S. Bancorp in the 2nd quarter valued at approximately $3,208,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of U.S. Bancorp in the 2nd quarter valued at approximately $536,457,000. Institutional investors own 77.60% of the company’s stock.

Analyst Upgrades and Downgrades

USB has been the topic of several analyst reports. DA Davidson increased their price target on shares of U.S. Bancorp from $72.00 to $74.00 and gave the stock a “buy” rating in a research report on Friday, July 17th. Barclays upped their target price on U.S. Bancorp from $67.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday, July 17th. BTIG Research set a $67.50 target price on U.S. Bancorp in a report on Monday, July 20th. Robert W. Baird lifted their price target on U.S. Bancorp from $64.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday, July 17th. Finally, Truist Financial boosted their price target on U.S. Bancorp from $66.00 to $69.00 and gave the stock a “buy” rating in a report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.06.

U.S. Bancorp Stock Down 0.1%

U.S. Bancorp stock opened at $64.83 on Wednesday. The firm has a 50 day moving average price of $62.13 and a two-hundred day moving average price of $57.51. U.S. Bancorp has a 52-week low of $45.02 and a 52-week high of $66.07. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.82 and a current ratio of 0.83. The firm has a market cap of $101.00 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 1.07 and a beta of 0.96.

U.S. Bancorp (NYSE:USB) last released its earnings results on Thursday, July 16th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.07. U.S. Bancorp had a net margin of 18.49% and a return on equity of 13.69%. The company had revenue of $7.69 billion for the quarter, compared to the consensus estimate of $7.58 billion. During the same quarter in the previous year, the company earned $1.11 EPS. Equities analysts predict that U.S. Bancorp will post 5.22 EPS for the current year.

U.S. Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a $0.52 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $2.08 annualized dividend and a dividend yield of 3.2%. U.S. Bancorp’s dividend payout ratio is currently 41.52%.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, insider Stephen L. Philipson sold 36,906 shares of the company’s stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $63.08, for a total value of $2,328,030.48. Following the completion of the sale, the insider directly owned 74,969 shares of the company’s stock, valued at approximately $4,729,044.52. This represents a 32.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.21% of the stock is currently owned by corporate insiders.

U.S. Bancorp Company 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.