231,905 U.S. Bancorp $USB Shares Acquired by Brookstone Capital Management

Key Points

• Brookstone Capital Management increased its U.S. Bancorp stake by 346.3% in the third quarter, acquiring 231,905 shares and bringing its holdings to 298,880 shares valued at approximately $17.3 million.
• Analysts maintain a “Moderate Buy” consensus on U.S. Bancorp, with an average price target of $69.19; the company also exceeded quarterly earnings expectations and reported 8.7% year-over-year revenue growth.
• U.S. Bancorp raised its quarterly dividend to $0.54 per share, equivalent to an annualized $2.16 dividend and a 3.6% yield, while CEO Gunjan Kedia sold 27,267 shares.

Brookstone Capital Management increased its holdings in U.S. Bancorp (NYSE:USB - Free Report) by 346.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 298,880 shares of the financial services provider's stock after buying an additional 231,905 shares during the period. Brookstone Capital Management's holdings in U.S. Bancorp were worth $17,263,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mufg Bank LTD. acquired a new position in shares of U.S. Bancorp during the 2nd quarter worth approximately $2,680,199,000. Bank of America Corp DE raised its position in shares of U.S. Bancorp by 6.9% in the first quarter. Bank of America Corp DE now owns 15,820,033 shares of the financial services provider's stock valued at $822,800,000 after buying an additional 1,022,898 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of U.S. Bancorp by 0.9% during the first quarter. Dimensional Fund Advisors LP now owns 10,369,212 shares of the financial services provider's stock valued at $539,232,000 after buying an additional 93,025 shares during the period. Bank of New York Mellon Corp purchased a new position in shares of U.S. Bancorp during the second quarter valued at approximately $536,457,000. Finally, First Trust Advisors LP lifted its stake in shares of U.S. Bancorp by 39.9% during the first quarter. First Trust Advisors LP now owns 8,118,845 shares of the financial services provider's stock valued at $422,261,000 after buying an additional 2,314,081 shares during the period. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Gunjan Kedia sold 27,267 shares of the stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $62.37, for a total transaction of $1,700,642.79. Following the completion of the transaction, the chief executive officer directly owned 426,262 shares in the company, valued at approximately $26,585,960.94. This represents a 6.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.21% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on USB. CLSA set a $67.50 target price on U.S. Bancorp in a research report on Monday, July 20th. UBS Group decreased their price target on shares of U.S. Bancorp from $66.00 to $64.00 and set a "neutral" rating on the stock in a report on Monday, October 5th. Robert W. Baird upped their price objective on U.S. Bancorp from $64.00 to $68.00 and gave the stock a "neutral" rating in a report on Friday, July 17th. Wells Fargo & Company increased their target price on U.S. Bancorp from $66.00 to $69.00 and gave the stock an "overweight" rating in a research report on Friday, July 17th. Finally, Keefe, Bruyette & Woods lifted their target price on U.S. Bancorp from $63.00 to $66.00 and gave the company a "market perform" rating in a report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $69.19.

U.S. Bancorp Stock Performance

U.S. Bancorp stock opened at $59.96 on Friday. The stock's 50 day moving average price is $60.37 and its 200 day moving average price is $59.25. The firm has a market capitalization of $93.42 billion, a PE ratio of 11.51, a price-to-earnings-growth ratio of 1.13 and a beta of 1.00. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.83 and a current ratio of 0.83. U.S. Bancorp has a one year low of $45.02 and a one year high of $66.07.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its quarterly earnings results on Thursday, October 15th. The financial services provider reported $1.34 earnings per share for the quarter, topping analysts' consensus estimates of $1.32 by $0.02. U.S. Bancorp had a return on equity of 13.85% and a net margin of 18.85%. The firm had revenue of $8.04 billion during the quarter, compared to analysts' expectations of $8 billion. During the same quarter in the prior year, the business earned $1.22 EPS. U.S. Bancorp's quarterly revenue was up 8.7% compared to the same quarter last year. As a group, sell-side analysts expect that U.S. Bancorp will post 5.29 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were paid a dividend of $0.54 per share. This is a boost from U.S. Bancorp's previous quarterly dividend of $0.52. The ex-dividend date was Wednesday, September 30th. This represents a $2.16 dividend on an annualized basis and a yield of 3.6%. U.S. Bancorp's payout ratio is 42.11%.

U.S. Bancorp Company Profile

U.S. Bancorp NYSE: USB is a financial services holding company headquartered in Minneapolis, Minnesota, and the parent company of U.S. Bank National Association. U.S. Bank provides banking, lending, payment, investment and wealth-management services to individuals, businesses, institutions and government entities.

The company's consumer and business banking operations offer deposit accounts, mortgages, home-equity and consumer loans, credit cards, small-business banking and commercial lending.

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