6,084 Shares in U.S. Bancorp (NYSE:USB) Purchased by TruNorth Capital Management LLC

TruNorth Capital Management LLC acquired a new position in shares of U.S. Bancorp (NYSE:USB - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 6,084 shares of the financial services provider's stock, valued at approximately $257,000.

Other hedge funds have also bought and sold shares of the company. Picton Mahoney Asset Management bought a new stake in U.S. Bancorp during the fourth quarter worth about $30,000. Westend Capital Management LLC bought a new stake in U.S. Bancorp during the first quarter worth about $27,000. REAP Financial Group LLC boosted its stake in U.S. Bancorp by 86.1% during the fourth quarter. REAP Financial Group LLC now owns 642 shares of the financial services provider's stock worth $31,000 after acquiring an additional 297 shares in the last quarter. Millstone Evans Group LLC bought a new stake in U.S. Bancorp during the fourth quarter worth about $31,000. Finally, Murphy & Mullick Capital Management Corp bought a new stake in U.S. Bancorp during the fourth quarter worth about $32,000. Institutional investors own 77.60% of the company's stock.

Insider Buying and Selling

In other U.S. Bancorp news, Director Aleem Gillani bought 5,000 shares of U.S. Bancorp stock in a transaction on Monday, April 21st. The stock was acquired at an average cost of $37.32 per share, with a total value of $186,600.00. Following the completion of the acquisition, the director owned 15,000 shares in the company, valued at approximately $559,800. This represents a 50.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.23% of the company's stock.

Wall Street Analyst Weigh In

USB has been the topic of several research reports. Keefe, Bruyette & Woods dropped their price objective on shares of U.S. Bancorp from $54.00 to $49.00 and set a "market perform" rating on the stock in a research note on Thursday, April 17th. Truist Financial upped their target price on shares of U.S. Bancorp from $48.00 to $50.00 and gave the stock a "hold" rating in a research note on Wednesday. DA Davidson dropped their target price on shares of U.S. Bancorp from $54.00 to $49.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. JPMorgan Chase & Co. reiterated an "underweight" rating and issued a $43.50 target price (down previously from $51.00) on shares of U.S. Bancorp in a research note on Thursday, April 3rd. Finally, Morgan Stanley upped their target price on shares of U.S. Bancorp from $50.00 to $51.00 and gave the stock an "overweight" rating in a research note on Thursday, July 3rd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $51.70.

U.S. Bancorp Stock Down 0.9%

Shares of U.S. Bancorp stock opened at $47.13 on Friday. The company has a market cap of $73.43 billion, a price-to-earnings ratio of 11.67, a price-to-earnings-growth ratio of 1.78 and a beta of 0.99. The company's 50 day moving average is $44.39 and its 200 day moving average is $44.36. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $53.98. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.11.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share for the quarter, beating analysts' consensus estimates of $0.97 by $0.06. U.S. Bancorp had a net margin of 15.70% and a return on equity of 13.02%. The company had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $6.92 billion. During the same quarter in the prior year, the firm earned $0.78 earnings per share. Research analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a dividend of $0.50 per share. The ex-dividend date is Monday, June 30th. This represents a $2.00 dividend on an annualized basis and a yield of 4.24%. U.S. Bancorp's dividend payout ratio is currently 49.50%.

About U.S. Bancorp

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.

Want to see what other hedge funds are holding USB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for U.S. Bancorp (NYSE:USB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.