Brookwood Investment Group LLC Makes New Investment in U.S. Bancorp (NYSE:USB)

Key Points

• Brookwood Investment Group LLC acquired 6,545 shares of U.S. Bancorp, valued at approximately $276,000, marking a new stake in the company during the first quarter.
• U.S. Bancorp's latest earnings report indicated an EPS of $1.11, exceeding analysts' expectations, with a year-over-year revenue growth of 2.0%.
• The financial services provider announced a quarterly dividend of $0.50 per share, representing an annualized dividend yield of 4.32%.

Brookwood Investment Group LLC bought a new position in shares of U.S. Bancorp (NYSE:USB - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,545 shares of the financial services provider's stock, valued at approximately $276,000.

Several other institutional investors have also recently made changes to their positions in the business. Brighton Jones LLC increased its holdings in U.S. Bancorp by 323.0% in the fourth quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider's stock valued at $2,309,000 after buying an additional 36,863 shares in the last quarter. Virtu Financial LLC purchased a new position in U.S. Bancorp in the fourth quarter valued at $288,000. Murphy & Mullick Capital Management Corp purchased a new position in U.S. Bancorp in the fourth quarter valued at $32,000. Financial Engines Advisors L.L.C. purchased a new position in U.S. Bancorp in the fourth quarter valued at $435,000. Finally, Korea Investment CORP increased its holdings in U.S. Bancorp by 74.1% in the fourth quarter. Korea Investment CORP now owns 1,321,709 shares of the financial services provider's stock valued at $63,217,000 after buying an additional 562,631 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company's stock.

U.S. Bancorp Trading Up 0.6%

Shares of USB stock traded up $0.26 during trading hours on Friday, hitting $46.32. The company had a trading volume of 8,082,037 shares, compared to its average volume of 12,850,706. The company's fifty day moving average is $44.99 and its 200 day moving average is $44.19. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.81 and a quick ratio of 0.81. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two week high of $53.98. The stock has a market capitalization of $72.16 billion, a PE ratio of 11.08, a price-to-earnings-growth ratio of 1.46 and a beta of 0.99.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its earnings results on Thursday, July 17th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.07 by $0.04. The company had revenue of $7.06 billion for the quarter, compared to analyst estimates of $7.07 billion. U.S. Bancorp had a net margin of 16.30% and a return on equity of 13.08%. The firm's quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.98 EPS. Research analysts expect that U.S. Bancorp will post 4.38 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 Tuesday, July 15th. Shareholders of record on Monday, June 30th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date was Monday, June 30th. U.S. Bancorp's dividend payout ratio is presently 47.85%.

Analysts Set New Price Targets

USB has been the subject of a number of recent analyst reports. Piper Sandler cut their price objective on shares of U.S. Bancorp from $49.00 to $48.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Citigroup boosted their target price on shares of U.S. Bancorp from $55.00 to $59.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. JPMorgan Chase & Co. reissued an "underweight" rating and set a $43.50 target price (down previously from $51.00) on shares of U.S. Bancorp in a research note on Thursday, April 3rd. Wall Street Zen raised shares of U.S. Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Finally, Evercore ISI boosted their target price on shares of U.S. Bancorp from $44.00 to $49.00 and gave the stock an "in-line" rating in a research note on Wednesday, June 4th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, U.S. Bancorp has an average rating of "Moderate Buy" and a consensus target price of $52.50.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, EVP Souheil Badran sold 23,727 shares of the stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $46.34, for a total value of $1,099,509.18. Following the sale, the executive vice president directly owned 70,346 shares of the company's stock, valued at approximately $3,259,833.64. This represents a 25.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.23% of the company's stock.

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.