Bearing Point Capital LLC Acquires 5,591 Shares of U.S. Bancorp (NYSE:USB)

Key Points

• Bearing Point Capital LLC has increased its position in U.S. Bancorp by 11.5%, owning 54,272 shares valued at approximately $2.29 million as of the latest reporting period.
• Analysts have set a consensus target price of $52.50 for U.S. Bancorp, with a majority assigning a "buy" rating, indicating positive sentiment towards the stock.
• U.S. Bancorp recently announced a quarterly dividend of $0.50, reflecting a 4.32% yield, with a payout ratio of 47.85%.

Bearing Point Capital LLC lifted its position in U.S. Bancorp (NYSE:USB - Free Report) by 11.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 54,272 shares of the financial services provider's stock after purchasing an additional 5,591 shares during the quarter. Bearing Point Capital LLC's holdings in U.S. Bancorp were worth $2,291,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in USB. Westend Capital Management LLC purchased a new position in U.S. Bancorp in the 1st quarter valued at approximately $27,000. REAP Financial Group LLC grew its holdings in U.S. Bancorp by 86.1% during the 4th quarter. REAP Financial Group LLC now owns 642 shares of the financial services provider's stock valued at $31,000 after buying an additional 297 shares during the last quarter. Murphy & Mullick Capital Management Corp acquired a new stake in U.S. Bancorp during the 4th quarter valued at $32,000. YANKCOM Partnership grew its holdings in U.S. Bancorp by 59.4% during the 1st quarter. YANKCOM Partnership now owns 698 shares of the financial services provider's stock valued at $29,000 after buying an additional 260 shares during the last quarter. Finally, Alpine Bank Wealth Management acquired a new stake in U.S. Bancorp during the 1st quarter valued at $30,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Stock Up 1.0%

NYSE USB traded up $0.48 during trading hours on Wednesday, reaching $46.57. 3,469,018 shares of the company's stock traded hands, compared to its average volume of 10,861,376. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market cap of $72.55 billion, a PE ratio of 11.13, a PEG ratio of 1.45 and a beta of 0.99. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $53.98. The firm has a 50-day simple moving average of $45.05 and a 200 day simple moving average of $44.16.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its earnings results on Thursday, July 17th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.04. U.S. Bancorp had a net margin of 16.30% and a return on equity of 13.08%. The company had revenue of $7.06 billion during the quarter, compared to analyst estimates of $7.07 billion. During the same period in the previous year, the business posted $0.98 earnings per share. The firm's quarterly revenue was up 2.0% compared to the same quarter last year. Sell-side analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.30%. The ex-dividend date of this dividend was Monday, June 30th. U.S. Bancorp's dividend payout ratio (DPR) is presently 47.85%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Keefe, Bruyette & Woods reduced their target price on U.S. Bancorp from $54.00 to $49.00 and set a "market perform" rating on the stock in a report on Thursday, April 17th. Cowen initiated coverage on U.S. Bancorp in a research report on Wednesday, May 14th. They set a "buy" rating for the company. DA Davidson upped their target price on U.S. Bancorp from $49.00 to $52.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. 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, Piper Sandler dropped their price target on shares of U.S. Bancorp from $49.00 to $48.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $52.55.

Insider Transactions at U.S. Bancorp

In related news, EVP Souheil Badran sold 23,727 shares of the company's stock in a transaction on Monday, July 21st. The shares were sold at an average price of $46.34, for a total transaction of $1,099,509.18. Following the sale, the executive vice president owned 70,346 shares of the company's stock, valued at $3,259,833.64. This represents a 25.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.23% of the stock is currently owned by insiders.

U.S. Bancorp Profile

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.