Brookstone Capital Management Boosts Position in U.S. Bancorp $USB

Key Points

• Brookstone Capital Management increased its stake in U.S. Bancorp by 3.5%, owning 272,949 shares valued at approximately $12.35 million as of the latest SEC filing.
• U.S. Bancorp reported a quarterly EPS of $1.22, exceeding expectations, and announced an increased dividend of $0.52 per share, resulting in a 4.4% yield.
• Several analysts have upgraded their price targets for U.S. Bancorp, with the consensus rating now a "Moderate Buy" and a target price around $54.48.

Brookstone Capital Management lifted its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 3.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 272,949 shares of the financial services provider's stock after acquiring an additional 9,156 shares during the period. Brookstone Capital Management's holdings in U.S. Bancorp were worth $12,351,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of USB. IMG Wealth Management Inc. acquired a new stake in shares of U.S. Bancorp during the 2nd quarter worth about $25,000. Saudi Central Bank acquired a new stake in shares of U.S. Bancorp during the 1st quarter worth about $26,000. Westend Capital Management LLC acquired a new stake in shares of U.S. Bancorp during the 1st quarter worth about $27,000. YANKCOM Partnership increased its position in shares of U.S. Bancorp by 59.4% during the 1st quarter. YANKCOM Partnership now owns 698 shares of the financial services provider's stock worth $29,000 after purchasing an additional 260 shares during the last quarter. Finally, Alpine Bank Wealth Management acquired a new stake in shares of U.S. Bancorp during the 1st quarter worth about $30,000. Hedge funds and other institutional investors own 77.60% of the company's stock.

Wall Street Analyst Weigh In

USB has been the subject of a number of recent analyst reports. Bank of America raised their price objective on U.S. Bancorp from $54.00 to $55.00 and gave the stock a "buy" rating in a research report on Friday, October 17th. Morgan Stanley reissued a "positive" rating on shares of U.S. Bancorp in a research report on Friday, October 17th. The Goldman Sachs Group set a $52.00 price objective on U.S. Bancorp and gave the stock a "neutral" rating in a research report on Friday, October 17th. UBS Group lifted their target price on U.S. Bancorp from $49.00 to $50.00 and gave the company a "neutral" rating in a research report on Tuesday, October 7th. Finally, Citigroup lifted their target price on U.S. Bancorp from $65.00 to $70.00 and gave the company a "buy" rating in a research report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $54.48.

Insider Activity

In other news, EVP James L. Chosy sold 26,909 shares of U.S. Bancorp stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $46.86, for a total value of $1,260,955.74. Following the completion of the transaction, the executive vice president owned 226,375 shares in the company, valued at approximately $10,607,932.50. This trade represents a 10.62% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Andrew Cecere sold 140,445 shares of U.S. Bancorp stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $46.34, for a total value of $6,508,221.30. Following the completion of the transaction, the chairman owned 1,360,414 shares of the company's stock, valued at $63,041,584.76. The trade was a 9.36% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.23% of the company's stock.

U.S. Bancorp Stock Performance

Shares of USB opened at $47.30 on Thursday. The stock has a 50-day simple moving average of $48.03 and a 200-day simple moving average of $44.97. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market capitalization of $73.61 billion, a PE ratio of 10.82, a PEG ratio of 1.27 and a beta of 1.06. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $53.98.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.11. The business had revenue of $7.34 billion during the quarter, compared to analysts' expectations of $7.17 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.The business's quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.03 EPS. On average, analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.4%. The ex-dividend date was Tuesday, September 30th. This is a boost from U.S. Bancorp's previous quarterly dividend of $0.50. U.S. Bancorp's dividend payout ratio (DPR) is 47.60%.

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.

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