Brookstone Capital Management Has $11.14 Million Stock Position in U.S. Bancorp (NYSE:USB)

Brookstone Capital Management grew its holdings in U.S. Bancorp (NYSE:USB - Free Report) by 7.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 263,793 shares of the financial services provider's stock after acquiring an additional 19,105 shares during the quarter. Brookstone Capital Management's holdings in U.S. Bancorp were worth $11,137,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Norges Bank bought a new stake in U.S. Bancorp during the fourth quarter worth about $777,524,000. Invesco Ltd. increased its position in shares of U.S. Bancorp by 48.1% during the 4th quarter. Invesco Ltd. now owns 16,787,513 shares of the financial services provider's stock worth $802,947,000 after purchasing an additional 5,449,949 shares during the last quarter. Marshall Wace LLP increased its position in shares of U.S. Bancorp by 414.1% during the 4th quarter. Marshall Wace LLP now owns 5,789,565 shares of the financial services provider's stock worth $276,915,000 after purchasing an additional 4,663,518 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of U.S. Bancorp during the 4th quarter worth approximately $184,733,000. Finally, FMR LLC boosted its holdings in shares of U.S. Bancorp by 5.0% in the 4th quarter. FMR LLC now owns 67,125,746 shares of the financial services provider's stock valued at $3,210,624,000 after buying an additional 3,211,815 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on USB shares. Wall Street Zen lowered shares of U.S. Bancorp from a "hold" rating to a "sell" rating in a research report on Saturday, June 7th. The Goldman Sachs Group upped their target price on shares of U.S. Bancorp from $41.00 to $46.00 and gave the company a "neutral" rating in a report on Tuesday, June 10th. Truist Financial reduced their price target on U.S. Bancorp from $51.00 to $48.00 and set a "hold" rating for the company in a report on Thursday, April 17th. Wells Fargo & Company lowered their price target on U.S. Bancorp from $56.00 to $50.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Finally, Piper Sandler cut their price objective on U.S. Bancorp from $49.00 to $48.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, U.S. Bancorp currently has a consensus rating of "Moderate Buy" and a consensus price target of $51.34.

U.S. Bancorp Trading Up 0.5%

U.S. Bancorp stock traded up $0.24 during trading hours on Friday, hitting $47.73. The stock had a trading volume of 7,036,266 shares, compared to its average volume of 9,331,398. The business's 50 day simple moving average is $43.70 and its 200-day simple moving average is $44.41. U.S. Bancorp has a one year low of $35.18 and a one year high of $53.98. The stock has a market cap of $74.36 billion, a price-to-earnings ratio of 11.81, a P/E/G ratio of 1.80 and a beta of 0.99. 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 (EPS) for the quarter, beating analysts' consensus estimates of $0.97 by $0.06. The business had revenue of $6.96 billion during the quarter, compared to analyst estimates of $6.92 billion. U.S. Bancorp had a net margin of 15.70% and a return on equity of 13.02%. During the same quarter last year, the business earned $0.78 EPS. On average, equities analysts predict that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a $0.50 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.19%. U.S. Bancorp's dividend payout ratio (DPR) is presently 49.50%.

Insider Activity at U.S. Bancorp

In related news, Director Aleem Gillani acquired 5,000 shares of the stock in a transaction dated Monday, April 21st. The stock was bought at an average cost of $37.32 per share, for a total transaction of $186,600.00. Following the completion of the transaction, the director directly owned 15,000 shares of the company's stock, valued at $559,800. The trade was a 50.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company 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.