Community Bank of Raymore Acquires 52,800 Shares of U.S. Bancorp $USB

Key Points

• Community Bank of Raymore increased its U.S. Bancorp stake by 77.2%, buying 52,800 additional shares to reach 121,224 shares valued at approximately $7 million.
• Analysts maintain a “Moderate Buy” consensus on U.S. Bancorp, with an average price target of $69.19; ratings include 14 Buys, eight Holds and one Strong Buy.
• U.S. Bancorp exceeded quarterly earnings expectations with $1.34 in EPS and $8.04 billion in revenue, while raising its quarterly dividend to $0.54 per share, equivalent to a 3.6% yield.

Community Bank of Raymore increased its holdings in U.S. Bancorp (NYSE:USB - Free Report) by 77.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 121,224 shares of the financial services provider's stock after purchasing an additional 52,800 shares during the quarter. U.S. Bancorp accounts for about 3.9% of Community Bank of Raymore's holdings, making the stock its 6th largest holding. Community Bank of Raymore's holdings in U.S. Bancorp were worth $7,002,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of USB. Financial Life Planners purchased a new stake in shares of U.S. Bancorp in the first quarter valued at approximately $27,000. Main Street Group LTD purchased a new position in shares of U.S. Bancorp during the 1st quarter valued at approximately $28,000. Archer Investment Corp purchased a new position in shares of U.S. Bancorp during the 2nd quarter valued at approximately $29,000. Parvin Asset Management LLC purchased a new position in shares of U.S. Bancorp during the 2nd quarter valued at approximately $30,000. Finally, NFSG Corp acquired a new stake in U.S. Bancorp in the 1st quarter valued at $31,000. Hedge funds and other institutional investors own 77.60% of the company's stock.

Insider Activity at U.S. Bancorp

In other news, CEO Gunjan Kedia sold 27,267 shares of the firm's stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $62.37, for a total value of $1,700,642.79. Following the transaction, the chief executive officer directly owned 426,262 shares of the company's stock, valued at approximately $26,585,960.94. This trade represents a 6.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.21% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on USB. HSBC boosted their price target on shares of U.S. Bancorp from $74.00 to $76.00 and gave the stock a "buy" rating in a report on Monday, September 28th. The Goldman Sachs Group reiterated a "neutral" rating on shares of U.S. Bancorp in a research report on Thursday, October 15th. BTIG Research set a $67.50 target price on shares of U.S. Bancorp in a research note on Monday, July 20th. Raymond James Financial cut their target price on shares of U.S. Bancorp from $74.00 to $72.00 and set a "strong-buy" rating for the company in a research note on Tuesday, October 6th. Finally, Robert W. Baird upped their price target on shares of U.S. Bancorp from $64.00 to $68.00 and gave the stock a "neutral" rating in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat, U.S. Bancorp presently has a consensus rating of "Moderate Buy" and an average price target of $69.19.

U.S. Bancorp Stock Performance

Shares of NYSE:USB opened at $59.59 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.83 and a quick ratio of 0.83. U.S. Bancorp has a 1 year low of $45.02 and a 1 year high of $66.07. The firm has a market capitalization of $92.84 billion, a PE ratio of 11.62, a P/E/G ratio of 1.14 and a beta of 1.00. The business's 50 day moving average price is $60.25 and its 200-day moving average price is $59.25.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its quarterly earnings data on Thursday, October 15th. The financial services provider reported $1.34 EPS for the quarter, beating the consensus estimate of $1.32 by $0.02. The firm had revenue of $8.04 billion during the quarter, compared to the consensus estimate of $8 billion. U.S. Bancorp had a return on equity of 13.85% and a net margin of 18.85%. The firm's revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.22 EPS. As a group, equities research analysts expect that U.S. Bancorp will post 5.29 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.6%. This is a positive change from U.S. Bancorp's previous quarterly dividend of $0.52. The ex-dividend date was Wednesday, September 30th. U.S. Bancorp's dividend payout ratio (DPR) is currently 42.11%.

About U.S. Bancorp

U.S. Bancorp NYSE: USB is a financial services holding company headquartered in Minneapolis, Minnesota, and the parent company of U.S. Bank National Association. U.S. Bank provides banking, lending, payment, investment and wealth-management services to individuals, businesses, institutions and government entities.

The company's consumer and business banking operations offer deposit accounts, mortgages, home-equity and consumer loans, credit cards, small-business banking and commercial lending.

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