Corundum Group Inc. Sells 15,631 Shares of U.S. Bancorp (NYSE:USB)

Corundum Group Inc. decreased its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 35.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 28,022 shares of the financial services provider's stock after selling 15,631 shares during the quarter. Corundum Group Inc.'s holdings in U.S. Bancorp were worth $1,183,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. MOKAN Wealth Management Inc. bought a new stake in shares of U.S. Bancorp in the 1st quarter valued at about $559,000. Lecap Asset Management Ltd. acquired a new position in U.S. Bancorp in the 1st quarter valued at $863,000. Steph & Co. increased its stake in U.S. Bancorp by 11.2% during the 1st quarter. Steph & Co. now owns 17,941 shares of the financial services provider's stock worth $757,000 after acquiring an additional 1,813 shares during the period. Field & Main Bank lifted its holdings in shares of U.S. Bancorp by 4.9% during the 1st quarter. Field & Main Bank now owns 23,858 shares of the financial services provider's stock worth $1,007,000 after acquiring an additional 1,125 shares during the period. Finally, Archford Capital Strategies LLC grew its holdings in shares of U.S. Bancorp by 11.4% during the 1st quarter. Archford Capital Strategies LLC now owns 7,978 shares of the financial services provider's stock valued at $337,000 after purchasing an additional 817 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors.

U.S. Bancorp Stock Performance

Shares of NYSE:USB traded up $0.82 during mid-day trading on Thursday, reaching $45.64. 13,401,309 shares of the company traded hands, compared to its average volume of 9,218,844. The company's 50 day moving average price is $42.63 and its 200-day moving average price is $44.62. The firm has a market cap of $71.11 billion, a PE ratio of 11.30, a PEG ratio of 1.69 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 company has a debt-to-equity ratio of 1.11, a current ratio of 0.80 and a quick ratio of 0.80.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $1.03 EPS for the quarter, beating the consensus estimate of $0.97 by $0.06. U.S. Bancorp had a net margin of 15.70% and a return on equity of 13.02%. The firm had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $6.92 billion. During the same period last year, the firm earned $0.78 EPS. On average, equities analysts expect that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a dividend of $0.50 per share. The ex-dividend date is Monday, June 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.38%. U.S. Bancorp's payout ratio is 49.50%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Cowen initiated coverage on U.S. Bancorp in a research report on Wednesday, May 14th. They issued a "buy" rating for the company. Piper Sandler dropped their price objective on shares of U.S. Bancorp from $49.00 to $48.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. TD Cowen began coverage on shares of U.S. Bancorp in a research note on Thursday, May 15th. They issued a "buy" rating and a $60.00 target price on the stock. Oppenheimer boosted their price target on shares of U.S. Bancorp from $57.00 to $59.00 and gave the stock an "outperform" rating in a research note on Monday, April 28th. Finally, Evercore ISI increased their price target on shares of U.S. Bancorp from $44.00 to $49.00 and gave the company an "in-line" rating in a research report on Wednesday, June 4th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $50.72.

Insider Transactions at U.S. Bancorp

In other news, Director Aleem Gillani acquired 5,000 shares of the company's stock in a transaction on Monday, April 21st. The stock was bought at an average cost of $37.32 per share, with a total value of $186,600.00. Following the completion of the purchase, the director now directly owns 15,000 shares of the company's stock, valued at $559,800. This represents a 50.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.23% of the company's stock.

U.S. Bancorp Company 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.