Crossmark Global Holdings Inc. Boosts Stake in U.S. Bancorp (NYSE:USB)

Crossmark Global Holdings Inc. boosted its position in shares of U.S. Bancorp (NYSE:USB - Free Report) by 136.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 238,231 shares of the financial services provider's stock after buying an additional 137,331 shares during the period. Crossmark Global Holdings Inc.'s holdings in U.S. Bancorp were worth $10,058,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Covestor Ltd boosted its stake in U.S. Bancorp by 12.3% during the fourth quarter. Covestor Ltd now owns 1,955 shares of the financial services provider's stock valued at $94,000 after buying an additional 214 shares during the last quarter. TrinityPoint Wealth LLC raised its position in U.S. Bancorp by 2.3% during the fourth quarter. TrinityPoint Wealth LLC now owns 10,355 shares of the financial services provider's stock valued at $495,000 after purchasing an additional 231 shares during the period. CoreCap Advisors LLC raised its position in U.S. Bancorp by 36.6% during the fourth quarter. CoreCap Advisors LLC now owns 904 shares of the financial services provider's stock valued at $43,000 after purchasing an additional 242 shares during the period. Bestgate Wealth Advisors LLC raised its position in U.S. Bancorp by 3.3% during the first quarter. Bestgate Wealth Advisors LLC now owns 8,031 shares of the financial services provider's stock valued at $339,000 after purchasing an additional 253 shares during the period. Finally, YANKCOM Partnership raised its position in U.S. Bancorp by 59.4% during the first quarter. YANKCOM Partnership now owns 698 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 260 shares during the period. 77.60% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Aleem Gillani acquired 5,000 shares of U.S. Bancorp stock in a transaction that occurred on Monday, April 21st. The shares were purchased at an average price of $37.32 per share, for a total transaction of $186,600.00. Following the completion of the transaction, the director owned 15,000 shares in the company, valued at $559,800. This represents a 50.00% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.23% of the company's stock.

Wall Street Analysts Forecast Growth

USB has been the topic of a number of recent research reports. Morgan Stanley upped their price objective on U.S. Bancorp from $50.00 to $51.00 and gave the company an "overweight" rating in a research report on Thursday, July 3rd. Wells Fargo & Company dropped their price objective on U.S. Bancorp from $56.00 to $50.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Oppenheimer upped their price objective on U.S. Bancorp from $57.00 to $59.00 and gave the company an "outperform" rating in a research report on Monday, April 28th. Royal Bank Of Canada cut their price objective on U.S. Bancorp from $57.00 to $50.00 and set an "outperform" rating on the stock in a research report on Thursday, April 17th. Finally, Raymond James Financial raised U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and upped their price objective for the company from $51.00 to $57.00 in a research report on Monday. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, U.S. Bancorp currently has an average rating of "Moderate Buy" and an average price target of $51.70.

U.S. Bancorp Price Performance

USB traded up $0.32 during trading on Thursday, hitting $47.62. The company's stock had a trading volume of 5,242,876 shares, compared to its average volume of 9,388,155. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. The business's fifty day simple moving average is $44.13 and its 200 day simple moving average is $44.40. The firm has a market capitalization of $74.19 billion, a price-to-earnings ratio of 11.79, a P/E/G ratio of 1.79 and a beta of 0.99. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $53.98.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.97 by $0.06. The firm had revenue of $6.96 billion for the quarter, compared to analyst estimates of $6.92 billion. U.S. Bancorp had a return on equity of 13.02% and a net margin of 15.70%. During the same period in the previous year, the company posted $0.78 earnings per share. On average, equities research analysts forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.00 dividend on an annualized basis and a yield of 4.20%. U.S. Bancorp's payout ratio is 49.50%.

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.