Dearborn Partners LLC Invests $1.21 Million in U.S. Bancorp $USB

Key Points

• Dearborn Partners purchased 19,953 shares of U.S. Bancorp worth approximately $1.21 million in the second quarter. Institutional investors collectively own 77.6% of the bank’s stock.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $67.06; Jefferies upgraded the stock to “Buy” with a $75 target.
• U.S. Bancorp exceeded quarterly earnings expectations, reporting $1.35 in EPS and $7.69 billion in revenue, while maintaining a quarterly dividend of $0.52 per share, yielding about 3.3%.

Dearborn Partners LLC purchased a new stake in shares of U.S. Bancorp (NYSE:USB - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 19,953 shares of the financial services provider's stock, valued at approximately $1,205,000.

Several other large investors have also made changes to their positions in the company. Parvin Asset Management LLC bought a new stake in U.S. Bancorp in the second quarter worth approximately $30,000. Financial Life Planners bought a new position in shares of U.S. Bancorp during the 1st quarter valued at $27,000. Main Street Group LTD acquired a new stake in shares of U.S. Bancorp in the 1st quarter valued at $28,000. Rossby Financial LCC boosted its holdings in U.S. Bancorp by 57.8% in the fourth quarter. Rossby Financial LCC now owns 579 shares of the financial services provider's stock worth $31,000 after purchasing an additional 212 shares in the last quarter. Finally, NFSG Corp acquired a new position in U.S. Bancorp during the first quarter worth $31,000. Institutional investors own 77.60% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Jefferies Financial Group raised U.S. Bancorp from a "hold" rating to a "buy" rating and boosted their price target for the stock from $60.00 to $75.00 in a research report on Monday, July 6th. BTIG Research set a $67.50 price objective on U.S. Bancorp in a research note on Monday, July 20th. Wells Fargo & Company boosted their target price on U.S. Bancorp from $66.00 to $69.00 and gave the stock an "overweight" rating in a report on Friday, July 17th. Morgan Stanley increased their price target on U.S. Bancorp from $64.00 to $67.00 and gave the company an "equal weight" rating in a report on Monday, June 29th. Finally, UBS Group boosted their target price on shares of U.S. Bancorp from $58.00 to $66.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $67.06.

Insiders Place Their Bets

In other U.S. Bancorp news, insider Stephen L. Philipson sold 36,906 shares of the business's stock in a transaction on Monday, July 20th. The shares were sold at an average price of $63.08, for a total value of $2,328,030.48. Following the sale, the insider owned 74,969 shares of the company's stock, valued at $4,729,044.52. The trade was a 32.99% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.21% of the stock is owned by corporate insiders.

U.S. Bancorp Stock Down 0.6%

Shares of USB opened at $62.44 on Friday. The company has a 50-day simple moving average of $62.75 and a 200-day simple moving average of $57.72. The firm has a market capitalization of $97.28 billion, a P/E ratio of 12.46, a P/E/G ratio of 1.03 and a beta of 0.96. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.82 and a current ratio of 0.83. U.S. Bancorp has a 52 week low of $45.02 and a 52 week high of $66.07.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its earnings results on Thursday, July 16th. The financial services provider reported $1.35 earnings per share for the quarter, topping analysts' consensus estimates of $1.28 by $0.07. The business had revenue of $7.69 billion for the quarter, compared to the consensus estimate of $7.58 billion. U.S. Bancorp had a return on equity of 13.69% and a net margin of 18.49%.During the same period last year, the business earned $1.11 earnings per share. On average, equities research analysts expect that U.S. Bancorp will post 5.22 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Tuesday, June 30th. U.S. Bancorp's dividend payout ratio (DPR) is 41.52%.

U.S. Bancorp Profile

U.S. Bancorp NYSE: USB is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.

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