Edgestream Partners L.P. Takes Position in U.S. Bancorp (NYSE:USB)

Edgestream Partners L.P. purchased a new position in shares of U.S. Bancorp (NYSE:USB - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 99,248 shares of the financial services provider's stock, valued at approximately $4,190,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. FIL Ltd boosted its holdings in U.S. Bancorp by 42.0% in the 4th quarter. FIL Ltd now owns 28,872 shares of the financial services provider's stock valued at $1,381,000 after purchasing an additional 8,542 shares in the last quarter. Wesbanco Bank Inc. boosted its holdings in U.S. Bancorp by 31.6% in the 1st quarter. Wesbanco Bank Inc. now owns 325,056 shares of the financial services provider's stock valued at $13,724,000 after purchasing an additional 78,146 shares in the last quarter. Vanguard Group Inc. boosted its holdings in U.S. Bancorp by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 138,836,896 shares of the financial services provider's stock valued at $6,640,569,000 after purchasing an additional 1,079,056 shares in the last quarter. Becker Capital Management Inc. boosted its holdings in U.S. Bancorp by 1.5% in the 4th quarter. Becker Capital Management Inc. now owns 560,095 shares of the financial services provider's stock valued at $27,069,000 after purchasing an additional 8,204 shares in the last quarter. Finally, Asset Management One Co. Ltd. boosted its holdings in U.S. Bancorp by 9.2% in the 1st quarter. Asset Management One Co. Ltd. now owns 653,367 shares of the financial services provider's stock valued at $27,585,000 after purchasing an additional 55,054 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company's stock.

Insider Buying and Selling

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, with a total value of $186,600.00. Following the purchase, the director directly owned 15,000 shares of the company's stock, valued at approximately $559,800. This represents a 50.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.23% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on USB. Oppenheimer lifted their price objective on U.S. Bancorp from $65.00 to $66.00 and gave the company an "outperform" rating in a report on Friday. Piper Sandler lowered their price objective on U.S. Bancorp from $49.00 to $48.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Raymond James Financial upgraded shares of U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and lifted their price target for the company from $51.00 to $57.00 in a research report on Monday, July 7th. Cowen assumed coverage on shares of U.S. Bancorp in a research report on Wednesday, May 14th. They set a "buy" rating for the company. Finally, The Goldman Sachs Group lifted their price target on shares of U.S. Bancorp from $41.00 to $46.00 and gave the company a "neutral" rating in a research report on Tuesday, June 10th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $52.07.

U.S. Bancorp Trading Up 0.3%

USB stock traded up $0.14 during midday trading on Friday, hitting $45.35. The stock had a trading volume of 4,779,634 shares, compared to its average volume of 9,483,779. The firm has a market cap of $70.66 billion, a PE ratio of 11.22, a price-to-earnings-growth ratio of 1.76 and a beta of 0.99. 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 has a 12-month low of $35.18 and a 12-month high of $53.98. The company's 50-day moving average price is $44.74 and its 200 day moving average price is $44.31.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its earnings results on Thursday, July 17th. The financial services provider reported $1.11 EPS for the quarter, topping the consensus estimate of $1.07 by $0.04. The firm had revenue of $7.06 billion during the quarter, compared to analysts' expectations of $7.07 billion. U.S. Bancorp had a net margin of 15.70% and a return on equity of 13.02%. U.S. Bancorp's revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.98 EPS. On average, equities research analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a $0.50 dividend. The ex-dividend date was Monday, June 30th. This represents a $2.00 annualized dividend and a yield of 4.41%. U.S. Bancorp's payout ratio is currently 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.