First Citizens Bank & Trust Co. Makes New $521,000 Investment in U.S. Bancorp $USB

First Citizens Bank & Trust Co. purchased a new position in shares of U.S. Bancorp (NYSE:USB - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 11,521 shares of the financial services provider's stock, valued at approximately $521,000.

A number of other large investors also recently made changes to their positions in the business. Brighton Jones LLC raised its position in shares of U.S. Bancorp by 323.0% in the 4th quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider's stock worth $2,309,000 after buying an additional 36,863 shares during the period. GAMMA Investing LLC raised its position in shares of U.S. Bancorp by 0.9% in the 1st quarter. GAMMA Investing LLC now owns 36,656 shares of the financial services provider's stock worth $1,548,000 after buying an additional 333 shares during the period. Golden State Wealth Management LLC raised its position in shares of U.S. Bancorp by 137.4% in the 1st quarter. Golden State Wealth Management LLC now owns 5,571 shares of the financial services provider's stock worth $235,000 after buying an additional 3,224 shares during the period. Pure Financial Advisors LLC raised its position in shares of U.S. Bancorp by 7.7% in the 1st quarter. Pure Financial Advisors LLC now owns 7,528 shares of the financial services provider's stock worth $318,000 after buying an additional 540 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its position in shares of U.S. Bancorp by 105.9% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 643,648 shares of the financial services provider's stock worth $27,175,000 after buying an additional 331,079 shares during the period. Hedge funds and other institutional investors own 77.60% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on USB. Morgan Stanley reiterated a "positive" rating on shares of U.S. Bancorp in a report on Friday, October 17th. Bank of America increased their price target on U.S. Bancorp from $54.00 to $55.00 and gave the company a "buy" rating in a report on Friday, October 17th. TD Cowen increased their price target on U.S. Bancorp from $59.00 to $60.00 and gave the company a "buy" rating in a report on Monday, October 20th. Citigroup increased their price target on U.S. Bancorp from $65.00 to $70.00 and gave the company a "buy" rating in a report on Friday, October 17th. Finally, Evercore ISI increased their price target on U.S. Bancorp from $49.00 to $54.00 and gave the company an "in-line" rating in a report on Tuesday, September 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, U.S. Bancorp has an average rating of "Moderate Buy" and an average target price of $54.55.

U.S. Bancorp Stock Up 1.0%

Shares of U.S. Bancorp stock opened at $48.31 on Friday. The business has a 50-day moving average of $48.10 and a 200-day moving average of $45.19. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.82 and a quick ratio of 0.82. The company has a market capitalization of $75.17 billion, a PE ratio of 11.05, a P/E/G ratio of 1.29 and a beta of 1.06. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $53.98.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.22 EPS for the quarter, topping analysts' consensus estimates of $1.11 by $0.11. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.The business had revenue of $7.34 billion during the quarter, compared to the consensus estimate of $7.17 billion. During the same period last year, the firm earned $1.03 earnings per share. The company's revenue for the quarter was up 6.8% compared to the same quarter last year. As a group, equities analysts forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.3%. This is a boost from U.S. Bancorp's previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Tuesday, September 30th. U.S. Bancorp's dividend payout ratio is presently 47.60%.

Insider Buying and Selling

In other news, Chairman Andrew Cecere sold 140,445 shares of U.S. Bancorp stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $46.34, for a total transaction of $6,508,221.30. Following the sale, the chairman owned 1,360,414 shares of the company's stock, valued at approximately $63,041,584.76. The trade was a 9.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP James L. Chosy sold 26,909 shares of U.S. Bancorp stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $46.86, for a total value of $1,260,955.74. Following the sale, the executive vice president directly owned 226,375 shares in the company, valued at approximately $10,607,932.50. This trade represents a 10.62% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.23% of the company's stock.

About U.S. Bancorp

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.

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