First National Trust Co Boosts Holdings in U.S. Bancorp $USB

Key Points

• First National Trust Co increased its stake in U.S. Bancorp by 25.9% in the fourth quarter, buying 40,063 additional shares and bringing its total to 195,036 shares worth about $10.4 million.
• Wall Street remains generally positive on USB, with an average “Moderate Buy” rating and a consensus price target of $61.20. Recent analyst updates included higher targets from Barclays, Evercore, and Royal Bank of Canada.
• U.S. Bancorp posted solid quarterly results, reporting EPS of $1.18 and revenue of $7.32 billion, both ahead of expectations. The bank also pays a quarterly dividend of $0.52, yielding about 3.8% annualized.

First National Trust Co boosted its position in U.S. Bancorp (NYSE:USB - Free Report) by 25.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 195,036 shares of the financial services provider's stock after purchasing an additional 40,063 shares during the quarter. First National Trust Co's holdings in U.S. Bancorp were worth $10,407,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of USB. Guerra Advisors Inc purchased a new stake in shares of U.S. Bancorp during the 3rd quarter valued at $25,000. Financial Life Planners purchased a new stake in shares of U.S. Bancorp during the 3rd quarter valued at $25,000. Clayton Financial Group LLC purchased a new stake in shares of U.S. Bancorp during the 4th quarter valued at $25,000. JPL Wealth Management LLC purchased a new stake in shares of U.S. Bancorp during the 3rd quarter valued at $28,000. Finally, Binnacle Investments Inc raised its position in shares of U.S. Bancorp by 77.8% during the 3rd quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider's stock valued at $30,000 after buying an additional 273 shares in the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on USB. Morgan Stanley set a $64.00 price objective on shares of U.S. Bancorp in a research report on Friday, April 17th. Barclays raised their price objective on shares of U.S. Bancorp from $65.00 to $67.00 and gave the company an "overweight" rating in a research report on Friday, April 17th. Jefferies Financial Group restated a "hold" rating and set a $60.00 price objective on shares of U.S. Bancorp in a research report on Thursday, April 16th. Evercore raised their price objective on shares of U.S. Bancorp from $60.00 to $65.00 and gave the company an "in-line" rating in a research report on Thursday, February 5th. Finally, Royal Bank Of Canada raised their price objective on shares of U.S. Bancorp from $59.00 to $61.00 and gave the company an "outperform" rating in a research report on Friday, April 17th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, U.S. Bancorp has an average rating of "Moderate Buy" and an average price target of $61.20.

Insiders Place Their Bets

In other U.S. Bancorp news, EVP Venkatachari Dilip sold 34,522 shares of the firm's stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total value of $1,916,661.44. Following the sale, the executive vice president owned 51,292 shares of the company's stock, valued at $2,847,731.84. This trade represents a 40.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jodi L. Richard sold 40,000 shares of the firm's stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the completion of the sale, the insider directly owned 207,251 shares in the company, valued at approximately $11,813,307. This trade represents a 16.18% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is owned by company insiders.

U.S. Bancorp Price Performance

Shares of NYSE:USB opened at $54.85 on Friday. The stock has a market cap of $85.14 billion, a PE ratio of 11.50, a PEG ratio of 0.99 and a beta of 1.00. The company's fifty day moving average is $54.07 and its 200 day moving average is $53.64. U.S. Bancorp has a 52 week low of $42.21 and a 52 week high of $61.19. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.03.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its earnings results on Thursday, April 16th. The financial services provider reported $1.18 EPS for the quarter, topping analysts' consensus estimates of $1.14 by $0.04. The company had revenue of $7.32 billion for the quarter, compared to analysts' expectations of $7.27 billion. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. The firm's revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.03 EPS. Research analysts anticipate that U.S. Bancorp will post 5.09 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date was Tuesday, March 31st. U.S. Bancorp's dividend payout ratio (DPR) is presently 43.61%.

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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