Forum Financial Management LP Grows Holdings in U.S. Bancorp (NYSE:USB)

Forum Financial Management LP grew its stake in U.S. Bancorp (NYSE:USB - Free Report) by 100.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,842 shares of the financial services provider's stock after buying an additional 12,479 shares during the period. Forum Financial Management LP's holdings in U.S. Bancorp were worth $1,188,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in USB. Norges Bank purchased a new position in shares of U.S. Bancorp during the fourth quarter worth $777,524,000. Invesco Ltd. raised its holdings in shares of U.S. Bancorp by 48.1% during the fourth quarter. Invesco Ltd. now owns 16,787,513 shares of the financial services provider's stock worth $802,947,000 after purchasing an additional 5,449,949 shares during the last quarter. Marshall Wace LLP raised its holdings in shares of U.S. Bancorp by 414.1% during the fourth quarter. Marshall Wace LLP now owns 5,789,565 shares of the financial services provider's stock worth $276,915,000 after purchasing an additional 4,663,518 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of U.S. Bancorp during the fourth quarter worth $184,733,000. Finally, FMR LLC raised its holdings in shares of U.S. Bancorp by 5.0% during the fourth quarter. FMR LLC now owns 67,125,746 shares of the financial services provider's stock worth $3,210,624,000 after purchasing an additional 3,211,815 shares during the last quarter. Hedge funds and other institutional investors own 77.60% of the company's stock.

U.S. Bancorp Price Performance

Shares of NYSE USB traded down $0.51 during trading on Wednesday, hitting $43.23. The company had a trading volume of 4,792,824 shares, compared to its average volume of 9,085,316. The stock has a fifty day simple moving average of $41.00 and a two-hundred day simple moving average of $45.74. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two week high of $53.98. The firm has a market capitalization of $67.35 billion, a price-to-earnings ratio of 11.41, a price-to-earnings-growth ratio of 1.73 and a beta of 0.97. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.06. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The company had revenue of $6.96 billion during the quarter, compared to analysts' expectations of $6.92 billion. During the same quarter in the prior year, the company earned $0.78 EPS. On average, research analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a dividend of $0.50 per share. The ex-dividend date was Monday, March 31st. This represents a $2.00 annualized dividend and a yield of 4.63%. U.S. Bancorp's dividend payout ratio is presently 49.50%.

Insider Activity at U.S. Bancorp

In other news, Director Aleem Gillani bought 5,000 shares of U.S. Bancorp stock in a transaction on Monday, April 21st. The shares were bought at an average cost of $37.32 per share, with a total value of $186,600.00. Following the completion of the purchase, the director now directly owns 15,000 shares of the company's stock, valued at approximately $559,800. This trade represents a 50.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.23% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

USB has been the subject of several recent research reports. Cowen initiated coverage on shares of U.S. Bancorp in a report on Wednesday, May 14th. They set a "buy" rating for the company. Raymond James restated an "outperform" rating and set a $51.00 price target (down previously from $57.00) on shares of U.S. Bancorp in a research report on Thursday, April 17th. TD Cowen initiated coverage on shares of U.S. Bancorp in a research report on Thursday, May 15th. They set a "buy" rating and a $60.00 price target on the stock. Bank of America dropped their price target on shares of U.S. Bancorp from $50.00 to $49.00 and set a "buy" rating on the stock in a research report on Monday, March 17th. Finally, DA Davidson dropped their price target on shares of U.S. Bancorp from $54.00 to $49.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $50.89.

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.