Foundry Partners LLC Buys Shares of 514,985 U.S. Bancorp (NYSE:USB)

Foundry Partners LLC bought a new position in shares of U.S. Bancorp (NYSE:USB - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 514,985 shares of the financial services provider's stock, valued at approximately $21,743,000. U.S. Bancorp makes up approximately 1.2% of Foundry Partners LLC's portfolio, making the stock its 21st largest position.

A number of other hedge funds also recently bought and sold shares of USB. Westend Capital Management LLC purchased a new position in U.S. Bancorp during the 1st quarter worth approximately $27,000. YANKCOM Partnership grew its position in shares of U.S. Bancorp by 59.4% in the first quarter. YANKCOM Partnership now owns 698 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 260 shares during the period. Alpine Bank Wealth Management purchased a new stake in shares of U.S. Bancorp in the first quarter valued at $30,000. Millstone Evans Group LLC purchased a new stake in U.S. Bancorp during the fourth quarter valued at about $31,000. Finally, REAP Financial Group LLC grew its position in U.S. Bancorp by 86.1% during the fourth quarter. REAP Financial Group LLC now owns 642 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 297 shares during the period. Institutional investors and hedge funds own 77.60% of the company's stock.

U.S. Bancorp Stock Up 1.1%

U.S. Bancorp stock traded up $0.51 during midday trading on Friday, hitting $45.72. 15,539,613 shares of the company's stock were exchanged, compared to its average volume of 9,483,789. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.80 and a current ratio of 0.81. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $53.98. The firm has a 50-day moving average of $44.82 and a two-hundred day moving average of $44.27. The company has a market cap of $71.23 billion, a PE ratio of 10.94, a P/E/G ratio of 1.75 and a beta of 0.99.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The financial services provider reported $1.11 EPS for the quarter, beating the consensus estimate of $1.07 by $0.04. U.S. Bancorp had a net margin of 16.30% and a return on equity of 13.08%. The firm had revenue of $7.06 billion during the quarter, compared to analyst estimates of $7.07 billion. During the same period last year, the firm posted $0.98 EPS. U.S. Bancorp's revenue was up 2.0% on a year-over-year basis. As a group, analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.37%. U.S. Bancorp's payout ratio is 47.85%.

Analysts Set New Price Targets

Several research firms recently commented on USB. Morgan Stanley boosted their price target on U.S. Bancorp from $51.00 to $52.00 and gave the stock an "overweight" rating in a research note on Friday. Wells Fargo & Company decreased their price target on U.S. Bancorp from $56.00 to $50.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Barclays reduced their price objective on U.S. Bancorp from $61.00 to $56.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. DA Davidson reduced their target price on U.S. Bancorp from $54.00 to $49.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Finally, Truist Financial increased their price objective on U.S. Bancorp from $48.00 to $50.00 and gave the stock a "hold" rating in a report on Wednesday, July 9th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $52.36.

Insider Activity at U.S. Bancorp

In related news, Director Aleem Gillani purchased 5,000 shares of the company's stock in a transaction that occurred on Monday, April 21st. The shares were purchased at an average price of $37.32 per share, with a total value of $186,600.00. Following the purchase, the director owned 15,000 shares of the company's stock, valued at $559,800. The trade was a 50.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.23% of the stock is owned by insiders.

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.