Knights of Columbus Asset Advisors LLC Invests $3.11 Million in U.S. Bancorp $USB

Key Points

• Knights of Columbus Asset Advisors bought a new position in U.S. Bancorp, purchasing 58,275 shares valued at about $3.11 million in the fourth quarter.
• U.S. Bancorp reported better-than-expected quarterly earnings of $1.18 per share versus estimates of $1.14, along with revenue of $7.32 billion, up 4.7% year over year.
• The bank recently paid a quarterly dividend of $0.52 per share, which annualizes to $2.08 and implies a 3.8% yield.

Knights of Columbus Asset Advisors LLC purchased a new position in shares of U.S. Bancorp (NYSE:USB - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 58,275 shares of the financial services provider's stock, valued at approximately $3,110,000.

Several other institutional investors have also modified their holdings of the company. Paulson Wealth Management Inc. grew its position in shares of U.S. Bancorp by 2.0% during the fourth quarter. Paulson Wealth Management Inc. now owns 8,780 shares of the financial services provider's stock worth $469,000 after acquiring an additional 173 shares during the last quarter. Gilbert & Cook Inc. grew its position in shares of U.S. Bancorp by 1.2% during the fourth quarter. Gilbert & Cook Inc. now owns 15,590 shares of the financial services provider's stock worth $832,000 after acquiring an additional 184 shares during the last quarter. Flputnam Investment Management Co. grew its position in shares of U.S. Bancorp by 1.4% during the fourth quarter. Flputnam Investment Management Co. now owns 13,721 shares of the financial services provider's stock worth $732,000 after acquiring an additional 186 shares during the last quarter. Genesis Private Wealth LLC grew its position in shares of U.S. Bancorp by 2.3% during the fourth quarter. Genesis Private Wealth LLC now owns 8,348 shares of the financial services provider's stock worth $445,000 after acquiring an additional 187 shares during the last quarter. Finally, RiverFront Investment Group LLC grew its position in U.S. Bancorp by 3.0% in the 4th quarter. RiverFront Investment Group LLC now owns 6,623 shares of the financial services provider's stock valued at $353,000 after buying an additional 196 shares in the last quarter. Institutional investors own 77.60% of the company's stock.

Insider Activity

In other news, EVP Venkatachari Dilip sold 34,522 shares of the firm's stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the completion of the transaction, the executive vice president owned 51,292 shares in the company, valued at approximately $2,847,731.84. This trade represents a 40.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jodi L. Richard sold 40,000 shares of the firm's stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the transaction, the insider owned 207,251 shares of the company's stock, 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. Company insiders own 0.21% of the company's stock.

U.S. Bancorp Stock Performance

NYSE:USB opened at $54.63 on Thursday. U.S. Bancorp has a twelve month low of $42.55 and a twelve month high of $61.19. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.03. The company has a 50-day moving average of $54.29 and a 200-day moving average of $53.86. The firm has a market cap of $84.81 billion, a price-to-earnings ratio of 11.45, a price-to-earnings-growth ratio of 1.00 and a beta of 1.00.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its quarterly earnings data on Thursday, April 16th. The financial services provider reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.04. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. The company had revenue of $7.32 billion during the quarter, compared to analyst estimates of $7.27 billion. During the same quarter last year, the firm posted $1.03 EPS. The business's revenue for the quarter was up 4.7% on a year-over-year basis. Analysts forecast that U.S. Bancorp will post 5.09 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts recently issued reports on USB shares. UBS Group reiterated a "neutral" rating and issued a $60.00 target price on shares of U.S. Bancorp in a research report on Wednesday, February 4th. Oppenheimer increased their target price on shares of U.S. Bancorp from $73.00 to $74.00 and gave the company an "outperform" rating in a research report on Wednesday, April 29th. Jefferies Financial Group reiterated a "hold" rating and issued a $60.00 target price on shares of U.S. Bancorp in a research report on Thursday, April 16th. Morgan Stanley set a $64.00 target price on shares of U.S. Bancorp in a research report on Friday, April 17th. Finally, JPMorgan Chase & Co. decreased their target price on shares of U.S. Bancorp from $58.00 to $57.50 and set an "underweight" rating for the company in a research report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $61.20.

About U.S. Bancorp

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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