LSV Asset Management Raises Stock Position in U.S. Bancorp $USB

Key Points

• LSV Asset Management increased its U.S. Bancorp stake by 20.3% in the fourth quarter, buying 82,700 additional shares and bringing its total to 490,700 shares valued at about $26.2 million.
• U.S. Bancorp reported better-than-expected quarterly earnings, posting $1.18 EPS versus the $1.14 estimate and revenue of $7.32 billion, up 4.7% year over year.
• The company also paid a quarterly dividend of $0.52, equal to an annualized yield of 3.8%, while analysts currently rate the stock a Moderate Buy with a consensus price target of $61.20.

LSV Asset Management boosted its holdings in U.S. Bancorp (NYSE:USB - Free Report) by 20.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 490,700 shares of the financial services provider's stock after buying an additional 82,700 shares during the period. LSV Asset Management's holdings in U.S. Bancorp were worth $26,184,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Guerra Advisors Inc purchased a new stake in U.S. Bancorp in the 3rd quarter worth $25,000. Financial Life Planners purchased a new stake in U.S. Bancorp in the 3rd quarter worth $25,000. Clayton Financial Group LLC purchased a new stake in U.S. Bancorp in the 4th quarter worth $25,000. JPL Wealth Management LLC purchased a new stake in U.S. Bancorp in the 3rd quarter worth $28,000. Finally, Binnacle Investments Inc boosted its holdings 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 purchasing an additional 273 shares during the last quarter. Hedge funds and other institutional investors own 77.60% of the company's stock.

U.S. Bancorp Stock Up 0.0%

Shares of NYSE:USB opened at $54.85 on Monday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.03. U.S. Bancorp has a 12 month low of $42.21 and a 12 month high of $61.19. The company has a 50-day moving average price of $54.07 and a 200 day moving average price of $53.69. The company has a market cap of $85.14 billion, a price-to-earnings ratio of 11.50, a PEG ratio of 0.99 and a beta of 1.00.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its quarterly earnings results on Thursday, April 16th. The financial services provider reported $1.18 EPS for the quarter, beating analysts' consensus estimates 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 firm had revenue of $7.32 billion during the quarter, compared to the consensus estimate of $7.27 billion. During the same quarter last year, the firm earned $1.03 EPS. The firm's revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, equities research analysts predict that U.S. Bancorp will post 5.09 earnings per share for the current year.

U.S. Bancorp Announces Dividend

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

Insider Transactions at U.S. Bancorp

In related news, insider Jodi L. Richard sold 40,000 shares of the stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total value of $2,280,000.00. Following the completion of 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Venkatachari Dilip sold 34,522 shares of the 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 directly owned 51,292 shares of the company's stock, valued at approximately $2,847,731.84. The trade was a 40.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on USB. Weiss Ratings raised shares of U.S. Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, May 4th. Jefferies Financial Group reissued a "hold" rating and set a $60.00 price objective on shares of U.S. Bancorp in a report on Thursday, April 16th. Royal Bank Of Canada increased their price objective on shares of U.S. Bancorp from $59.00 to $61.00 and gave the company an "outperform" rating in a report on Friday, April 17th. JPMorgan Chase & Co. dropped their price objective on shares of U.S. Bancorp from $58.00 to $57.50 and set an "underweight" rating for the company in a report on Thursday, April 30th. Finally, DA Davidson reissued a "buy" rating and set a $65.00 price objective on shares of U.S. Bancorp in a report on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $61.20.

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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