Parr Mcknight Wealth Management Group LLC Takes Position in U.S. Bancorp (NYSE:USB)

Parr Mcknight Wealth Management Group LLC bought a new position in shares of U.S. Bancorp (NYSE:USB - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 10,655 shares of the financial services provider's stock, valued at approximately $510,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in USB. Norges Bank acquired a new position in U.S. Bancorp during the 4th quarter worth approximately $777,524,000. Invesco Ltd. increased its position in U.S. Bancorp by 48.1% during the 4th 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 period. Marshall Wace LLP increased its position in U.S. Bancorp by 414.1% during the 4th 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 period. Raymond James Financial Inc. acquired a new position in U.S. Bancorp during the 4th quarter worth approximately $184,733,000. Finally, FMR LLC increased its position in U.S. Bancorp by 5.0% during the 4th 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 period. Institutional investors and hedge funds own 77.60% of the company's stock.

U.S. Bancorp Stock Performance

Shares of NYSE USB traded up $0.24 during mid-day trading on Thursday, hitting $43.47. The company had a trading volume of 2,472,912 shares, compared to its average volume of 9,059,394. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.80. The firm's 50 day simple moving average is $41.01 and its two-hundred day simple moving average is $45.72. The stock has a market cap of $67.72 billion, a price-to-earnings ratio of 11.47, a PEG ratio of 1.73 and a beta of 0.97. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $53.98.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.06. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The business had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $6.92 billion. During the same period in the previous year, the firm posted $0.78 earnings per share. As a group, equities research analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a $0.50 dividend. The ex-dividend date was Monday, March 31st. This represents a $2.00 annualized dividend and a dividend yield of 4.60%. U.S. Bancorp's dividend payout ratio is currently 49.50%.

Insider Buying and Selling at U.S. Bancorp

In related news, Director Aleem Gillani purchased 5,000 shares of the stock in a transaction dated Monday, April 21st. The shares were acquired at an average cost of $37.32 per share, for a total transaction of $186,600.00. Following the acquisition, the director now directly owns 15,000 shares in the company, valued at approximately $559,800. The trade was a 50.00% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.23% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Cowen assumed coverage on U.S. Bancorp in a research report on Wednesday, May 14th. They set a "buy" rating on the stock. Wells Fargo & Company lowered their price target on U.S. Bancorp from $56.00 to $50.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. JPMorgan Chase & Co. restated an "underweight" rating and issued a $43.50 price target (down previously from $51.00) on shares of U.S. Bancorp in a report on Thursday, April 3rd. Keefe, Bruyette & Woods lowered their price target on U.S. Bancorp from $54.00 to $49.00 and set a "market perform" rating on the stock in a report on Thursday, April 17th. Finally, Wall Street Zen upgraded U.S. Bancorp from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, U.S. Bancorp has a consensus rating of "Moderate Buy" and an average price target of $50.89.

About U.S. Bancorp

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.