Parr Mcknight Wealth Management Group LLC Makes New Investment in U.S. Bancorp (NYSE:USB)

Parr Mcknight Wealth Management Group LLC purchased a new stake in shares of U.S. Bancorp (NYSE:USB - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 10,655 shares of the financial services provider's stock, valued at approximately $510,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Capital Performance Advisors LLP raised its position in U.S. Bancorp by 2.6% during the 4th quarter. Capital Performance Advisors LLP now owns 8,188 shares of the financial services provider's stock valued at $392,000 after purchasing an additional 210 shares during the last quarter. Covestor Ltd raised its position in shares of U.S. Bancorp by 12.3% in the 4th quarter. Covestor Ltd now owns 1,955 shares of the financial services provider's stock worth $94,000 after acquiring an additional 214 shares in the last quarter. Strategic Blueprint LLC raised its position in shares of U.S. Bancorp by 5.2% in the 4th quarter. Strategic Blueprint LLC now owns 4,611 shares of the financial services provider's stock worth $221,000 after acquiring an additional 226 shares in the last quarter. Tritonpoint Wealth LLC raised its position in shares of U.S. Bancorp by 4.9% in the 4th quarter. Tritonpoint Wealth LLC now owns 4,891 shares of the financial services provider's stock worth $236,000 after acquiring an additional 230 shares in the last quarter. Finally, TrinityPoint Wealth LLC raised its position in shares of U.S. Bancorp by 2.3% in the 4th quarter. TrinityPoint Wealth LLC now owns 10,355 shares of the financial services provider's stock worth $495,000 after acquiring an additional 231 shares in the last quarter. Institutional investors own 77.60% of the company's stock.

U.S. Bancorp Stock Performance

U.S. Bancorp stock traded up $0.78 during trading on Tuesday, reaching $43.72. The company had a trading volume of 6,500,308 shares, compared to its average volume of 9,096,746. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $53.98. The firm's 50-day simple moving average is $40.98 and its 200 day simple moving average is $45.75. The firm has a market capitalization of $68.12 billion, a price-to-earnings ratio of 11.54, a price-to-earnings-growth ratio of 1.73 and a beta of 0.97. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $1.03 EPS for the quarter, beating analysts' consensus estimates of $0.97 by $0.06. The business had revenue of $6.96 billion for the quarter, compared to analysts' expectations of $6.92 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. During the same period last year, the firm earned $0.78 earnings per share. Sell-side analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a dividend of $0.50 per share. The ex-dividend date was Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a yield of 4.57%. U.S. Bancorp's dividend payout ratio is presently 49.50%.

Analyst Ratings Changes

USB has been the subject of several research reports. Morgan Stanley decreased their target price on U.S. Bancorp from $51.00 to $50.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Oppenheimer raised their price objective on U.S. Bancorp from $57.00 to $59.00 and gave the company an "outperform" rating in a research report on Monday, April 28th. Bank of America reduced their price objective on U.S. Bancorp from $50.00 to $49.00 and set a "buy" rating for the company in a research report on Monday, March 17th. JPMorgan Chase & Co. reaffirmed an "underweight" rating and set a $43.50 price objective (down previously from $51.00) on shares of U.S. Bancorp in a research report on Thursday, April 3rd. Finally, Royal Bank of Canada cut their target price on U.S. Bancorp from $57.00 to $50.00 and set an "outperform" rating on the stock in a research note on Thursday, April 17th. One 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. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $50.89.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, Director Aleem Gillani purchased 5,000 shares of the firm's stock in a transaction on Monday, April 21st. The shares were acquired at an average cost of $37.32 per share, with a total value of $186,600.00. Following the completion of the acquisition, the director now directly owns 15,000 shares in the company, valued at $559,800. The trade was a 50.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.23% of the company's stock.

U.S. Bancorp Company 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.