Sequoia Financial Advisors LLC Increases Stock Holdings in U.S. Bancorp (NYSE:USB)

Sequoia Financial Advisors LLC lifted its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 30.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 172,295 shares of the financial services provider's stock after purchasing an additional 40,340 shares during the quarter. Sequoia Financial Advisors LLC's holdings in U.S. Bancorp were worth $7,274,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the stock. J.Safra Asset Management Corp purchased a new position in U.S. Bancorp in the 4th quarter valued at approximately $26,000. Picton Mahoney Asset Management purchased a new stake in shares of U.S. Bancorp during the 4th quarter worth approximately $30,000. Alpine Bank Wealth Management purchased a new stake in U.S. Bancorp in the first quarter valued at $30,000. Millstone Evans Group LLC acquired a new position in U.S. Bancorp during the fourth quarter worth approximately $31,000. Finally, REAP Financial Group LLC boosted its stake in U.S. Bancorp by 86.1% during the 4th quarter. REAP Financial Group LLC now owns 642 shares of the financial services provider's stock worth $31,000 after purchasing an additional 297 shares during the period. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Aleem Gillani acquired 5,000 shares of the firm's stock in a transaction that occurred on Monday, April 21st. The stock was purchased at an average price of $37.32 per share, with a total value of $186,600.00. Following the purchase, the director now owns 15,000 shares of the company's stock, valued at approximately $559,800. This trade represents a 50.00% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.23% of the company's stock.

U.S. Bancorp Price Performance

Shares of NYSE USB opened at $45.64 on Friday. The business has a 50 day simple moving average of $42.78 and a 200-day simple moving average of $44.58. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $53.98. The company has a market capitalization of $71.11 billion, a price-to-earnings ratio of 11.30, a price-to-earnings-growth ratio of 1.69 and a beta of 0.99.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.06. The company had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $6.92 billion. U.S. Bancorp had a net margin of 15.70% and a return on equity of 13.02%. During the same quarter in the previous year, the company posted $0.78 earnings per share. As a group, equities research analysts expect 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 will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.38%. U.S. Bancorp's dividend payout ratio (DPR) is 49.50%.

Analyst Ratings Changes

USB has been the topic of a number of analyst reports. Bank of America lowered their price objective on shares of U.S. Bancorp from $50.00 to $49.00 and set a "buy" rating on the stock in a research report on Monday, March 17th. Oppenheimer upped their price target on shares of U.S. Bancorp from $57.00 to $59.00 and gave the company an "outperform" rating in a report on Monday, April 28th. Keefe, Bruyette & Woods cut their price objective on shares of U.S. Bancorp from $54.00 to $49.00 and set a "market perform" rating for the company in a research report on Thursday, April 17th. Evercore ISI lifted their price target on U.S. Bancorp from $44.00 to $49.00 and gave the company an "in-line" rating in a report on Wednesday, June 4th. Finally, Cowen started coverage on U.S. Bancorp in a report on Wednesday, May 14th. They issued a "buy" rating on the stock. Two analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $50.72.

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.

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