Synergy Asset Management LLC Purchases 104,083 Shares of U.S. Bancorp (NYSE:USB)

Synergy Asset Management LLC boosted its position in shares of U.S. Bancorp (NYSE:USB - Free Report) by 33,683.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 104,392 shares of the financial services provider's stock after purchasing an additional 104,083 shares during the quarter. Synergy Asset Management LLC's holdings in U.S. Bancorp were worth $4,407,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Covestor Ltd grew its holdings 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 during the last quarter. TrinityPoint Wealth LLC boosted its position in shares of U.S. Bancorp by 2.3% in the fourth quarter. TrinityPoint Wealth LLC now owns 10,355 shares of the financial services provider's stock worth $495,000 after buying an additional 231 shares during the period. CoreCap Advisors LLC boosted its position in shares of U.S. Bancorp by 36.6% in the fourth quarter. CoreCap Advisors LLC now owns 904 shares of the financial services provider's stock worth $43,000 after buying an additional 242 shares during the period. Transcend Capital Advisors LLC boosted its position in shares of U.S. Bancorp by 5.1% in the fourth quarter. Transcend Capital Advisors LLC now owns 5,196 shares of the financial services provider's stock worth $249,000 after buying an additional 252 shares during the period. Finally, Rothschild Investment LLC boosted its position in shares of U.S. Bancorp by 2.5% in the fourth quarter. Rothschild Investment LLC now owns 11,231 shares of the financial services provider's stock worth $537,000 after buying an additional 273 shares during the period. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Cowen assumed coverage on U.S. Bancorp in a research report on Wednesday, May 14th. They issued a "buy" rating for the company. Oppenheimer raised their target price on U.S. Bancorp from $57.00 to $59.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. Raymond James Financial reaffirmed an "outperform" rating and issued a $51.00 target price (down previously from $57.00) on shares of U.S. Bancorp in a research report on Thursday, April 17th. Evercore ISI raised their target price on U.S. Bancorp from $44.00 to $49.00 and gave the stock an "in-line" rating in a research report on Wednesday, June 4th. Finally, Morgan Stanley reduced their price objective 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. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $50.72.

U.S. Bancorp Stock Performance

Shares of NYSE USB traded up $0.07 during trading hours on Friday, hitting $43.34. 21,354,696 shares of the company's stock were exchanged, compared to its average volume of 9,171,085. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $53.98. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a market capitalization of $67.53 billion, a price-to-earnings ratio of 10.73, a PEG ratio of 1.63 and a beta of 1.00. The company's 50-day moving average price is $42.25 and its 200-day moving average price is $44.68.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.06. U.S. Bancorp had a return on equity of 13.02% and a net margin of 15.70%. The business had revenue of $6.96 billion during the quarter, compared to analysts' expectations of $6.92 billion. During the same quarter in the previous year, the firm earned $0.78 EPS. On average, sell-side analysts expect 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 disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a dividend of $0.50 per share. The ex-dividend date is Monday, June 30th. This represents a $2.00 annualized dividend and a dividend yield of 4.61%. U.S. Bancorp's dividend payout ratio is presently 49.50%.

Insider Buying and Selling

In other news, Director Aleem Gillani acquired 5,000 shares of U.S. Bancorp stock in a transaction on Monday, April 21st. The stock was bought at an average price of $37.32 per share, for a total transaction of $186,600.00. Following the transaction, the director now owns 15,000 shares of the company's stock, 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 accessible through this link. 0.23% of the stock is owned by insiders.

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.