United Community Bank Purchases 8,796 Shares of U.S. Bancorp (NYSE:USB)

United Community Bank raised its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 21.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 49,066 shares of the financial services provider's stock after acquiring an additional 8,796 shares during the quarter. U.S. Bancorp makes up 0.8% of United Community Bank's portfolio, making the stock its 28th largest holding. United Community Bank's holdings in U.S. Bancorp were worth $2,072,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in USB. Westend Capital Management LLC acquired a new position in shares of U.S. Bancorp during the 1st quarter worth about $27,000. YANKCOM Partnership grew its stake in shares of U.S. Bancorp by 59.4% during the 1st quarter. YANKCOM Partnership now owns 698 shares of the financial services provider's stock worth $29,000 after acquiring an additional 260 shares in the last quarter. Picton Mahoney Asset Management bought a new position in shares of U.S. Bancorp during the 4th quarter worth approximately $30,000. Alpine Bank Wealth Management acquired a new stake in shares of U.S. Bancorp in the 1st quarter valued at approximately $30,000. Finally, Millstone Evans Group LLC acquired a new stake in shares of U.S. Bancorp in the 4th quarter valued at approximately $31,000. 77.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on USB. DA Davidson cut their price target on U.S. Bancorp from $54.00 to $49.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Oppenheimer raised their target price 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. The Goldman Sachs Group lifted their price target on shares of U.S. Bancorp from $41.00 to $46.00 and gave the company a "neutral" rating in a report on Tuesday, June 10th. JPMorgan Chase & Co. reaffirmed an "underweight" rating and set a $43.50 price target (down from $51.00) on shares of U.S. Bancorp in a report on Thursday, April 3rd. Finally, TD Cowen started coverage on shares of U.S. Bancorp in a report on Thursday, May 15th. They set a "buy" rating and a $60.00 target price on the stock. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $51.70.

Insider Buying and Selling

In related news, Director Aleem Gillani purchased 5,000 shares of U.S. Bancorp stock in a transaction on Monday, April 21st. The shares were bought at an average price of $37.32 per share, with a total value of $186,600.00. Following the transaction, the director directly owned 15,000 shares of the company's stock, valued at approximately $559,800. This trade represents a 50.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.23% of the stock is owned by company insiders.

U.S. Bancorp Trading Down 0.9%

Shares of NYSE:USB opened at $47.13 on Monday. The company has a market capitalization of $73.43 billion, a PE ratio of 11.67, a PEG ratio of 1.78 and a beta of 0.99. U.S. Bancorp has a 12-month low of $35.18 and a 12-month high of $53.98. The business has a 50 day moving average of $44.39 and a two-hundred day moving average of $44.32. 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 (NYSE:USB - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $1.03 EPS 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 firm had revenue of $6.96 billion during the quarter, compared to analysts' expectations of $6.92 billion. During the same period in the previous year, the business earned $0.78 earnings per share. As a group, analysts forecast that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.24%. The ex-dividend date is Monday, June 30th. U.S. Bancorp's dividend payout ratio (DPR) is 49.50%.

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.

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