Intact Investment Management Inc. Raises Position in U.S. Bancorp (NYSE:USB)

Intact Investment Management Inc. increased its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 62.0% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 181,000 shares of the financial services provider's stock after purchasing an additional 69,300 shares during the period. Intact Investment Management Inc.'s holdings in U.S. Bancorp were worth $7,642,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. J.Safra Asset Management Corp acquired a new stake in U.S. Bancorp during the 4th quarter worth approximately $26,000. FPC Investment Advisory Inc. acquired a new stake in U.S. Bancorp during the 4th quarter worth approximately $28,000. Picton Mahoney Asset Management acquired a new stake in U.S. Bancorp during the 4th quarter worth approximately $30,000. Millstone Evans Group LLC acquired a new stake in U.S. Bancorp during the 4th quarter worth approximately $31,000. Finally, REAP Financial Group LLC lifted its holdings 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 buying an additional 297 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on USB shares. Raymond James Financial reiterated an "outperform" rating and set a $51.00 target price (down from $57.00) on shares of U.S. Bancorp in a report on Thursday, April 17th. TD Cowen started coverage on shares of U.S. Bancorp in a report on Thursday, May 15th. They issued a "buy" rating and a $60.00 price objective on the stock. Evercore ISI raised their price objective on shares of U.S. Bancorp from $44.00 to $49.00 and gave the company an "in-line" rating in a report on Wednesday, June 4th. Cowen started coverage on shares of U.S. Bancorp in a report on Wednesday, May 14th. They issued a "buy" rating on the stock. Finally, Wells Fargo & Company reduced their price objective on shares of U.S. Bancorp from $56.00 to $50.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat, U.S. Bancorp currently has a consensus rating of "Moderate Buy" and an average price target of $50.72.

U.S. Bancorp Stock Up 0.2%

NYSE:USB traded up $0.07 during midday trading on Friday, hitting $43.34. 21,354,696 shares of the company were exchanged, compared to its average volume of 9,171,085. The company has a fifty day simple moving average of $42.25 and a 200 day simple moving average of $44.68. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two week high of $53.98. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. The company has a market capitalization of $67.53 billion, a PE ratio of 10.73, a price-to-earnings-growth ratio of 1.63 and a beta of 1.00.

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 net margin of 15.70% and a return on equity of 13.02%. The company had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $6.92 billion. During the same period last year, the firm posted $0.78 EPS. As a group, equities analysts anticipate 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. Shareholders of record on Monday, June 30th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.61%. The ex-dividend date is Monday, June 30th. U.S. Bancorp's payout ratio is currently 49.50%.

Insiders Place Their Bets

In other news, Director Aleem Gillani bought 5,000 shares of the stock in a transaction dated Monday, April 21st. The shares were acquired at an average price 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 approximately $559,800. The trade was a 50.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.23% of the stock is currently owned by insiders.

U.S. Bancorp 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.