Oak Thistle LLC Purchases 32,276 Shares of U.S. Bancorp (NYSE:USB)

Oak Thistle LLC boosted its position in U.S. Bancorp (NYSE:USB - Free Report) by 455.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,359 shares of the financial services provider's stock after buying an additional 32,276 shares during the period. Oak Thistle LLC's holdings in U.S. Bancorp were worth $1,662,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Westend Capital Management LLC acquired a new position in U.S. Bancorp in the first quarter valued at approximately $27,000. YANKCOM Partnership lifted its position 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 valued at $29,000 after acquiring an additional 260 shares during the period. Alpine Bank Wealth Management acquired a new stake in U.S. Bancorp in the first quarter worth $30,000. Millstone Evans Group LLC acquired a new stake in U.S. Bancorp in the fourth quarter worth $31,000. Finally, REAP Financial Group LLC increased its stake in U.S. Bancorp by 86.1% in the fourth quarter. REAP Financial Group LLC now owns 642 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 297 shares in the last quarter. Institutional investors own 77.60% of the company's stock.

U.S. Bancorp Stock Performance

NYSE USB traded up $0.26 during trading hours on Friday, reaching $46.32. 7,938,381 shares of the company were exchanged, compared to its average volume of 10,934,123. The stock has a market capitalization of $72.16 billion, a P/E ratio of 11.08, a P/E/G ratio of 1.46 and a beta of 0.99. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.16. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $53.98. The business's 50 day simple moving average is $44.96 and its 200-day simple moving average is $44.24.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The financial services provider reported $1.11 EPS for the quarter, topping analysts' consensus estimates of $1.07 by $0.04. U.S. Bancorp had a net margin of 16.30% and a return on equity of 13.08%. The company had revenue of $7.06 billion for the quarter, compared to analysts' expectations of $7.07 billion. During the same quarter in the previous year, the firm posted $0.98 EPS. U.S. Bancorp's revenue was up 2.0% on a year-over-year basis. On average, equities research analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date of this dividend was Monday, June 30th. U.S. Bancorp's dividend payout ratio is currently 47.85%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on USB. Royal Bank Of Canada reduced their target price on U.S. Bancorp from $57.00 to $50.00 and set an "outperform" rating for the company in a research note on Thursday, April 17th. TD Cowen initiated coverage on U.S. Bancorp in a research report on Thursday, May 15th. They set a "buy" rating and a $60.00 target price on the stock. Piper Sandler reduced their price target on shares of U.S. Bancorp from $49.00 to $48.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Keefe, Bruyette & Woods lowered their price objective on shares of U.S. Bancorp from $54.00 to $49.00 and set a "market perform" rating on the stock in a report on Thursday, April 17th. Finally, JPMorgan Chase & Co. reissued an "underweight" rating and set a $43.50 target price (down from $51.00) on shares of U.S. Bancorp in a research report on Thursday, April 3rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $52.50.

Insider Buying and Selling at U.S. Bancorp

In other news, EVP Souheil Badran sold 23,727 shares of U.S. Bancorp stock in a transaction on Monday, July 21st. The stock was sold at an average price of $46.34, for a total value of $1,099,509.18. Following the completion of the transaction, the executive vice president directly owned 70,346 shares in the company, valued at approximately $3,259,833.64. The trade was a 25.22% decrease in their ownership of the stock. The sale 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 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.