Probity Advisors Inc. Grows Position in U.S. Bancorp (NYSE:USB)

Key Points

• Probity Advisors Inc. increased its stake in U.S. Bancorp by 21.4% in the first quarter, now owning 37,821 shares valued at approximately $1.6 million.
• U.S. Bancorp reported earnings per share of $1.11 for the last quarter, exceeding analysts' expectations of $1.07, while its revenue was slightly below the forecast.
• The firm declared a quarterly dividend of $0.50 per share, representing an annualized yield of 4.6%, with a dividend payout ratio of 47.85%.

Probity Advisors Inc. increased its position in U.S. Bancorp (NYSE:USB - Free Report) by 21.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,821 shares of the financial services provider's stock after acquiring an additional 6,666 shares during the period. Probity Advisors Inc.'s holdings in U.S. Bancorp were worth $1,597,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of USB. FMR LLC boosted its position in U.S. Bancorp by 5.0% during the 4th quarter. FMR LLC now owns 67,125,746 shares of the financial services provider's stock worth $3,210,624,000 after purchasing an additional 3,211,815 shares during the period. Northern Trust Corp lifted its position in shares of U.S. Bancorp by 10.9% in the 4th quarter. Northern Trust Corp now owns 17,050,568 shares of the financial services provider's stock worth $815,529,000 after buying an additional 1,670,305 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of U.S. Bancorp by 48.1% during the fourth quarter. Invesco Ltd. now owns 16,787,513 shares of the financial services provider's stock valued at $802,947,000 after acquiring an additional 5,449,949 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of U.S. Bancorp by 11.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,574,919 shares of the financial services provider's stock worth $601,458,000 after buying an additional 1,339,493 shares during the period. Finally, Federated Hermes Inc. increased its stake in shares of U.S. Bancorp by 0.3% during the first quarter. Federated Hermes Inc. now owns 9,485,614 shares of the financial services provider's stock valued at $400,483,000 after acquiring an additional 27,566 shares during the period. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Price Performance

U.S. Bancorp stock traded down $0.11 during midday trading on Wednesday, reaching $44.45. The company's stock had a trading volume of 5,854,285 shares, compared to its average volume of 11,646,785. The business has a 50-day moving average price of $45.22 and a 200-day moving average price of $44.02. The stock has a market cap of $69.26 billion, a PE ratio of 10.63, a price-to-earnings-growth ratio of 1.40 and a beta of 1.01. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $53.98. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.16.

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

U.S. Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a dividend of $0.50 per share. The ex-dividend date was Monday, June 30th. This represents a $2.00 annualized dividend and a yield of 4.5%. U.S. Bancorp's payout ratio is 47.85%.

Insiders Place Their Bets

In other news, EVP Souheil Badran sold 23,727 shares of the firm's stock in a transaction on Monday, July 21st. The stock was sold at an average price of $46.34, for a total transaction of $1,099,509.18. Following the completion of the sale, the executive vice president directly owned 70,346 shares of the company's stock, valued at $3,259,833.64. This trade represents a 25.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.23% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Wells Fargo & Company cut their target price on shares of U.S. Bancorp from $56.00 to $50.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. DA Davidson raised their price objective on U.S. Bancorp from $49.00 to $52.00 and gave the company a "buy" rating in a research note on Monday, July 21st. The Goldman Sachs Group boosted their price target on U.S. Bancorp from $41.00 to $46.00 and gave the company a "neutral" rating in a research note on Tuesday, June 10th. Morgan Stanley upped their price target on U.S. Bancorp from $51.00 to $52.00 and gave the company an "overweight" rating in a research note on Friday, July 18th. Finally, Royal Bank Of Canada lowered their price target on U.S. Bancorp from $57.00 to $50.00 and set an "outperform" rating for the company in a report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $52.55.

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.