U.S. Bancorp (NYSE:USB) Holdings Raised by Townsquare Capital LLC

Key Points

• Townsquare Capital LLC has increased its holdings in U.S. Bancorp by 8.7%, owning a total of 254,509 shares valued at approximately $10.7 million.
• U.S. Bancorp reported earnings per share of $1.11 for the last quarter, surpassing estimates, with a revenue of $7.06 billion reflecting a 2% year-over-year growth.
• The company has announced a quarterly dividend of $0.50 per share, yielding 4.5%, with a payout ratio of 47.85%.

Townsquare Capital LLC increased its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 8.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 254,509 shares of the financial services provider's stock after purchasing an additional 20,292 shares during the period. Townsquare Capital LLC's holdings in U.S. Bancorp were worth $10,745,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in USB. Covestor Ltd raised its stake 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 valued at $94,000 after purchasing an additional 214 shares in the last quarter. TrinityPoint Wealth LLC grew its position in shares of U.S. Bancorp by 2.3% during the 4th quarter. TrinityPoint Wealth LLC now owns 10,355 shares of the financial services provider's stock valued at $495,000 after buying an additional 231 shares during the last quarter. CoreCap Advisors LLC grew its position in shares of U.S. Bancorp by 36.6% during the 4th quarter. CoreCap Advisors LLC now owns 904 shares of the financial services provider's stock valued at $43,000 after buying an additional 242 shares during the last quarter. Bestgate Wealth Advisors LLC grew its position in shares of U.S. Bancorp by 3.3% during the 1st quarter. Bestgate Wealth Advisors LLC now owns 8,031 shares of the financial services provider's stock valued at $339,000 after buying an additional 253 shares during the last quarter. Finally, Atlantic Family Wealth LLC grew its position in shares of U.S. Bancorp by 4.2% during the 1st quarter. Atlantic Family Wealth LLC now owns 6,312 shares of the financial services provider's stock valued at $266,000 after buying an additional 254 shares during the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at U.S. Bancorp

In related news, EVP Souheil Badran sold 23,727 shares of the company's stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $46.34, for a total value of $1,099,509.18. Following the completion of the sale, the executive vice president owned 70,346 shares in the company, valued at approximately $3,259,833.64. This represents a 25.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.23% of the company's stock.

U.S. Bancorp Price Performance

USB stock traded down $0.30 on Monday, hitting $44.56. 7,201,231 shares of the company's stock traded hands, compared to its average volume of 11,048,690. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $53.98. The stock has a market cap of $69.34 billion, a price-to-earnings ratio of 10.66, a P/E/G ratio of 1.41 and a beta of 1.01. The stock has a fifty day moving average of $45.27 and a 200-day moving average of $43.90. 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 released its earnings results on Thursday, July 17th. The financial services provider reported $1.11 EPS for the quarter, beating the consensus estimate 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 business had revenue of $7.06 billion during the quarter, compared to analyst estimates of $7.07 billion. During the same period in the prior year, the business earned $0.98 earnings per share. The business's quarterly revenue was up 2.0% on a year-over-year basis. On average, analysts forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on USB shares. Royal Bank Of Canada lowered their price objective on shares of U.S. Bancorp from $57.00 to $50.00 and set an "outperform" rating for the company in a research report on Thursday, April 17th. Raymond James Financial raised shares of U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and boosted their price objective for the company from $51.00 to $57.00 in a research report on Monday, July 7th. Evercore ISI boosted 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 research report on Wednesday, June 4th. The Goldman Sachs Group upped their target price on shares of U.S. Bancorp from $41.00 to $46.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 10th. Finally, Wall Street Zen upgraded shares of U.S. Bancorp from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, U.S. Bancorp presently has a consensus rating of "Moderate Buy" and an average 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.