U.S. Bancorp (NYSE:USB) Shares Purchased by Cary Street Partners Financial LLC

Key Points

• Cary Street Partners Financial LLC increased its stake in U.S. Bancorp by 14.0%, acquiring an additional 6,932 shares during the first quarter, bringing their total holdings to 56,480 shares valued at $2.39 million.
• U.S. Bancorp reported $1.11 EPS for the quarter, surpassing analysts' expectations of $1.07, with a year-over-year revenue increase of 2.0%.
• The company announced a quarterly dividend of $0.50, representing an annualized dividend yield of 4.5%, with a payout ratio of 47.85%.

Cary Street Partners Financial LLC boosted its position in shares of U.S. Bancorp (NYSE:USB - Free Report) by 14.0% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 56,480 shares of the financial services provider's stock after acquiring an additional 6,932 shares during the quarter. Cary Street Partners Financial LLC's holdings in U.S. Bancorp were worth $2,385,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of USB. Westend Capital Management LLC purchased a new stake in U.S. Bancorp in the first quarter valued at approximately $27,000. YANKCOM Partnership boosted its holdings in shares of U.S. Bancorp by 59.4% in 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 last quarter. Alpine Bank Wealth Management acquired a new stake in shares of U.S. Bancorp in the first quarter worth $30,000. REAP Financial Group LLC raised its holdings in shares of U.S. Bancorp by 86.1% during the fourth quarter. REAP Financial Group LLC now owns 642 shares of the financial services provider's stock worth $31,000 after purchasing an additional 297 shares during the last quarter. Finally, Cornerstone Planning Group LLC lifted its position in U.S. Bancorp by 118.0% during the first quarter. Cornerstone Planning Group LLC now owns 776 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 420 shares during the period. 77.60% of the stock is owned by institutional investors and hedge funds.

U.S. Bancorp Trading Down 0.2%

Shares of U.S. Bancorp stock opened at $44.45 on Thursday. 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 has a twelve month low of $35.18 and a twelve month high of $53.98. The firm has a market capitalization of $69.26 billion, a PE ratio of 10.63, a P/E/G ratio of 1.40 and a beta of 1.01. The firm's 50-day moving average price is $45.24 and its 200 day moving average price is $44.02.

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, beating analysts' consensus estimates of $1.07 by $0.04. The business had revenue of $7.06 billion during the quarter, compared to analysts' expectations 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 revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.98 earnings per share. On average, sell-side analysts predict that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis 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%.

Insider Activity at U.S. Bancorp

In related news, EVP Souheil Badran sold 23,727 shares of the business's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $46.34, for a total transaction of $1,099,509.18. Following 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.23% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. The Goldman Sachs Group lifted their price objective 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. Raymond James Financial upgraded U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and lifted their price target for the company from $51.00 to $57.00 in a research report on Monday, July 7th. Keefe, Bruyette & Woods lowered their price objective on U.S. Bancorp from $54.00 to $49.00 and set a "market perform" rating on the stock in a research report on Thursday, April 17th. Evercore ISI raised their price objective on shares of U.S. Bancorp from $44.00 to $49.00 and gave the stock an "in-line" rating in a research note on Wednesday, June 4th. Finally, Oppenheimer boosted their target price on shares of U.S. Bancorp from $66.00 to $67.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price 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.

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