U.S. Bancorp (NYSE:USB) Shares Bought by Matrix Asset Advisors Inc. NY

Matrix Asset Advisors Inc. NY lifted its stake in U.S. Bancorp (NYSE:USB - Free Report) by 6.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 662,406 shares of the financial services provider's stock after purchasing an additional 40,788 shares during the quarter. U.S. Bancorp comprises about 3.1% of Matrix Asset Advisors Inc. NY's portfolio, making the stock its 11th largest holding. Matrix Asset Advisors Inc. NY's holdings in U.S. Bancorp were worth $27,967,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. J.Safra Asset Management Corp purchased a new position in U.S. Bancorp during the 4th quarter worth approximately $26,000. FPC Investment Advisory Inc. purchased a new position in U.S. Bancorp during the 4th quarter worth approximately $28,000. Picton Mahoney Asset Management purchased a new position in U.S. Bancorp during the 4th quarter worth approximately $30,000. Millstone Evans Group LLC purchased a new position in U.S. Bancorp during the 4th quarter worth approximately $31,000. Finally, REAP Financial Group LLC raised its position 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 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 other U.S. Bancorp news, Director Aleem Gillani bought 5,000 shares of the stock in a transaction on Monday, April 21st. The shares were bought at an average price of $37.32 per share, with a total value of $186,600.00. Following the purchase, the director now directly owns 15,000 shares in the company, valued at $559,800. This trade represents a 50.00% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.23% of the stock is owned by corporate insiders.

U.S. Bancorp Price Performance

U.S. Bancorp stock traded up $0.07 during trading on Friday, reaching $43.34. The company had a trading volume of 21,354,696 shares, compared to its average volume of 9,171,085. The firm's 50-day simple moving average is $42.25 and its 200 day simple moving average is $44.68. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $53.98. The firm 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. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.80.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 firm had revenue of $6.96 billion for the quarter, compared to analysts' expectations of $6.92 billion. During the same quarter last year, the company earned $0.78 EPS. As a group, equities research analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.00 dividend on an annualized basis and a yield of 4.61%. U.S. Bancorp's dividend payout ratio is currently 49.50%.

Analysts Set New Price Targets

A number of research firms have issued reports on USB. Morgan Stanley reduced their price target on shares of U.S. Bancorp from $51.00 to $50.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. DA Davidson reduced their price target on shares of U.S. Bancorp from $54.00 to $49.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Evercore ISI raised their price target on shares of U.S. Bancorp from $44.00 to $49.00 and gave the stock an "in-line" rating in a research report on Wednesday, June 4th. Wells Fargo & Company dropped 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 research note on Thursday, April 17th. Finally, The Goldman Sachs Group raised their price objective on shares of U.S. Bancorp from $41.00 to $46.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 10th. Two research analysts have rated the stock with a sell rating, eight have given 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 an average rating of "Moderate Buy" and a consensus target price of $50.72.

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.