U.S. Bancorp $USB Shares Purchased by Crossmark Global Holdings Inc.

Key Points

• Crossmark Global Holdings increased its U.S. Bancorp stake by 3.9% in the third quarter to 465,154 shares valued at approximately $26.9 million. Institutional investors and hedge funds collectively own 77.6% of the company.
• Analysts maintain a positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $68.43, compared with the stock’s reported opening price of $59.08.
• U.S. Bancorp exceeded quarterly earnings expectations with $1.34 in EPS and $8.04 billion in revenue, while raising its quarterly dividend to $0.54 per share, equivalent to a 3.7% annualized yield.

Crossmark Global Holdings Inc. raised its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 3.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 465,154 shares of the financial services provider's stock after buying an additional 17,491 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in U.S. Bancorp were worth $26,867,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in USB. Dimensional Fund Advisors LP boosted its position in U.S. Bancorp by 0.9% during the first quarter. Dimensional Fund Advisors LP now owns 10,369,212 shares of the financial services provider's stock worth $539,232,000 after acquiring an additional 93,025 shares during the last quarter. Mufg Bank LTD. acquired a new stake in U.S. Bancorp in the 2nd quarter worth about $2,680,199,000. Wasatch Advisors LP acquired a new stake in U.S. Bancorp in the 1st quarter worth about $4,768,000. Illinois Municipal Retirement Fund boosted its stake in U.S. Bancorp by 57.1% in the 1st quarter. Illinois Municipal Retirement Fund now owns 92,257 shares of the financial services provider's stock worth $4,798,000 after buying an additional 33,517 shares during the last quarter. Finally, Cardinal Capital Management Inc. grew its holdings in U.S. Bancorp by 5.4% in the 2nd quarter. Cardinal Capital Management Inc. now owns 326,565 shares of the financial services provider's stock valued at $19,725,000 after buying an additional 16,814 shares during the period. Institutional investors and hedge funds own 77.60% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Wells Fargo & Company upped their price objective on shares of U.S. Bancorp from $66.00 to $69.00 and gave the company an "overweight" rating in a research note on Friday, July 17th. Jefferies Financial Group raised shares of U.S. Bancorp from a "hold" rating to a "buy" rating and raised their target price for the stock from $60.00 to $75.00 in a research report on Monday, July 6th. BTIG Research set a $67.50 target price on shares of U.S. Bancorp in a report on Monday, July 20th. TD Cowen started coverage on shares of U.S. Bancorp in a report on Thursday, October 8th. They issued a "buy" rating and a $70.00 target price for the company. Finally, Keefe, Bruyette & Woods upped their price target on shares of U.S. Bancorp from $63.00 to $66.00 and gave the stock a "market perform" rating in a research report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, U.S. Bancorp has a consensus rating of "Moderate Buy" and an average price target of $68.43.

Insider Transactions at U.S. Bancorp

In related news, CEO Gunjan Kedia sold 27,267 shares of the stock in a transaction on Friday, August 28th. The stock was sold at an average price of $62.37, for a total value of $1,700,642.79. Following the completion of the sale, the chief executive officer directly owned 426,262 shares in the company, valued at approximately $26,585,960.94. This represents a 6.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.21% of the company's stock.

U.S. Bancorp Price Performance

U.S. Bancorp stock opened at $59.08 on Thursday. U.S. Bancorp has a 52-week low of $45.02 and a 52-week high of $66.07. The firm has a fifty day moving average of $60.47 and a 200-day moving average of $59.20. The firm has a market capitalization of $92.04 billion, a P/E ratio of 11.52, a PEG ratio of 1.13 and a beta of 1.00. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.87.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its earnings results on Thursday, October 15th. The financial services provider reported $1.34 EPS for the quarter, beating analysts' consensus estimates of $1.32 by $0.02. The business had revenue of $8.04 billion for the quarter, compared to the consensus estimate of $8 billion. U.S. Bancorp had a net margin of 18.85% and a return on equity of 13.85%. The business's revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.22 EPS. As a group, analysts predict that U.S. Bancorp will post 5.29 EPS for the current year.

U.S. Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were given a dividend of $0.54 per share. This is a positive change from U.S. Bancorp's previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $2.16 dividend on an annualized basis and a yield of 3.7%. U.S. Bancorp's dividend payout ratio is currently 42.11%.

U.S. Bancorp Profile

U.S. Bancorp NYSE: USB is a financial services holding company headquartered in Minneapolis, Minnesota, and the parent company of U.S. Bank National Association. U.S. Bank provides banking, lending, payment, investment and wealth-management services to individuals, businesses, institutions and government entities.

The company's consumer and business banking operations offer deposit accounts, mortgages, home-equity and consumer loans, credit cards, small-business banking and commercial lending.

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