Country Trust Bank Purchases 2,163 Shares of U.S. Bancorp $USB

Country Trust Bank grew its holdings in shares of U.S. Bancorp (NYSE:USB) by 10,300.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,184 shares of the financial services provider’s stock after purchasing an additional 2,163 shares during the quarter. Country Trust Bank’s holdings in U.S. Bancorp were worth $99,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. IMG Wealth Management Inc. bought a new position in U.S. Bancorp in the second quarter worth approximately $25,000. Saudi Central Bank purchased a new stake in shares of U.S. Bancorp in the 1st quarter worth $26,000. Hillsdale Investment Management Inc. bought a new position in U.S. Bancorp in the 2nd quarter worth $27,000. Pineridge Advisors LLC lifted its position in U.S. Bancorp by 446.2% during the second quarter. Pineridge Advisors LLC now owns 639 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 522 shares in the last quarter. Finally, Activest Wealth Management grew its holdings in U.S. Bancorp by 846.5% during the second quarter. Activest Wealth Management now owns 814 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 728 shares during the period. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Insider Buying and Selling

In other U.S. Bancorp news, Chairman Andrew Cecere sold 140,445 shares of the firm’s stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $46.34, for a total transaction of $6,508,221.30. Following the completion of the transaction, the chairman owned 1,360,414 shares in the company, valued at $63,041,584.76. This trade represents a 9.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP James L. Chosy sold 26,909 shares of U.S. Bancorp stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $46.86, for a total value of $1,260,955.74. Following the completion of the sale, the executive vice president directly owned 226,375 shares in the company, valued at approximately $10,607,932.50. The trade was a 10.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.23% of the stock is currently owned by corporate insiders.

U.S. Bancorp Price Performance

USB stock opened at $49.00 on Thursday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.82 and a current ratio of 0.82. The company’s fifty day moving average price is $47.53 and its 200-day moving average price is $46.44. U.S. Bancorp has a one year low of $35.18 and a one year high of $53.98. The company has a market capitalization of $76.17 billion, a PE ratio of 11.21, a price-to-earnings-growth ratio of 1.25 and a beta of 1.10.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Thursday, October 16th. The financial services provider reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.11. The company had revenue of $7.34 billion during the quarter, compared to analysts’ expectations of $7.17 billion. U.S. Bancorp had a net margin of 16.89% and a return on equity of 13.34%. U.S. Bancorp’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period last year, the company posted $1.03 earnings per share. On average, equities analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were given a $0.52 dividend. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date was Tuesday, September 30th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 47.60%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. TD Cowen raised their price objective on U.S. Bancorp from $59.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, October 20th. Deutsche Bank Aktiengesellschaft upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $52.50 target price on the stock in a research note on Thursday, October 23rd. The Goldman Sachs Group set a $52.00 price target on shares of U.S. Bancorp and gave the stock a “neutral” rating in a research report on Friday, October 17th. Oppenheimer reduced their price objective on shares of U.S. Bancorp from $66.00 to $64.00 and set an “outperform” rating for the company in a research note on Wednesday, November 19th. Finally, Wells Fargo & Company lifted their target price on shares of U.S. Bancorp from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, U.S. Bancorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.45.

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.