11,967 Shares in U.S. Bancorp $USB Bought by Independent Financial Group LLC

Independent Financial Group LLC bought a new stake in shares of U.S. Bancorp (NYSE:USB) in the first quarter, Holdings Channel reports. The fund bought 11,967 shares of the financial services provider’s stock, valued at approximately $622,000.

Other hedge funds also recently added to or reduced their stakes in the company. Clayton Financial Group LLC purchased a new position in shares of U.S. Bancorp during the 4th quarter valued at about $25,000. Financial Life Planners purchased a new stake in shares of U.S. Bancorp in the first quarter worth about $27,000. JPL Wealth Management LLC purchased a new stake in shares of U.S. Bancorp in the third quarter worth about $28,000. Binnacle Investments Inc grew its holdings in U.S. Bancorp by 77.8% during the third quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 273 shares during the period. Finally, NFSG Corp acquired a new stake in U.S. Bancorp during the first quarter worth about $31,000. 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, EVP Venkatachari Dilip sold 34,522 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the completion of the sale, the executive vice president directly owned 51,292 shares in the company, valued at approximately $2,847,731.84. The trade was a 40.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.21% of the stock is owned by corporate insiders.

U.S. Bancorp Stock Up 1.2%

Shares of USB opened at $64.48 on Thursday. The firm has a market cap of $100.02 billion, a P/E ratio of 12.87, a PEG ratio of 1.04 and a beta of 0.96. U.S. Bancorp has a 12 month low of $43.46 and a 12 month high of $64.84. The stock’s 50 day moving average is $58.48 and its two-hundred day moving average is $56.30. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.96.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Thursday, July 16th. The financial services provider reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.07. U.S. Bancorp had a return on equity of 13.69% and a net margin of 18.49%.The business had revenue of $7.71 billion during the quarter, compared to the consensus estimate of $7.58 billion. During the same period in the prior year, the company posted $1.11 EPS. Analysts predict that U.S. Bancorp will post 5.22 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.2%. U.S. Bancorp’s payout ratio is currently 41.52%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Royal Bank Of Canada lifted their price target on U.S. Bancorp from $61.00 to $68.00 and gave the company an “outperform” rating in a research report on Friday, July 17th. Citigroup reaffirmed a “buy” rating on shares of U.S. Bancorp in a research note on Tuesday. Keefe, Bruyette & Woods lifted their target price on shares of U.S. Bancorp from $63.00 to $66.00 and gave the company a “market perform” rating in a report on Friday, July 17th. Morgan Stanley boosted their target price on shares of U.S. Bancorp from $64.00 to $67.00 and gave the company an “equal weight” rating in a research note on Monday, June 29th. Finally, Stephens increased their price target on shares of U.S. Bancorp from $63.00 to $67.00 and gave the stock an “equal weight” rating in a report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $67.00.

U.S. Bancorp Profile

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.