Procyon Advisors LLC Raises Stock Position in U.S. Bancorp (NYSE:USB)

Procyon Advisors LLC grew its stake in U.S. Bancorp (NYSE:USB) by 34.3% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 27,214 shares of the financial services provider’s stock after purchasing an additional 6,945 shares during the period. Procyon Advisors LLC’s holdings in U.S. Bancorp were worth $1,056,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Capital Performance Advisors LLP boosted its stake in shares of U.S. Bancorp by 2.6% during the fourth quarter. Capital Performance Advisors LLP now owns 8,188 shares of the financial services provider’s stock worth $392,000 after buying an additional 210 shares during the period. Covestor Ltd raised its stake in U.S. Bancorp by 12.3% during the 4th quarter. Covestor Ltd now owns 1,955 shares of the financial services provider’s stock valued at $94,000 after acquiring an additional 214 shares during the last quarter. TrinityPoint Wealth LLC raised its stake in U.S. Bancorp by 2.3% during the 4th quarter. TrinityPoint Wealth LLC now owns 10,355 shares of the financial services provider’s stock valued at $495,000 after acquiring an additional 231 shares during the last quarter. CoreCap Advisors LLC lifted its position in U.S. Bancorp by 36.6% during the 4th quarter. CoreCap Advisors LLC now owns 904 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 242 shares during the period. Finally, Transcend Capital Advisors LLC grew its stake in shares of U.S. Bancorp by 5.1% in the 4th quarter. Transcend Capital Advisors LLC now owns 5,196 shares of the financial services provider’s stock valued at $249,000 after purchasing an additional 252 shares during the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

USB has been the subject of several analyst reports. Wall Street Zen cut U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday. Bank of America dropped their price objective on shares of U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating on the stock in a research note on Monday, March 17th. Wells Fargo & Company reduced their target price on shares of U.S. Bancorp from $56.00 to $50.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Piper Sandler lowered their target price on shares of U.S. Bancorp from $49.00 to $48.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Finally, Royal Bank of Canada cut their price target on shares of U.S. Bancorp from $57.00 to $50.00 and set an “outperform” rating for the company in a report on Thursday, April 17th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $50.67.

Insider Buying and Selling

In other U.S. Bancorp news, Director Aleem Gillani bought 5,000 shares of the company’s stock in a transaction on Monday, April 21st. The stock was purchased at an average cost of $37.32 per share, for a total transaction of $186,600.00. Following the acquisition, the director now owns 15,000 shares of the company’s stock, valued at $559,800. The trade was a 50.00% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.23% of the company’s stock.

U.S. Bancorp Price Performance

Shares of NYSE:USB opened at $44.76 on Friday. The firm has a market capitalization of $69.74 billion, a price-to-earnings ratio of 11.81, a price-to-earnings-growth ratio of 1.73 and a beta of 0.99. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.80. The business’s 50 day simple moving average is $41.15 and its 200-day simple moving average is $45.36. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $53.98.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.06. The firm had revenue of $6.96 billion during the quarter, compared to analysts’ expectations of $6.92 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. During the same period in the previous year, the firm posted $0.78 earnings per share. As a group, equities analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.47%. The ex-dividend date was Monday, March 31st. U.S. Bancorp’s dividend payout ratio (DPR) is presently 49.50%.

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.