U.S. Bancorp (NYSE:USB) Shares Purchased by Perennial Advisors LLC

Perennial Advisors LLC grew its holdings in shares of U.S. Bancorp (NYSE:USB) by 7.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 99,723 shares of the financial services provider’s stock after buying an additional 7,241 shares during the period. Perennial Advisors LLC’s holdings in U.S. Bancorp were worth $4,211,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of USB. J.Safra Asset Management Corp purchased a new stake in U.S. Bancorp during the 4th quarter worth about $26,000. FPC Investment Advisory Inc. purchased a new stake in U.S. Bancorp during the 4th quarter worth about $28,000. Stonebridge Financial Group LLC purchased a new stake in U.S. Bancorp during the 4th quarter worth about $30,000. Picton Mahoney Asset Management purchased a new stake in U.S. Bancorp during the 4th quarter worth about $30,000. Finally, Millstone Evans Group LLC purchased a new stake in U.S. Bancorp during the 4th 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, Director Aleem Gillani purchased 5,000 shares of U.S. Bancorp 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.23% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Oppenheimer lifted their price target on U.S. Bancorp from $57.00 to $59.00 and gave the stock an “outperform” rating in a report on Monday, April 28th. Wells Fargo & Company reduced their target price on U.S. Bancorp from $56.00 to $50.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $43.50 target price (down from $51.00) on shares of U.S. Bancorp in a report on Thursday, April 3rd. Bank of America reduced their target price on U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating for the company in a report on Monday, March 17th. Finally, Citigroup reduced their target price on U.S. Bancorp from $65.00 to $55.00 and set a “buy” rating for the company in a report on Monday, March 24th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $50.67.

U.S. Bancorp Stock Performance

USB opened at $44.76 on Friday. The stock has a market cap of $69.74 billion, a P/E ratio of 11.81, a P/E/G 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 stock’s 50 day simple moving average is $41.15 and its 200 day simple moving average is $45.36. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $53.98.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.06. The business had revenue of $6.96 billion for 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 quarter in the prior year, the firm posted $0.78 EPS. As a group, equities analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.47%. The ex-dividend date was Monday, March 31st. U.S. Bancorp’s payout ratio is currently 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.