Forum Financial Management LP Has $1.16 Million Stock Position in U.S. Bancorp $USB

Forum Financial Management LP grew its position in shares of U.S. Bancorp (NYSE:USB) by 2.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,724 shares of the financial services provider’s stock after acquiring an additional 643 shares during the quarter. Forum Financial Management LP’s holdings in U.S. Bancorp were worth $1,164,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of USB. Ethic Inc. boosted its holdings in shares of U.S. Bancorp by 13.5% in the 2nd quarter. Ethic Inc. now owns 236,852 shares of the financial services provider’s stock valued at $10,838,000 after buying an additional 28,242 shares during the last quarter. Exencial Wealth Advisors LLC boosted its holdings in shares of U.S. Bancorp by 27.1% in the 2nd quarter. Exencial Wealth Advisors LLC now owns 26,132 shares of the financial services provider’s stock valued at $1,182,000 after buying an additional 5,574 shares during the last quarter. Brookstone Capital Management boosted its holdings in shares of U.S. Bancorp by 3.5% in the 2nd quarter. Brookstone Capital Management now owns 272,949 shares of the financial services provider’s stock valued at $12,351,000 after buying an additional 9,156 shares during the last quarter. Schulhoff & Co. Inc. boosted its holdings in shares of U.S. Bancorp by 0.3% in the 2nd quarter. Schulhoff & Co. Inc. now owns 94,304 shares of the financial services provider’s stock valued at $4,267,000 after buying an additional 263 shares during the last quarter. Finally, D.A. Davidson & CO. boosted its holdings in shares of U.S. Bancorp by 6.0% in the 2nd quarter. D.A. Davidson & CO. now owns 404,837 shares of the financial services provider’s stock valued at $18,319,000 after buying an additional 22,951 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Stock Up 1.1%

USB opened at $47.84 on Friday. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $53.98. The stock’s fifty day simple moving average is $48.05 and its 200 day simple moving average is $45.05. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.10. The stock has a market cap of $74.45 billion, a PE ratio of 10.95, a price-to-earnings-growth ratio of 1.26 and a beta of 1.06.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.11. The business had revenue of $7.34 billion for the quarter, compared to analysts’ expectations of $7.17 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.03 EPS. As a group, research analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.3%. The ex-dividend date was Tuesday, September 30th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.50. U.S. Bancorp’s dividend payout ratio (DPR) is 47.60%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of U.S. Bancorp in a report on Wednesday, October 8th. UBS Group increased their price objective on U.S. Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a report on Tuesday, October 7th. Deutsche Bank Aktiengesellschaft raised U.S. Bancorp from a “hold” rating to a “buy” rating and set a $52.50 price objective for the company in a report on Thursday. Cowen restated a “buy” rating on shares of U.S. Bancorp in a research note on Monday. Finally, Raymond James Financial upgraded U.S. Bancorp from an “outperform” rating to a “strong-buy” rating and increased their price target for the company from $51.00 to $57.00 in a research note on Monday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, U.S. Bancorp currently has a consensus rating of “Moderate Buy” and an average price target of $54.55.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, Chairman Andrew Cecere sold 140,445 shares of the stock in a transaction 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 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 Securities & Exchange Commission, which is available at this hyperlink. Also, EVP James L. Chosy sold 26,909 shares of the stock in a transaction 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 transaction, the executive vice president owned 226,375 shares in the company, valued at $10,607,932.50. The trade was a 10.62% decrease in their position. The disclosure for this sale can be found here. 0.23% of the stock is owned by company insiders.

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.