U.S. Bancorp $USB Shares Purchased by Ironwood Investment Counsel LLC

Ironwood Investment Counsel LLC increased its stake in U.S. Bancorp (NYSE:USB) by 2.9% in the 2nd quarter, Holdings Channel.com reports. The fund owned 151,806 shares of the financial services provider’s stock after acquiring an additional 4,270 shares during the quarter. U.S. Bancorp comprises approximately 1.0% of Ironwood Investment Counsel LLC’s investment portfolio, making the stock its 27th biggest position. Ironwood Investment Counsel LLC’s holdings in U.S. Bancorp were worth $6,869,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Brighton Jones LLC raised its holdings in shares of U.S. Bancorp by 323.0% during the fourth quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider’s stock valued at $2,309,000 after acquiring an additional 36,863 shares during the last quarter. MQS Management LLC purchased a new stake in shares of U.S. Bancorp during the first quarter worth approximately $228,000. Bleakley Financial Group LLC raised its stake in U.S. Bancorp by 5.7% in the 1st quarter. Bleakley Financial Group LLC now owns 47,646 shares of the financial services provider’s stock valued at $2,012,000 after purchasing an additional 2,562 shares during the last quarter. Edgestream Partners L.P. purchased a new position in U.S. Bancorp in the 1st quarter valued at $4,190,000. Finally, Signaturefd LLC boosted its stake in U.S. Bancorp by 2.1% during the 1st quarter. Signaturefd LLC now owns 23,020 shares of the financial services provider’s stock worth $972,000 after purchasing an additional 472 shares during the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at U.S. Bancorp

In related news, EVP James L. Chosy sold 26,909 shares of the company’s stock in a transaction on Monday, October 20th. The shares were 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 owned 226,375 shares in the company, valued at $10,607,932.50. This represents a 10.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Andrew Cecere sold 140,445 shares of the firm’s 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 directly owned 1,360,414 shares in the company, valued at $63,041,584.76. The trade was a 9.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Wells Fargo & Company upped their price objective 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. UBS Group boosted their price target on shares of U.S. Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a research report on Tuesday, October 7th. TD Cowen raised their price objective on shares of U.S. Bancorp from $59.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, October 20th. Wall Street Zen raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. Finally, The Goldman Sachs Group set a $52.00 price target on shares of U.S. Bancorp and gave the company a “neutral” rating in a research note on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, U.S. Bancorp has an average rating of “Moderate Buy” and a consensus target price of $54.55.

U.S. Bancorp Stock Up 0.1%

Shares of NYSE USB opened at $47.62 on Wednesday. The company has a market capitalization of $74.02 billion, a price-to-earnings ratio of 10.90, a price-to-earnings-growth ratio of 1.25 and a beta of 1.10. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.82 and a quick ratio of 0.82. The business has a 50-day moving average of $47.91 and a two-hundred day moving average of $45.99. 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 announced its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.22 EPS for the quarter, beating the consensus estimate of $1.11 by $0.11. The company had revenue of $7.34 billion for the quarter, compared to analyst estimates of $7.17 billion. U.S. Bancorp had a net margin of 16.89% and a return on equity of 13.34%. The firm’s revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.03 earnings per share. On average, analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The company also recently declared 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 4.4%. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Tuesday, September 30th. U.S. Bancorp’s dividend payout ratio is presently 47.60%.

U.S. Bancorp Company 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.