Lido Advisors LLC raised its holdings in shares of U.S. Bancorp (NYSE:USB – Free Report) by 31.2% in the 1st quarter, HoldingsChannel.com reports. The fund owned 248,772 shares of the financial services provider’s stock after purchasing an additional 59,230 shares during the period. Lido Advisors LLC’s holdings in U.S. Bancorp were worth $12,994,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in USB. Clayton Financial Group LLC purchased a new position in shares of U.S. Bancorp in the 4th quarter worth $25,000. Financial Life Planners acquired a new position in shares of U.S. Bancorp in the 1st quarter valued at about $27,000. JPL Wealth Management LLC acquired a new position in shares of U.S. Bancorp in the 3rd quarter valued at about $28,000. Main Street Group LTD purchased a new stake in shares of U.S. Bancorp during the 1st quarter worth about $28,000. Finally, Binnacle Investments Inc increased its position in U.S. Bancorp by 77.8% during the 3rd quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 273 shares in the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.
U.S. Bancorp Stock Performance
Shares of USB opened at $63.28 on Friday. The business’s fifty day moving average price is $58.68 and its 200 day moving average price is $56.37. U.S. Bancorp has a 12-month low of $43.46 and a 12-month high of $64.84. The stock has a market capitalization of $98.16 billion, a PE ratio of 12.63, a price-to-earnings-growth ratio of 1.06 and a beta of 0.96. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.83 and a quick ratio of 0.82.
U.S. Bancorp Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Tuesday, June 30th. U.S. Bancorp’s dividend payout ratio is presently 41.52%.
Wall Street Analyst Weigh In
Several research analysts recently commented on the stock. Weiss Ratings upgraded shares of U.S. Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Barclays increased their target price on U.S. Bancorp from $67.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday, July 17th. Citigroup restated a “buy” rating on shares of U.S. Bancorp in a research note on Tuesday. Morgan Stanley raised their price target on shares of U.S. Bancorp from $64.00 to $67.00 and gave the company an “equal weight” rating in a report on Monday, June 29th. Finally, Raymond James Financial started coverage on shares of U.S. Bancorp in a research note on Wednesday, July 8th. They set a “strong-buy” rating and a $72.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $67.00.
Check Out Our Latest Analysis on U.S. Bancorp
Insider Activity at U.S. Bancorp
In other news, EVP Venkatachari Dilip sold 34,522 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the completion of the transaction, the executive vice president owned 51,292 shares in the company, valued at approximately $2,847,731.84. This represents a 40.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.21% of the company’s stock.
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.
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