Inceptionr LLC grew its position in shares of U.S. Bancorp (NYSE:USB – Free Report) by 50.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 41,582 shares of the financial services provider’s stock after buying an additional 13,968 shares during the quarter. U.S. Bancorp accounts for approximately 0.5% of Inceptionr LLC’s investment portfolio, making the stock its 8th biggest holding. Inceptionr LLC’s holdings in U.S. Bancorp were worth $2,163,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Brighton Jones LLC lifted its holdings in 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 worth $2,309,000 after acquiring an additional 36,863 shares during the period. Empowered Funds LLC grew its stake in U.S. Bancorp by 2.1% in the 1st quarter. Empowered Funds LLC now owns 34,411 shares of the financial services provider’s stock valued at $1,453,000 after purchasing an additional 714 shares during the period. Intech Investment Management LLC increased its position in shares of U.S. Bancorp by 18.9% during the 1st quarter. Intech Investment Management LLC now owns 39,276 shares of the financial services provider’s stock valued at $1,658,000 after purchasing an additional 6,252 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in shares of U.S. Bancorp during the 2nd quarter worth $425,000. Finally, Nebula Research & Development LLC bought a new stake in shares of U.S. Bancorp during the 2nd quarter worth $701,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.
Insider Activity at U.S. Bancorp
In related news, EVP Venkatachari Dilip sold 34,522 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total value of $1,916,661.44. Following the completion of the transaction, the executive vice president directly owned 51,292 shares of the company’s stock, valued at approximately $2,847,731.84. This trade represents a 40.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.21% of the company’s stock.
U.S. Bancorp Trading Down 1.8%
U.S. Bancorp (NYSE:USB – Get Free Report) last released its quarterly earnings data on Thursday, July 16th. The financial services provider reported $1.35 EPS for the quarter, beating the consensus estimate of $1.28 by $0.07. The business had revenue of $7.71 billion for the quarter, compared to the consensus estimate of $7.58 billion. U.S. Bancorp had a net margin of 18.49% and a return on equity of 13.69%. During the same period in the prior year, the firm earned $1.11 earnings per share. As a group, research analysts forecast that U.S. Bancorp will post 5.22 EPS for the current year.
U.S. Bancorp Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid 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%.
Analyst Ratings Changes
Several equities analysts recently weighed in on USB shares. Royal Bank Of Canada increased their price target on shares of U.S. Bancorp from $61.00 to $68.00 and gave the company an “outperform” rating in a research report on Friday, July 17th. Oppenheimer lifted their price objective on shares of U.S. Bancorp from $73.00 to $77.00 and gave the stock an “outperform” rating in a research report on Friday, July 17th. Evercore upgraded shares of U.S. Bancorp from an “in-line” rating to an “outperform” rating and set a $72.00 target price on the stock in a research note on Monday. Stephens increased their target price on shares of U.S. Bancorp from $63.00 to $67.00 and gave the company an “equal weight” rating in a research report on Friday, July 17th. Finally, Raymond James Financial assumed 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 for the company. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, U.S. Bancorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.
View Our Latest Analysis on U.S. Bancorp
About U.S. Bancorp
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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