HORAN Wealth LLC Acquires 36,904 Shares of U.S. Bancorp $USB

HORAN Wealth LLC increased its stake in shares of U.S. Bancorp (NYSE:USB) by 100.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 73,608 shares of the financial services provider’s stock after buying an additional 36,904 shares during the period. HORAN Wealth LLC’s holdings in U.S. Bancorp were worth $3,847,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of U.S. Bancorp during the fourth quarter valued at approximately $1,887,497,000. Auto Owners Insurance Co raised its position in U.S. Bancorp by 5,236.0% in the 4th quarter. Auto Owners Insurance Co now owns 33,350,000 shares of the financial services provider’s stock worth $1,779,556,000 after purchasing an additional 32,725,000 shares during the last quarter. Capital Research Global Investors acquired a new position in U.S. Bancorp during the 4th quarter worth $296,377,000. SG Americas Securities LLC lifted its holdings in U.S. Bancorp by 3,451.9% during the 4th quarter. SG Americas Securities LLC now owns 4,332,659 shares of the financial services provider’s stock worth $231,191,000 after buying an additional 4,210,676 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in U.S. Bancorp by 20.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 24,919,079 shares of the financial services provider’s stock valued at $1,329,683,000 after buying an additional 4,153,080 shares during the last quarter. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Trading Up 0.0%

NYSE:USB opened at $63.15 on Tuesday. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.96. U.S. Bancorp has a 1-year low of $43.46 and a 1-year high of $64.84. The firm has a market capitalization of $97.95 billion, a price-to-earnings ratio of 12.60, a PEG ratio of 1.07 and a beta of 0.96. The business’s 50-day moving average price is $58.06 and its two-hundred day moving average price is $56.15.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Thursday, July 16th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.07. The company had revenue of $7.71 billion during the quarter, compared to analyst estimates of $7.58 billion. U.S. Bancorp had a return on equity of 13.69% and a net margin of 18.49%.During the same period in the previous year, the company earned $1.11 EPS. On average, equities analysts expect that U.S. Bancorp will post 5.18 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a dividend of $0.52 per share. The ex-dividend date was Tuesday, June 30th. This represents a $2.08 dividend on an annualized basis and a yield of 3.3%. U.S. Bancorp’s payout ratio is currently 41.52%.

Insider Buying and Selling

In other U.S. Bancorp news, EVP Venkatachari Dilip sold 34,522 shares of the company’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 sale, the executive vice president owned 51,292 shares of the company’s stock, valued at approximately $2,847,731.84. This represents a 40.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.21% of the company’s stock.

U.S. Bancorp News Summary

Here are the key news stories impacting U.S. Bancorp this week:

• Positive Sentiment: Evercore upgraded U.S. Bancorp (USB) from “in-line” to “outperform” and set a $72 price target, implying meaningful upside from current levels. Read More
• Positive Sentiment: JPMorgan upgraded U.S. Bancorp (USB) from “underweight” to “neutral” and raised its target to $67.50, citing improving prospects tied to growth in fee revenue. Read More
• Positive Sentiment: Several recent articles highlighted U.S. Bancorp (USB) as a strong dividend stock, reinforcing the bank’s appeal to income-focused investors. Article
• Neutral Sentiment: Additional coverage compared USB with other finance stocks this year, but did not indicate a major new fundamental catalyst. Article

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on USB shares. JPMorgan Chase & Co. upgraded U.S. Bancorp from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $65.00 to $67.50 in a research report on Monday. Oppenheimer lifted their price objective on U.S. Bancorp from $73.00 to $77.00 and gave the stock an “outperform” rating in a research report on Friday. UBS Group upped their target price on shares of U.S. Bancorp from $58.00 to $66.00 and gave the company a “neutral” rating in a research report on Tuesday, July 7th. CLSA set a $67.50 price target on shares of U.S. Bancorp in a research report on Monday. Finally, Keefe, Bruyette & Woods increased their price objective on shares of U.S. Bancorp from $63.00 to $66.00 and gave the company a “market perform” rating in a report on Friday. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

U.S. Bancorp Company 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.