Procyon Advisors LLC Buys 5,924 Shares of U.S. Bancorp (NYSE:USB)

Procyon Advisors LLC lifted its stake in shares of U.S. Bancorp (NYSE:USB) by 36.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 22,164 shares of the financial services provider’s stock after purchasing an additional 5,924 shares during the quarter. Procyon Advisors LLC’s holdings in U.S. Bancorp were worth $959,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in USB. CGC Financial Services LLC bought a new stake in shares of U.S. Bancorp during the 4th quarter valued at $25,000. BKM Wealth Management LLC bought a new position in U.S. Bancorp in the 4th quarter worth about $26,000. Planned Solutions Inc. bought a new position in U.S. Bancorp in the 4th quarter worth about $27,000. Legacy Financial Group LLC bought a new position in U.S. Bancorp in the 3rd quarter worth about $30,000. Finally, First Command Advisory Services Inc. bought a new position in U.S. Bancorp in the 3rd quarter worth about $35,000. 77.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on USB shares. Barclays upped their target price on U.S. Bancorp from $48.00 to $56.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. Robert W. Baird cut U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $52.00 price objective for the company. in a report on Friday, December 15th. Compass Point upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $46.00 to $49.00 in a report on Friday, March 22nd. UBS Group increased their target price on U.S. Bancorp from $35.00 to $48.00 and gave the company a “neutral” rating in a report on Wednesday, January 17th. Finally, Oppenheimer dropped their target price on U.S. Bancorp from $61.00 to $55.00 and set an “outperform” rating for the company in a report on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $46.33.

Insider Buying and Selling at U.S. Bancorp

In related news, insider Terrance R. Dolan sold 26,583 shares of U.S. Bancorp stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $43.37, for a total value of $1,152,904.71. Following the completion of the sale, the insider now owns 144,236 shares in the company, valued at approximately $6,255,515.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other U.S. Bancorp news, EVP James L. Chosy sold 21,582 shares of U.S. Bancorp stock in a transaction on Friday, February 16th. The shares were sold at an average price of $41.47, for a total value of $895,005.54. Following the transaction, the executive vice president now owns 164,880 shares in the company, valued at approximately $6,837,573.60. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Terrance R. Dolan sold 26,583 shares of U.S. Bancorp stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $43.37, for a total transaction of $1,152,904.71. Following the sale, the insider now directly owns 144,236 shares in the company, valued at approximately $6,255,515.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 60,265 shares of company stock worth $2,535,903. Insiders own 0.23% of the company’s stock.

U.S. Bancorp Trading Up 1.1 %

Shares of NYSE:USB traded up $0.47 during trading hours on Thursday, hitting $44.47. 1,180,437 shares of the company’s stock traded hands, compared to its average volume of 8,984,954. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market capitalization of $69.29 billion, a P/E ratio of 13.41, a price-to-earnings-growth ratio of 2.24 and a beta of 1.04. The business has a fifty day moving average price of $41.92 and a 200-day moving average price of $38.80. U.S. Bancorp has a 1 year low of $27.27 and a 1 year high of $45.85.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, January 17th. The financial services provider reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.28. The company had revenue of $6.76 billion during the quarter, compared to analyst estimates of $6.85 billion. U.S. Bancorp had a return on equity of 14.89% and a net margin of 13.36%. U.S. Bancorp’s revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.20 earnings per share. Equities analysts expect that U.S. Bancorp will post 3.89 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 29th will be paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 4.41%. The ex-dividend date is Wednesday, March 27th. U.S. Bancorp’s dividend payout ratio is presently 59.76%.

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.