Fifth Third Wealth Advisors LLC Makes New Investment in U.S. Bancorp (NYSE:USB)

Fifth Third Wealth Advisors LLC bought a new position in shares of U.S. Bancorp (NYSE:USB) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 7,215 shares of the financial services provider’s stock, valued at approximately $323,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Hengehold Capital Management LLC boosted its stake in shares of U.S. Bancorp by 0.5% in the 1st quarter. Hengehold Capital Management LLC now owns 112,845 shares of the financial services provider’s stock valued at $5,044,000 after purchasing an additional 593 shares during the last quarter. Lockerman Financial Group Inc. bought a new stake in shares of U.S. Bancorp in the 1st quarter valued at $200,000. Shulman DeMeo Asset Management LLC boosted its stake in shares of U.S. Bancorp by 7.8% in the 1st quarter. Shulman DeMeo Asset Management LLC now owns 5,275 shares of the financial services provider’s stock valued at $236,000 after purchasing an additional 382 shares during the last quarter. Viking Fund Management LLC boosted its stake in shares of U.S. Bancorp by 666.7% in the 1st quarter. Viking Fund Management LLC now owns 1,840 shares of the financial services provider’s stock valued at $82,000 after purchasing an additional 1,600 shares during the last quarter. Finally, Corundum Group Inc. boosted its stake in shares of U.S. Bancorp by 32.9% in the 1st quarter. Corundum Group Inc. now owns 26,214 shares of the financial services provider’s stock valued at $1,172,000 after purchasing an additional 6,491 shares during the last quarter. 77.60% of the stock is owned by institutional investors.

U.S. Bancorp Stock Down 0.1 %

Shares of USB stock traded down $0.03 on Thursday, hitting $39.68. The stock had a trading volume of 6,871,579 shares, compared to its average volume of 8,377,458. The business has a 50 day moving average of $40.36 and a 200 day moving average of $41.71. The stock has a market cap of $61.92 billion, a price-to-earnings ratio of 13.14, a price-to-earnings-growth ratio of 3.85 and a beta of 1.04. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.82 and a quick ratio of 0.81. U.S. Bancorp has a 12-month low of $30.47 and a 12-month high of $45.85.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, April 17th. The financial services provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.89 by $0.01. The company had revenue of $6.72 billion during the quarter, compared to the consensus estimate of $6.71 billion. U.S. Bancorp had a net margin of 12.13% and a return on equity of 13.93%. The firm’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.16 earnings per share. As a group, analysts expect that U.S. Bancorp will post 3.84 EPS for the current year.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a dividend of $0.49 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.96 annualized dividend and a yield of 4.94%. U.S. Bancorp’s payout ratio is currently 64.90%.

Analysts Set New Price Targets

A number of research firms have recently commented on USB. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $47.00 price objective on shares of U.S. Bancorp in a research note on Thursday, May 16th. Evercore ISI boosted their target price on shares of U.S. Bancorp from $45.00 to $48.00 and gave the company an “in-line” rating in a research report on Tuesday. Morgan Stanley reiterated an “equal weight” rating and set a $45.00 target price on shares of U.S. Bancorp in a research report on Friday, June 21st. DA Davidson dropped their target price on shares of U.S. Bancorp from $45.00 to $44.00 and set a “neutral” rating on the stock in a research report on Thursday, April 18th. Finally, Wells Fargo & Company dropped their target price on shares of U.S. Bancorp from $50.00 to $48.00 and set an “overweight” rating on the stock in a research report on Thursday, April 18th. Sixteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, U.S. Bancorp has a consensus rating of “Hold” and a consensus target price of $46.02.

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.