Secure Asset Management LLC Purchases New Shares in U.S. Bancorp (NYSE:USB)

Secure Asset Management LLC acquired a new position in U.S. Bancorp (NYSE:USB) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 9,188 shares of the financial services provider’s stock, valued at approximately $365,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Naples Global Advisors LLC boosted its position in U.S. Bancorp by 0.4% during the 2nd quarter. Naples Global Advisors LLC now owns 65,360 shares of the financial services provider’s stock valued at $2,624,000 after acquiring an additional 248 shares in the last quarter. Kavar Capital Partners Group LLC lifted its position in U.S. Bancorp by 4.7% during the second quarter. Kavar Capital Partners Group LLC now owns 5,555 shares of the financial services provider’s stock valued at $221,000 after buying an additional 250 shares during the period. Motley Fool Wealth Management LLC boosted its holdings in shares of U.S. Bancorp by 0.7% during the 1st quarter. Motley Fool Wealth Management LLC now owns 38,362 shares of the financial services provider’s stock valued at $1,715,000 after buying an additional 251 shares in the last quarter. Vestor Capital LLC grew its position in shares of U.S. Bancorp by 1.5% in the 4th quarter. Vestor Capital LLC now owns 17,179 shares of the financial services provider’s stock worth $744,000 after buying an additional 253 shares during the period. Finally, Atlas Brown Inc. increased its stake in shares of U.S. Bancorp by 2.1% in the 2nd quarter. Atlas Brown Inc. now owns 12,697 shares of the financial services provider’s stock worth $504,000 after acquiring an additional 263 shares in the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Stock Performance

NYSE USB traded up $1.20 during trading hours on Friday, hitting $45.39. 5,094,524 shares of the company’s stock traded hands, compared to its average volume of 8,400,540. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.05. U.S. Bancorp has a 52 week low of $30.47 and a 52 week high of $45.88. The firm has a market capitalization of $70.83 billion, a P/E ratio of 15.03, a P/E/G ratio of 4.20 and a beta of 1.04. The business’s fifty day moving average price is $42.12 and its two-hundred day moving average price is $41.69.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.98 EPS for the quarter, topping the consensus estimate of $0.94 by $0.04. The firm had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.81 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. U.S. Bancorp’s revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.12 EPS. Equities research analysts predict that U.S. Bancorp will post 3.9 EPS for the current year.

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were given a dividend of $0.49 per share. The ex-dividend date was Friday, June 28th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.32%. U.S. Bancorp’s payout ratio is currently 64.90%.

Insider Activity at U.S. Bancorp

In other news, Director Aleem Gillani purchased 10,000 shares of the stock in a transaction on Thursday, July 18th. The shares were acquired at an average price of $44.99 per share, with a total value of $449,900.00. Following the completion of the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at $449,900. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.23% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on USB shares. Citigroup upped their price objective on shares of U.S. Bancorp from $45.00 to $49.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Wells Fargo & Company raised their price objective on U.S. Bancorp from $48.00 to $52.00 and gave the company an “overweight” rating in a research report on Thursday, July 18th. JPMorgan Chase & Co. downgraded U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 target price on the stock. in a report on Thursday, June 27th. Jefferies Financial Group reduced their price objective on shares of U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating for the company in a research note on Wednesday, July 3rd. Finally, Morgan Stanley boosted their price objective on shares of U.S. Bancorp from $47.00 to $54.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. Thirteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, U.S. Bancorp presently has an average rating of “Hold” and an average price target of $48.23.

U.S. Bancorp Company Profile

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.