Procyon Advisors LLC Has $959,000 Position in U.S. Bancorp (NYSE:USB)

Procyon Advisors LLC lifted its stake in shares of U.S. Bancorp (NYSE:USB) by 36.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 22,164 shares of the financial services provider’s stock after buying 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 filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. increased its position in U.S. Bancorp by 5.0% during the third quarter. Vanguard Group Inc. now owns 136,513,206 shares of the financial services provider’s stock worth $4,513,127,000 after acquiring an additional 6,479,642 shares during the period. BlackRock Inc. increased its holdings in U.S. Bancorp by 6.0% in the 2nd quarter. BlackRock Inc. now owns 110,704,962 shares of the financial services provider’s stock valued at $3,657,692,000 after buying an additional 6,307,085 shares during the period. Mufg Bank LTD. increased its holdings in U.S. Bancorp by 54.1% in the 3rd quarter. Mufg Bank LTD. now owns 68,374,155 shares of the financial services provider’s stock valued at $2,260,450,000 after buying an additional 24,000,000 shares during the period. State Street Corp increased its holdings in U.S. Bancorp by 4.0% in the 2nd quarter. State Street Corp now owns 60,462,681 shares of the financial services provider’s stock valued at $2,026,405,000 after buying an additional 2,300,777 shares during the period. Finally, Moneta Group Investment Advisors LLC boosted its stake in shares of U.S. Bancorp by 130,768.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 60,273,882 shares of the financial services provider’s stock valued at $2,628,544,000 after purchasing an additional 60,227,825 shares in the last quarter. 77.60% of the stock is owned by institutional investors.

U.S. Bancorp Stock Up 1.1 %

Shares of USB traded up $0.47 during trading hours on Thursday, hitting $44.47. The company had a trading volume of 1,180,437 shares, compared to its average volume of 8,984,954. The firm has a fifty day moving average price of $41.92 and a 200-day moving average price of $38.80. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market capitalization of $69.29 billion, a price-to-earnings ratio of 13.41, a P/E/G ratio of 2.24 and a beta of 1.04. U.S. Bancorp has a 52-week low of $27.27 and a 52-week high of $45.85.

U.S. Bancorp (NYSE:USB) last issued 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. U.S. Bancorp had a return on equity of 14.89% and a net margin of 13.36%. The business had revenue of $6.76 billion during the quarter, compared to analyst estimates of $6.85 billion. During the same quarter in the previous year, the firm earned $1.20 EPS. U.S. Bancorp’s revenue was up 6.2% on a year-over-year basis. On average, equities research analysts forecast that U.S. Bancorp will post 3.89 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

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

Wall Street Analysts Forecast Growth

USB has been the topic of a number of research reports. Wells Fargo & Company boosted their target price on shares of U.S. Bancorp from $43.00 to $50.00 and gave the stock an “overweight” rating in a report on Thursday, December 14th. Oppenheimer reduced their price objective on shares of U.S. Bancorp from $61.00 to $55.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 19th. Barclays upped their price objective on shares of U.S. Bancorp from $48.00 to $56.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. Stephens lowered shares of U.S. Bancorp from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, December 20th. Finally, The Goldman Sachs Group boosted their target price on shares of U.S. Bancorp from $37.00 to $42.00 and gave the company a “neutral” rating in a research report on Tuesday, December 19th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $46.33.

Insiders Place Their Bets

In other news, EVP James L. Chosy sold 21,582 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $41.47, for a total transaction of $895,005.54. Following the sale, the executive vice president now directly owns 164,880 shares of the company’s stock, valued at approximately $6,837,573.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP James L. Chosy sold 21,582 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $41.47, for a total transaction of $895,005.54. Following the transaction, the executive vice president now owns 164,880 shares of the company’s stock, valued at approximately $6,837,573.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Terrance R. Dolan sold 26,583 shares of the stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $43.37, for a total value of $1,152,904.71. Following the transaction, 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. Insiders sold 60,265 shares of company stock worth $2,535,903 in the last three months. 0.23% of the stock is owned by company insiders.

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.