Palisade Asset Management LLC Grows Stock Position in U.S. Bancorp (NYSE:USB)

Palisade Asset Management LLC boosted its position in U.S. Bancorp (NYSE:USB) by 0.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 255,816 shares of the financial services provider’s stock after buying an additional 1,876 shares during the period. U.S. Bancorp makes up about 1.2% of Palisade Asset Management LLC’s holdings, making the stock its 29th biggest position. Palisade Asset Management LLC’s holdings in U.S. Bancorp were worth $11,072,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of USB. Charles Schwab Investment Management Inc. boosted its holdings in U.S. Bancorp by 8.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 33,719,110 shares of the financial services provider’s stock valued at $1,459,363,000 after purchasing an additional 2,598,163 shares in the last quarter. Northern Financial Advisors Inc acquired a new position in U.S. Bancorp during the fourth quarter worth $272,000. Apollon Wealth Management LLC raised its position in U.S. Bancorp by 33.5% in the fourth quarter. Apollon Wealth Management LLC now owns 25,621 shares of the financial services provider’s stock worth $1,109,000 after acquiring an additional 6,424 shares in the last quarter. Lincoln National Corp lifted its holdings in U.S. Bancorp by 5.6% in the fourth quarter. Lincoln National Corp now owns 69,646 shares of the financial services provider’s stock valued at $3,014,000 after acquiring an additional 3,708 shares during the period. Finally, Maryland State Retirement & Pension System boosted its position in shares of U.S. Bancorp by 3.6% during the 4th quarter. Maryland State Retirement & Pension System now owns 121,250 shares of the financial services provider’s stock worth $5,248,000 after purchasing an additional 4,194 shares in the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

U.S. Bancorp Stock Performance

U.S. Bancorp stock traded up $0.11 during mid-day trading on Wednesday, hitting $41.69. 8,555,971 shares of the company’s stock traded hands, compared to its average volume of 8,522,138. The company has a market cap of $65.06 billion, a PE ratio of 13.67, a price-to-earnings-growth ratio of 2.16 and a beta of 1.05. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 1.07. U.S. Bancorp has a one year low of $28.53 and a one year high of $45.85. The firm has a 50 day moving average price of $42.35 and a 200 day moving average price of $40.64.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. U.S. Bancorp had a return on equity of 13.93% and a net margin of 12.13%. The company had revenue of $6.72 billion for the quarter, compared to analyst estimates of $6.71 billion. During the same period in the previous year, the firm earned $1.16 earnings per share. U.S. Bancorp’s revenue for the quarter was down 6.4% compared to the same quarter last year. On average, equities analysts forecast that U.S. Bancorp will post 3.84 EPS for the current year.

U.S. Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.70%. The ex-dividend date was Wednesday, March 27th. U.S. Bancorp’s dividend payout ratio is 64.90%.

Insider Activity

In related news, EVP James L. Chosy sold 21,582 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $41.47, for a total transaction of $895,005.54. Following the completion of the transaction, the executive vice president now directly owns 164,880 shares in the company, valued at approximately $6,837,573.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.23% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on USB shares. Royal Bank of Canada raised their price objective on shares of U.S. Bancorp from $43.00 to $47.00 and gave the company an “outperform” rating in a research note on Thursday, January 18th. JPMorgan Chase & Co. decreased their price target on U.S. Bancorp from $45.00 to $43.50 and set an “overweight” rating on the stock in a research note on Wednesday, May 1st. Jefferies Financial Group raised their price objective on U.S. Bancorp from $44.00 to $46.00 and gave the company a “hold” rating in a research note on Monday, April 8th. StockNews.com downgraded U.S. Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, February 20th. Finally, HSBC upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and raised their price target for the company from $47.00 to $53.00 in a research report on Thursday, March 28th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $46.02.

U.S. Bancorp 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.