Summitry LLC Acquires 9,008 Shares of U.S. Bancorp $USB

Summitry LLC lifted its stake in U.S. Bancorp (NYSE:USB) by 6.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 140,580 shares of the financial services provider’s stock after purchasing an additional 9,008 shares during the period. Summitry LLC’s holdings in U.S. Bancorp were worth $6,794,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Parcion Private Wealth LLC lifted its stake in U.S. Bancorp by 0.4% in the third quarter. Parcion Private Wealth LLC now owns 53,412 shares of the financial services provider’s stock valued at $2,581,000 after buying an additional 218 shares during the period. Bogart Wealth LLC raised its position in shares of U.S. Bancorp by 4.4% in the 3rd quarter. Bogart Wealth LLC now owns 5,507 shares of the financial services provider’s stock valued at $266,000 after acquiring an additional 234 shares during the period. Hoxton Planning & Management LLC raised its position in shares of U.S. Bancorp by 3.4% in the 3rd quarter. Hoxton Planning & Management LLC now owns 7,021 shares of the financial services provider’s stock valued at $339,000 after acquiring an additional 234 shares during the period. Allen Mooney & Barnes Investment Advisors LLC boosted its stake in U.S. Bancorp by 0.5% during the 3rd quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 43,289 shares of the financial services provider’s stock worth $2,092,000 after acquiring an additional 235 shares during the last quarter. Finally, Crestwood Advisors Group LLC grew its holdings in U.S. Bancorp by 3.5% during the second quarter. Crestwood Advisors Group LLC now owns 7,021 shares of the financial services provider’s stock valued at $318,000 after purchasing an additional 237 shares during the period. 77.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Mark G. Runkel sold 32,195 shares of the stock in a transaction on Friday, February 6th. The shares were sold at an average price of $60.65, for a total transaction of $1,952,626.75. Following the completion of the transaction, the insider owned 97,728 shares in the company, valued at approximately $5,927,203.20. This represents a 24.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.23% of the stock is owned by company insiders.

U.S. Bancorp Stock Performance

USB opened at $57.66 on Monday. The company has a market capitalization of $89.63 billion, a price-to-earnings ratio of 12.48, a P/E/G ratio of 1.03 and a beta of 1.06. The business’s 50-day moving average price is $55.43 and its two-hundred day moving average price is $50.37. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $61.19. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.07. U.S. Bancorp had a return on equity of 13.48% and a net margin of 17.66%.The company had revenue of $7.92 billion during the quarter, compared to analysts’ expectations of $7.31 billion. During the same period in the prior year, the firm earned $1.07 earnings per share. U.S. Bancorp’s revenue for the quarter was up 5.1% compared to the same quarter last year. Equities analysts expect that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Wednesday, December 31st. U.S. Bancorp’s dividend payout ratio (DPR) is currently 45.02%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on USB shares. Argus increased their target price on shares of U.S. Bancorp from $62.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. DA Davidson raised their price objective on U.S. Bancorp from $63.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, January 21st. Keefe, Bruyette & Woods lifted their target price on U.S. Bancorp from $58.00 to $59.00 and gave the stock a “market perform” rating in a report on Wednesday, January 21st. Barclays increased their price target on U.S. Bancorp from $56.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. Finally, Royal Bank Of Canada lifted their price objective on U.S. Bancorp from $57.00 to $59.00 and gave the company an “outperform” rating in a report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $59.79.

About U.S. Bancorp

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.