Tocqueville Asset Management L.P. Grows Position in U.S. Bancorp $USB

Tocqueville Asset Management L.P. lifted its position in shares of U.S. Bancorp (NYSE:USB) by 2.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 558,186 shares of the financial services provider’s stock after purchasing an additional 12,790 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in U.S. Bancorp were worth $26,977,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in USB. Chemung Canal Trust Co. grew its position in U.S. Bancorp by 205.5% during the third quarter. Chemung Canal Trust Co. now owns 68,327 shares of the financial services provider’s stock valued at $3,302,000 after buying an additional 45,963 shares during the period. Citigroup Inc. raised its position in shares of U.S. Bancorp by 2.4% in the third quarter. Citigroup Inc. now owns 1,749,812 shares of the financial services provider’s stock worth $84,568,000 after acquiring an additional 41,803 shares during the period. Jones Financial Companies Lllp boosted its stake in shares of U.S. Bancorp by 15.3% during the 3rd quarter. Jones Financial Companies Lllp now owns 358,972 shares of the financial services provider’s stock worth $17,738,000 after acquiring an additional 47,537 shares in the last quarter. Synergy Asset Management LLC grew its position in shares of U.S. Bancorp by 100.0% during the 3rd quarter. Synergy Asset Management LLC now owns 119,962 shares of the financial services provider’s stock valued at $5,428,000 after acquiring an additional 59,981 shares during the period. Finally, SteelPeak Wealth LLC grew its position in shares of U.S. Bancorp by 757.8% during the 3rd quarter. SteelPeak Wealth LLC now owns 176,500 shares of the financial services provider’s stock valued at $8,622,000 after acquiring an additional 155,925 shares during the period. 77.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on USB. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of U.S. Bancorp in a report on Wednesday, January 21st. HSBC reissued a “buy” rating and issued a $62.00 price objective on shares of U.S. Bancorp in a report on Wednesday, January 7th. DA Davidson upped their target price 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. TD Cowen increased their target price on U.S. Bancorp from $65.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, January 21st. Finally, Evercore lifted their price target on shares of U.S. Bancorp from $60.00 to $65.00 and gave the company an “in-line” rating in a research note on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, U.S. Bancorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.02.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, insider Mark G. Runkel sold 32,195 shares of U.S. Bancorp 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 sale, the insider owned 97,728 shares of the company’s stock, valued at $5,927,203.20. The trade was a 24.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.23% of the stock is currently owned by company insiders.

U.S. Bancorp Price Performance

NYSE:USB traded up $0.38 during trading hours on Friday, hitting $51.86. 1,991,354 shares of the stock were exchanged, compared to its average volume of 11,193,643. The firm’s fifty day moving average price is $55.92 and its 200 day moving average price is $51.56. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $61.19. The company has a market cap of $80.58 billion, a P/E ratio of 11.22, a P/E/G ratio of 0.93 and a beta of 1.04. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03.

U.S. Bancorp (NYSE:USB) last released its earnings results on Tuesday, January 20th. The financial services provider reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.07. The business had revenue of $7.92 billion for the quarter, compared to the consensus estimate of $7.31 billion. U.S. Bancorp had a return on equity of 13.48% and a net margin of 17.66%.The business’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.07 earnings per share. As a group, equities research analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be issued a $0.52 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $2.08 dividend on an annualized basis and a yield of 4.0%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 45.02%.

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.