Hohimer Wealth Management LLC Makes New Investment in U.S. Bancorp $USB

Hohimer Wealth Management LLC purchased a new position in shares of U.S. Bancorp (NYSE:USB) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 85,911 shares of the financial services provider’s stock, valued at approximately $4,152,000.

A number of other institutional investors have also recently made changes to their positions in USB. Vanguard Group Inc. increased its stake in U.S. Bancorp by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 144,548,379 shares of the financial services provider’s stock worth $6,986,023,000 after buying an additional 1,279,104 shares during the period. Geode Capital Management LLC grew its stake in shares of U.S. Bancorp by 1.3% in the second quarter. Geode Capital Management LLC now owns 36,632,410 shares of the financial services provider’s stock worth $1,650,305,000 after acquiring an additional 456,890 shares in the last quarter. Norges Bank purchased a new stake in shares of U.S. Bancorp during the second quarter worth $971,285,000. Davis Selected Advisers increased its position in shares of U.S. Bancorp by 29.8% during the second quarter. Davis Selected Advisers now owns 19,331,637 shares of the financial services provider’s stock worth $874,757,000 after acquiring an additional 4,442,623 shares during the period. Finally, Grantham Mayo Van Otterloo & Co. LLC raised its stake in shares of U.S. Bancorp by 3.7% in the second quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 16,569,422 shares of the financial services provider’s stock valued at $749,766,000 after acquiring an additional 585,968 shares in the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Price Performance

Shares of NYSE USB opened at $57.27 on Friday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two week high of $61.19. The firm has a market capitalization of $88.98 billion, a PE ratio of 12.40, a price-to-earnings-growth ratio of 1.00 and a beta of 1.06. The stock’s 50-day simple moving average is $56.16 and its 200-day simple moving average is $51.09.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Tuesday, January 20th. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.07. The firm had revenue of $7.92 billion during 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 firm’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.07 earnings per share. As a group, equities research analysts forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis 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 45.02%.

Insider Buying and Selling

In related news, insider Mark G. Runkel sold 32,195 shares of the business’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $60.65, for a total value of $1,952,626.75. Following the completion of the sale, the insider directly owned 97,728 shares of the company’s stock, valued at $5,927,203.20. The trade was a 24.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.23% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on USB shares. HSBC reissued a “buy” rating and set a $62.00 target price on shares of U.S. Bancorp in a research note on Wednesday, January 7th. DA Davidson lifted their price objective on U.S. Bancorp from $63.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, January 21st. UBS Group reissued a “neutral” rating and set a $60.00 price objective on shares of U.S. Bancorp in a research report on Wednesday, February 4th. Keefe, Bruyette & Woods raised their target price on shares of U.S. Bancorp from $58.00 to $59.00 and gave the company a “market perform” rating in a report on Wednesday, January 21st. Finally, Argus lifted their price target on shares of U.S. Bancorp from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $60.02.

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.