U.S. Bancorp (NYSE:USB) Shares Acquired by Corundum Group Inc.

Corundum Group Inc. lifted its position in shares of U.S. Bancorp (NYSE:USB) by 32.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,214 shares of the financial services provider’s stock after purchasing an additional 6,491 shares during the period. Corundum Group Inc.’s holdings in U.S. Bancorp were worth $1,172,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Cary Street Partners Investment Advisory LLC increased its stake in U.S. Bancorp by 35.5% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 16,776 shares of the financial services provider’s stock valued at $555,000 after purchasing an additional 4,391 shares during the last quarter. Natixis Advisors L.P. increased its stake in U.S. Bancorp by 1.0% during the third quarter. Natixis Advisors L.P. now owns 377,421 shares of the financial services provider’s stock valued at $12,478,000 after purchasing an additional 3,691 shares during the last quarter. Profund Advisors LLC increased its stake in U.S. Bancorp by 1.7% during the third quarter. Profund Advisors LLC now owns 21,357 shares of the financial services provider’s stock valued at $706,000 after purchasing an additional 356 shares during the last quarter. Operose Advisors LLC increased its stake in U.S. Bancorp by 24.3% during the third quarter. Operose Advisors LLC now owns 4,521 shares of the financial services provider’s stock valued at $149,000 after purchasing an additional 884 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC increased its stake in U.S. Bancorp by 11.3% during the third quarter. O Shaughnessy Asset Management LLC now owns 177,831 shares of the financial services provider’s stock valued at $5,879,000 after purchasing an additional 18,007 shares during the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on USB shares. StockNews.com upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, June 14th. UBS Group lowered their price target on shares of U.S. Bancorp from $47.00 to $43.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. Morgan Stanley restated an “equal weight” rating and set a $45.00 price target on shares of U.S. Bancorp in a research report on Friday, June 21st. Royal Bank of Canada restated an “outperform” rating and set a $47.00 price target on shares of U.S. Bancorp in a research report on Thursday, May 16th. Finally, Jefferies Financial Group upped their price target on shares of U.S. Bancorp from $44.00 to $46.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. Sixteen research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $46.02.

U.S. Bancorp Stock Down 0.7 %

NYSE:USB traded down $0.26 during mid-day trading on Thursday, reaching $39.45. The stock had a trading volume of 767,385 shares, compared to its average volume of 8,327,826. The business’s 50 day moving average is $40.36 and its 200 day moving average is $41.73. U.S. Bancorp has a fifty-two week low of $30.47 and a fifty-two week high of $45.85. The stock has a market cap of $61.56 billion, a P/E ratio of 13.14, a PEG ratio of 3.85 and a beta of 1.04. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.82 and a quick ratio of 0.81.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.90 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $6.71 billion. During the same quarter last year, the company posted $1.16 earnings per share. The company’s revenue for the quarter was down 6.4% compared to the same quarter last year. As a group, sell-side analysts predict that U.S. Bancorp will post 3.84 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a dividend of $0.49 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.96 annualized dividend and a dividend yield of 4.97%. U.S. Bancorp’s payout ratio is 64.90%.

U.S. Bancorp Company 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.