Fifth Third Wealth Advisors LLC Makes New Investment in U.S. Bancorp (NYSE:USB)

Fifth Third Wealth Advisors LLC purchased a new stake in U.S. Bancorp (NYSE:USB) during the first quarter, Holdings Channel reports. The fund purchased 7,215 shares of the financial services provider’s stock, valued at approximately $323,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Hengehold Capital Management LLC raised its stake in shares of U.S. Bancorp by 0.5% in the 1st quarter. Hengehold Capital Management LLC now owns 112,845 shares of the financial services provider’s stock valued at $5,044,000 after acquiring an additional 593 shares during the period. Lockerman Financial Group Inc. purchased a new stake in shares of U.S. Bancorp in the 1st quarter valued at approximately $200,000. Shulman DeMeo Asset Management LLC raised its stake in shares of U.S. Bancorp by 7.8% in the 1st quarter. Shulman DeMeo Asset Management LLC now owns 5,275 shares of the financial services provider’s stock valued at $236,000 after acquiring an additional 382 shares during the period. Viking Fund Management LLC raised its stake in shares of U.S. Bancorp by 666.7% in the 1st quarter. Viking Fund Management LLC now owns 1,840 shares of the financial services provider’s stock valued at $82,000 after acquiring an additional 1,600 shares during the period. Finally, Corundum Group Inc. raised its stake in shares of U.S. Bancorp by 32.9% in the 1st quarter. Corundum Group Inc. now owns 26,214 shares of the financial services provider’s stock valued at $1,172,000 after acquiring an additional 6,491 shares during the period. 77.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. DA Davidson reduced their price target on shares of U.S. Bancorp from $45.00 to $44.00 and set a “neutral” rating on the stock in a research note on Thursday, April 18th. Wells Fargo & Company dropped their price objective on shares of U.S. Bancorp from $50.00 to $48.00 and set an “overweight” rating for the company in a report on Thursday, April 18th. Royal Bank of Canada restated an “outperform” rating and issued a $47.00 price objective on shares of U.S. Bancorp in a report on Thursday, May 16th. JPMorgan Chase & Co. cut shares of U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price objective for the company. in a report on Thursday. Finally, UBS Group dropped their price objective on shares of U.S. Bancorp from $47.00 to $43.00 and set a “neutral” rating for the company in a report on Friday, April 19th. Sixteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, U.S. Bancorp currently has an average rating of “Hold” and a consensus target price of $46.02.

U.S. Bancorp Stock Down 0.1 %

Shares of U.S. Bancorp stock traded down $0.03 during trading hours on Thursday, hitting $39.68. The company had a trading volume of 6,871,579 shares, compared to its average volume of 8,377,458. The company’s 50-day moving average is $40.36 and its two-hundred day moving average is $41.71. U.S. Bancorp has a twelve month low of $30.47 and a twelve month high of $45.85. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.82 and a quick ratio of 0.81. The company has a market cap of $61.92 billion, a P/E ratio of 13.14, a price-to-earnings-growth ratio of 3.85 and a beta of 1.04.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.01. U.S. Bancorp had a net margin of 12.13% and a return on equity of 13.93%. The business had revenue of $6.72 billion during the quarter, compared to analysts’ expectations of $6.71 billion. During the same quarter in the prior year, the business posted $1.16 EPS. The company’s revenue for the quarter was down 6.4% on a year-over-year basis. Analysts anticipate that U.S. Bancorp will post 3.84 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a $0.49 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.96 annualized dividend and a yield of 4.94%. U.S. Bancorp’s dividend payout ratio (DPR) is 64.90%.

About U.S. Bancorp

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.