Pinnacle Wealth Planning Services Inc. Purchases 1,890 Shares of U.S. Bancorp (NYSE:USB)

Pinnacle Wealth Planning Services Inc. increased its position in U.S. Bancorp (NYSE:USB) by 23.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 10,012 shares of the financial services provider’s stock after buying an additional 1,890 shares during the period. Pinnacle Wealth Planning Services Inc.’s holdings in U.S. Bancorp were worth $448,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of USB. Norges Bank bought a new position in U.S. Bancorp in the 4th quarter worth $827,370,000. Boston Partners purchased a new stake in U.S. Bancorp in the 4th quarter worth $154,517,000. Charles Schwab Investment Management Inc. lifted its stake in U.S. Bancorp by 8.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 33,719,110 shares of the financial services provider’s stock worth $1,459,363,000 after purchasing an additional 2,598,163 shares in the last quarter. Confluence Investment Management LLC purchased a new stake in U.S. Bancorp in the 1st quarter worth $92,192,000. Finally, BNP Paribas Financial Markets lifted its stake in U.S. Bancorp by 88.9% in the 1st quarter. BNP Paribas Financial Markets now owns 2,331,050 shares of the financial services provider’s stock worth $104,198,000 after purchasing an additional 1,097,179 shares in the last quarter. Institutional investors own 77.60% of the company’s stock.

Analysts Set New Price Targets

USB has been the topic of several research analyst reports. The Goldman Sachs Group boosted their price target on shares of U.S. Bancorp from $42.00 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday. StockNews.com upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday. UBS Group boosted their price target on shares of U.S. Bancorp from $43.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday. Wells Fargo & Company upped their target price on shares of U.S. Bancorp from $48.00 to $52.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $45.00 target price (down from $52.00) on shares of U.S. Bancorp in a research report on Thursday, April 18th. Thirteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, U.S. Bancorp currently has an average rating of “Hold” and a consensus target price of $47.72.

U.S. Bancorp Trading Up 0.8 %

USB stock traded up $0.35 during mid-day trading on Friday, reaching $44.76. The company had a trading volume of 11,842,312 shares, compared to its average volume of 9,442,374. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market capitalization of $69.85 billion, a PE ratio of 14.82, a price-to-earnings-growth ratio of 4.34 and a beta of 1.04. The firm has a 50 day moving average of $40.39 and a 200 day moving average of $41.46. U.S. Bancorp has a 12 month low of $30.47 and a 12 month high of $45.85.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, July 17th. The financial services provider reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.04. The business had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.81 billion. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.12 EPS. On average, equities analysts predict that U.S. Bancorp will post 3.89 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 4.38%. The ex-dividend date of this dividend was Friday, June 28th. U.S. Bancorp’s payout ratio is 64.90%.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, Director Aleem Gillani acquired 10,000 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The shares were bought at an average cost of $44.99 per share, with a total value of $449,900.00. Following the completion of the acquisition, the director now directly owns 10,000 shares in the company, valued at approximately $449,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.23% of the stock is currently owned by corporate insiders.

U.S. Bancorp 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.