Bessemer Group Inc. Boosts Stake in U.S. Bancorp (NYSE:USB)

Bessemer Group Inc. increased its stake in shares of U.S. Bancorp (NYSE:USB) by 170.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 153,986 shares of the financial services provider’s stock after buying an additional 97,060 shares during the quarter. Bessemer Group Inc.’s holdings in U.S. Bancorp were worth $6,883,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in USB. BKM Wealth Management LLC acquired a new position in shares of U.S. Bancorp in the fourth quarter valued at about $26,000. Planned Solutions Inc. acquired a new stake in U.S. Bancorp during the 4th quarter valued at approximately $27,000. Financial Synergies Wealth Advisors Inc. purchased a new stake in shares of U.S. Bancorp in the 1st quarter valued at $30,000. Eagle Bay Advisors LLC increased its stake in shares of U.S. Bancorp by 93.2% in the first quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 331 shares during the period. Finally, Naples Money Management LLC purchased a new position in shares of U.S. Bancorp during the fourth quarter worth $30,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

USB has been the topic of several analyst reports. UBS Group increased their price target on U.S. Bancorp from $43.00 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Evercore ISI lifted their price target on U.S. Bancorp from $45.00 to $48.00 and gave the company an “in-line” rating in a research report on Tuesday, June 25th. The Goldman Sachs Group boosted their price target on U.S. Bancorp from $42.00 to $47.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. Oppenheimer dropped their price objective on shares of U.S. Bancorp from $55.00 to $54.00 and set an “outperform” rating on the stock in a research note on Thursday, April 18th. Finally, JPMorgan Chase & Co. lowered shares of U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 target price for the company. in a report on Thursday, June 27th. Thirteen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, U.S. Bancorp currently has a consensus rating of “Hold” and an average price target of $47.72.

U.S. Bancorp Trading Down 1.7 %

USB stock traded down $0.79 during trading on Wednesday, reaching $44.76. 8,055,030 shares of the stock were exchanged, compared to its average volume of 8,596,522. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $69.85 billion, a price-to-earnings ratio of 15.09, a P/E/G ratio of 4.01 and a beta of 1.04. The business has a 50 day moving average price of $40.54 and a 200-day moving average price of $41.48. U.S. Bancorp has a 1 year low of $30.47 and a 1 year high of $45.85.

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

U.S. Bancorp Dividend Announcement

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

Insider Buying and Selling

In related news, Director Aleem Gillani bought 10,000 shares of the firm’s stock in a transaction on Thursday, July 18th. The shares were bought at an average price of $44.99 per share, with a total value of $449,900.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $449,900. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.23% of the company’s stock.

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.