Lynch & Associates IN Buys 4,693 Shares of U.S. Bancorp (NYSE:USB)

Lynch & Associates IN raised its position in shares of U.S. Bancorp (NYSE:USB) by 7.9% in the second quarter, HoldingsChannel.com reports. The firm owned 64,380 shares of the financial services provider’s stock after purchasing an additional 4,693 shares during the quarter. Lynch & Associates IN’s holdings in U.S. Bancorp were worth $2,556,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in USB. Focus Financial Network Inc. ADV bought a new stake in U.S. Bancorp in the 4th quarter valued at about $5,440,000. Morningstar Investment Management LLC lifted its stake in shares of U.S. Bancorp by 760.8% in the fourth quarter. Morningstar Investment Management LLC now owns 83,833 shares of the financial services provider’s stock valued at $3,628,000 after buying an additional 74,094 shares in the last quarter. Brookstone Capital Management lifted its stake in shares of U.S. Bancorp by 2,056.5% in the first quarter. Brookstone Capital Management now owns 218,668 shares of the financial services provider’s stock valued at $9,774,000 after buying an additional 208,528 shares in the last quarter. Artisan Partners Limited Partnership grew its holdings in shares of U.S. Bancorp by 2.4% during the fourth quarter. Artisan Partners Limited Partnership now owns 3,188,254 shares of the financial services provider’s stock valued at $137,988,000 after buying an additional 76,053 shares during the last quarter. Finally, Manning & Napier Advisors LLC bought a new stake in shares of U.S. Bancorp during the second quarter worth about $20,188,000. Institutional investors own 77.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Wells Fargo & Company increased their price objective on U.S. Bancorp from $48.00 to $52.00 and gave the stock an “overweight” rating in a research note on Thursday, July 18th. UBS Group increased their price target on U.S. Bancorp from $43.00 to $46.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. JPMorgan Chase & Co. downgraded shares of U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price objective on the stock. in a report on Thursday, June 27th. DA Davidson increased their target price on shares of U.S. Bancorp from $44.00 to $49.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. Finally, Evercore ISI raised their price target on shares of 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. Thirteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $48.23.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, Director Aleem Gillani bought 10,000 shares of U.S. Bancorp stock in a transaction that occurred on Thursday, July 18th. The stock was acquired at an average cost of $44.99 per share, for a total transaction of $449,900.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at $449,900. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Performance

NYSE:USB opened at $44.49 on Friday. The business’s fifty day moving average is $43.41 and its 200 day moving average is $42.08. The firm has a market cap of $69.42 billion, a price-to-earnings ratio of 14.73, a PEG ratio of 4.57 and a beta of 1.04. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.80 and a current ratio of 0.81. U.S. Bancorp has a 52-week low of $30.47 and a 52-week high of $47.31.

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

U.S. Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were paid a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 4.41%. The ex-dividend date was Friday, June 28th. U.S. Bancorp’s dividend payout ratio is presently 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.