Parsons Capital Management Inc. RI Has $1.76 Million Holdings in U.S. Bancorp (NYSE:USB)

Parsons Capital Management Inc. RI lessened its position in U.S. Bancorp (NYSE:USB) by 11.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,821 shares of the financial services provider’s stock after selling 4,538 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in U.S. Bancorp were worth $1,761,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brooklyn Investment Group lifted its position in shares of U.S. Bancorp by 4.4% during the 3rd quarter. Brooklyn Investment Group now owns 4,792 shares of the financial services provider’s stock worth $219,000 after purchasing an additional 201 shares during the last quarter. McAdam LLC increased its position in U.S. Bancorp by 2.5% in the 3rd quarter. McAdam LLC now owns 8,503 shares of the financial services provider’s stock worth $389,000 after buying an additional 209 shares during the period. HCR Wealth Advisors increased its position in U.S. Bancorp by 1.1% in the 4th quarter. HCR Wealth Advisors now owns 20,107 shares of the financial services provider’s stock worth $962,000 after buying an additional 211 shares during the period. Priebe Wealth Holdings LLC lifted its holdings in shares of U.S. Bancorp by 4.4% during the fourth quarter. Priebe Wealth Holdings LLC now owns 5,078 shares of the financial services provider’s stock worth $243,000 after buying an additional 215 shares during the last quarter. Finally, Essex Savings Bank boosted its position in shares of U.S. Bancorp by 1.8% in the fourth quarter. Essex Savings Bank now owns 12,350 shares of the financial services provider’s stock valued at $591,000 after acquiring an additional 216 shares during the period. Institutional investors and hedge funds own 77.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on USB. Stephens boosted their target price on shares of U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. DA Davidson upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $58.00 to $60.00 in a report on Thursday, January 2nd. Wells Fargo & Company increased their target price on shares of U.S. Bancorp from $60.00 to $62.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Barclays boosted their price target on U.S. Bancorp from $57.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Finally, Citigroup upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $49.00 to $65.00 in a research report on Monday, November 25th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $54.21.

U.S. Bancorp Trading Up 0.9 %

Shares of USB stock opened at $49.52 on Tuesday. The company has a market capitalization of $77.25 billion, a P/E ratio of 13.07, a P/E/G ratio of 1.81 and a beta of 1.05. U.S. Bancorp has a 12-month low of $37.81 and a 12-month high of $53.98. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. The firm has a 50-day moving average price of $49.99 and a 200 day moving average price of $47.20.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. The business had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $7 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.99 earnings per share. Research analysts forecast that U.S. Bancorp will post 4.37 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.04%. The ex-dividend date was Tuesday, December 31st. U.S. Bancorp’s dividend payout ratio (DPR) is presently 52.77%.

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.