Edgemoor Investment Advisors Inc. Boosts Stock Position in U.S. Bancorp $USB

Edgemoor Investment Advisors Inc. grew its holdings in shares of U.S. Bancorp (NYSE:USB) by 24.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 84,231 shares of the financial services provider’s stock after buying an additional 16,399 shares during the period. Edgemoor Investment Advisors Inc.’s holdings in U.S. Bancorp were worth $4,495,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Guerra Advisors Inc acquired a new position in U.S. Bancorp in the third quarter valued at approximately $25,000. Financial Life Planners acquired a new stake in U.S. Bancorp during the third quarter worth approximately $25,000. Clayton Financial Group LLC purchased a new stake in shares of U.S. Bancorp during the 4th quarter worth approximately $25,000. JPL Wealth Management LLC purchased a new stake in shares of U.S. Bancorp during the 3rd quarter worth approximately $28,000. Finally, Binnacle Investments Inc boosted its holdings in shares of U.S. Bancorp by 77.8% in the 3rd quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider’s stock valued at $30,000 after buying an additional 273 shares in the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

U.S. Bancorp Stock Up 0.8%

USB stock opened at $54.87 on Friday. U.S. Bancorp has a one year low of $42.55 and a one year high of $61.19. The stock has a market capitalization of $85.17 billion, a PE ratio of 11.50, a price-to-earnings-growth ratio of 0.98 and a beta of 1.00. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.81 and a current ratio of 0.81. The company has a fifty day moving average of $54.42 and a 200-day moving average of $53.92.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.04. The business had revenue of $7.32 billion for the quarter, compared to analyst estimates of $7.27 billion. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. The business’s revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.03 earnings per share. As a group, analysts expect that U.S. Bancorp will post 5.09 EPS for the current year.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were given a dividend of $0.52 per share. The ex-dividend date was Tuesday, March 31st. This represents a $2.08 annualized dividend and a yield of 3.8%. U.S. Bancorp’s payout ratio is presently 43.61%.

Insider Buying and Selling

In related news, EVP Venkatachari Dilip sold 34,522 shares of U.S. Bancorp stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total value of $1,916,661.44. Following the sale, the executive vice president directly owned 51,292 shares in the company, valued at $2,847,731.84. The trade was a 40.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jodi L. Richard sold 40,000 shares of the company’s stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total value of $2,280,000.00. Following the transaction, the insider directly owned 207,251 shares in the company, valued at $11,813,307. This represents a 16.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on USB. UBS Group reissued a “neutral” rating and issued a $60.00 price target on shares of U.S. Bancorp in a research report on Wednesday, February 4th. Evercore raised their price objective on U.S. Bancorp from $60.00 to $65.00 and gave the stock an “in-line” rating in a report on Thursday, February 5th. Jefferies Financial Group reissued a “hold” rating and issued a $60.00 target price on shares of U.S. Bancorp in a report on Thursday, April 16th. Weiss Ratings raised U.S. Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 4th. Finally, DA Davidson restated a “buy” rating and set a $65.00 price target on shares of U.S. Bancorp in a research note on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $61.20.

U.S. Bancorp Profile

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.