Foster & Motley Inc. Purchases New Position in U.S. Bancorp $USB

Foster & Motley Inc. acquired a new stake in shares of U.S. Bancorp (NYSE:USB) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 49,131 shares of the financial services provider’s stock, valued at approximately $2,968,000.

Several other hedge funds also recently bought and sold shares of the company. Financial Life Planners acquired a new position in shares of U.S. Bancorp in the 1st quarter valued at $27,000. Main Street Group LTD acquired a new stake in U.S. Bancorp during the 1st quarter worth $28,000. JPL Wealth Management LLC bought a new position in U.S. Bancorp during the third quarter worth about $28,000. Binnacle Investments Inc grew its stake in U.S. Bancorp by 77.8% in the third quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 273 shares during the period. Finally, NFSG Corp acquired a new position in U.S. Bancorp in the first quarter valued at about $31,000. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on USB. Royal Bank Of Canada raised their price target on U.S. Bancorp from $61.00 to $68.00 and gave the stock an “outperform” rating in a research report on Friday, July 17th. BTIG Research set a $67.50 target price on U.S. Bancorp in a research note on Monday, July 20th. Jefferies Financial Group upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and raised their target price for the stock from $60.00 to $75.00 in a report on Monday, July 6th. Evercore raised shares of U.S. Bancorp from an “in-line” rating to an “outperform” rating and set a $72.00 price objective on the stock in a research report on Monday, July 20th. Finally, DA Davidson boosted their target price on U.S. Bancorp from $72.00 to $74.00 and gave the company a “buy” rating in a research note on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $67.06.

Insiders Place Their Bets

In other news, insider Stephen L. Philipson sold 36,906 shares of the company’s stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $63.08, for a total value of $2,328,030.48. Following the transaction, the insider owned 74,969 shares of the company’s stock, valued at approximately $4,729,044.52. This represents a 32.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.21% of the stock is currently owned by corporate insiders.

U.S. Bancorp Price Performance

NYSE:USB opened at $64.83 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.96. The stock’s 50 day moving average price is $62.13 and its two-hundred day moving average price is $57.51. The firm has a market capitalization of $101.00 billion, a price-to-earnings ratio of 12.94, a P/E/G ratio of 1.07 and a beta of 0.96. U.S. Bancorp has a 12-month low of $45.02 and a 12-month high of $66.07.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.07. U.S. Bancorp had a return on equity of 13.69% and a net margin of 18.49%.The business had revenue of $7.69 billion for the quarter, compared to analysts’ expectations of $7.58 billion. During the same quarter in the prior year, the business earned $1.11 EPS. On average, analysts anticipate that U.S. Bancorp will post 5.22 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Tuesday, June 30th. U.S. Bancorp’s dividend payout ratio (DPR) is currently 41.52%.

About U.S. Bancorp

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.