Procyon Advisors LLC Buys 5,924 Shares of U.S. Bancorp (NYSE:USB)

Procyon Advisors LLC lifted its holdings in shares of U.S. Bancorp (NYSE:USB) by 36.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,164 shares of the financial services provider’s stock after acquiring an additional 5,924 shares during the period. Procyon Advisors LLC’s holdings in U.S. Bancorp were worth $959,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Scotia Capital Inc. raised its position in shares of U.S. Bancorp by 2.9% in the third quarter. Scotia Capital Inc. now owns 35,012 shares of the financial services provider’s stock valued at $1,158,000 after purchasing an additional 990 shares during the period. National Bank of Canada FI boosted its holdings in shares of U.S. Bancorp by 292.1% in the third quarter. National Bank of Canada FI now owns 1,386,413 shares of the financial services provider’s stock worth $44,555,000 after buying an additional 1,032,866 shares during the last quarter. Tealwood Asset Management Inc. boosted its holdings in shares of U.S. Bancorp by 33.4% in the fourth quarter. Tealwood Asset Management Inc. now owns 62,539 shares of the financial services provider’s stock worth $2,707,000 after buying an additional 15,665 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of U.S. Bancorp by 19.4% in the third quarter. Van ECK Associates Corp now owns 8,677,378 shares of the financial services provider’s stock worth $286,874,000 after buying an additional 1,410,324 shares during the last quarter. Finally, SG Americas Securities LLC boosted its holdings in shares of U.S. Bancorp by 104.3% in the fourth quarter. SG Americas Securities LLC now owns 105,090 shares of the financial services provider’s stock worth $4,548,000 after buying an additional 53,653 shares during the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Morgan Stanley lifted their price target on shares of U.S. Bancorp from $44.00 to $45.00 and gave the company an “equal weight” rating in a report on Tuesday, January 30th. Wells Fargo & Company boosted their price objective on shares of U.S. Bancorp from $43.00 to $50.00 and gave the company an “overweight” rating in a research report on Thursday, December 14th. Robert W. Baird lowered shares of U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $52.00 target price for the company. in a research note on Friday, December 15th. Compass Point raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and boosted their target price for the company from $46.00 to $49.00 in a research note on Friday, March 22nd. Finally, Stephens lowered shares of U.S. Bancorp from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, December 20th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, U.S. Bancorp currently has a consensus rating of “Hold” and an average price target of $46.33.

Insider Buying and Selling

In related news, insider Timothy A. Welsh sold 12,100 shares of the firm’s stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $40.33, for a total transaction of $487,993.00. Following the completion of the transaction, the insider now directly owns 106,958 shares in the company, valued at approximately $4,313,616.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Terrance R. Dolan sold 26,583 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $43.37, for a total transaction of $1,152,904.71. Following the sale, the insider now directly owns 144,236 shares in the company, valued at $6,255,515.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Timothy A. Welsh sold 12,100 shares of the company’s stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $40.33, for a total transaction of $487,993.00. Following the sale, the insider now owns 106,958 shares in the company, valued at $4,313,616.14. The disclosure for this sale can be found here. In the last ninety days, insiders sold 60,265 shares of company stock valued at $2,535,903. 0.23% of the stock is currently owned by insiders.

U.S. Bancorp Price Performance

USB stock traded up $0.47 during midday trading on Thursday, reaching $44.47. The stock had a trading volume of 1,180,437 shares, compared to its average volume of 8,984,954. U.S. Bancorp has a 52-week low of $27.27 and a 52-week high of $45.85. The company has a market cap of $69.29 billion, a price-to-earnings ratio of 13.41, a price-to-earnings-growth ratio of 2.24 and a beta of 1.04. The company’s fifty day simple moving average is $41.92 and its 200 day simple moving average is $38.80. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.05.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, January 17th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.28. The business had revenue of $6.76 billion during the quarter, compared to the consensus estimate of $6.85 billion. U.S. Bancorp had a return on equity of 14.89% and a net margin of 13.36%. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period last year, the company earned $1.20 EPS. As a group, sell-side analysts predict that U.S. Bancorp will post 3.89 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 29th will be given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date of this dividend is Wednesday, March 27th. U.S. Bancorp’s payout ratio is 59.76%.

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.