American National Bank & Trust Co. VA Acquires New Shares in U.S. Bancorp (NYSE:USB)

American National Bank & Trust Co. VA acquired a new stake in shares of U.S. Bancorp (NYSE:USB) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 10,982 shares of the financial services provider’s stock, valued at approximately $491,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Accel Wealth Management boosted its position in U.S. Bancorp by 1.2% during the 1st quarter. Accel Wealth Management now owns 110,194 shares of the financial services provider’s stock worth $4,926,000 after acquiring an additional 1,300 shares during the period. First Trust Direct Indexing L.P. boosted its position in U.S. Bancorp by 23.9% during the 1st quarter. First Trust Direct Indexing L.P. now owns 37,007 shares of the financial services provider’s stock worth $1,654,000 after acquiring an additional 7,131 shares during the period. Cornerstone Wealth Management LLC boosted its position in U.S. Bancorp by 3.7% during the 1st quarter. Cornerstone Wealth Management LLC now owns 37,790 shares of the financial services provider’s stock worth $1,689,000 after acquiring an additional 1,353 shares during the period. DMC Group LLC boosted its position in U.S. Bancorp by 3.9% during the 1st quarter. DMC Group LLC now owns 15,658 shares of the financial services provider’s stock worth $700,000 after acquiring an additional 587 shares during the period. Finally, Norden Group LLC boosted its position in U.S. Bancorp by 2,436.0% during the 1st quarter. Norden Group LLC now owns 399,756 shares of the financial services provider’s stock worth $17,869,000 after acquiring an additional 383,993 shares during the period. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Stock Down 1.2 %

NYSE:USB traded down $0.46 during trading hours on Thursday, hitting $39.51. 3,715,540 shares of the company’s stock traded hands, compared to its average volume of 8,371,646. The firm has a market cap of $61.65 billion, a P/E ratio of 13.08, a P/E/G ratio of 3.85 and a beta of 1.04. U.S. Bancorp has a twelve month low of $30.47 and a twelve month high of $45.85. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.81 and a current ratio of 0.82. The stock’s fifty day moving average price is $40.26 and its two-hundred day moving average price is $41.60.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.01. The firm had revenue of $6.72 billion for the quarter, compared to analyst estimates of $6.71 billion. U.S. Bancorp had a return on equity of 13.93% and a net margin of 12.13%. U.S. Bancorp’s quarterly revenue was down 6.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.16 earnings per share. On average, research analysts expect that U.S. Bancorp will post 3.84 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 4.96%. The ex-dividend date of this dividend is Friday, June 28th. U.S. Bancorp’s payout ratio is currently 64.90%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. StockNews.com lowered U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday. UBS Group cut their price objective on U.S. Bancorp from $47.00 to $43.00 and set a “neutral” rating for the company in a report on Friday, April 19th. Royal Bank of Canada restated an “outperform” rating and issued a $47.00 price objective on shares of U.S. Bancorp in a report on Thursday, May 16th. Wells Fargo & Company cut their price objective on U.S. Bancorp from $50.00 to $48.00 and set an “overweight” rating for the company in a report on Thursday, April 18th. Finally, Compass Point upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their price objective for the company from $46.00 to $49.00 in a report on Friday, March 22nd. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $45.84.

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.