Focus Financial Network Inc. Has $2.50 Million Stock Position in U.S. Bancorp (NYSE:USB)

Focus Financial Network Inc. reduced its holdings in shares of U.S. Bancorp (NYSE:USB) by 11.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,844 shares of the financial services provider’s stock after selling 7,880 shares during the quarter. Focus Financial Network Inc.’s holdings in U.S. Bancorp were worth $2,495,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in USB. Norges Bank purchased a new position in U.S. Bancorp during the fourth quarter worth about $827,370,000. Boston Partners bought a new stake in U.S. Bancorp in the fourth quarter worth about $154,517,000. Charles Schwab Investment Management Inc. raised its position in U.S. Bancorp by 8.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 33,719,110 shares of the financial services provider’s stock worth $1,459,363,000 after acquiring an additional 2,598,163 shares during the period. Confluence Investment Management LLC bought a new stake in U.S. Bancorp in the first quarter worth about $92,192,000. Finally, BNP Paribas Financial Markets raised its position in U.S. Bancorp by 88.9% in the first quarter. BNP Paribas Financial Markets now owns 2,331,050 shares of the financial services provider’s stock worth $104,198,000 after acquiring an additional 1,097,179 shares during the period. 77.60% of the stock is currently owned by institutional investors and hedge funds.

U.S. Bancorp Stock Down 0.7 %

Shares of U.S. Bancorp stock traded down $0.30 on Wednesday, reaching $43.44. 1,162,208 shares of the company were exchanged, compared to its average volume of 8,423,993. U.S. Bancorp has a 1-year low of $30.47 and a 1-year high of $45.88. The company has a market cap of $67.79 billion, a P/E ratio of 14.48, a price-to-earnings-growth ratio of 4.20 and a beta of 1.04. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.80. The stock’s 50 day moving average price is $41.80 and its 200-day moving average price is $41.62.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.98 EPS for the quarter, topping the consensus estimate of $0.94 by $0.04. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The business had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.81 billion. During the same quarter in the prior year, the business earned $1.12 earnings per share. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. As a group, equities analysts forecast that U.S. Bancorp will post 3.9 EPS for the current year.

U.S. Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were given a $0.49 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.96 annualized dividend and a dividend yield of 4.51%. U.S. Bancorp’s dividend payout ratio is currently 64.90%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Citigroup boosted their price target on shares of U.S. Bancorp from $45.00 to $49.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. Wells Fargo & Company boosted their price objective on shares of U.S. Bancorp from $48.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday, July 18th. JPMorgan Chase & Co. cut shares of U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price objective for the company. in a research note on Thursday, June 27th. Royal Bank of Canada boosted their price objective on shares of U.S. Bancorp from $47.00 to $48.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. Finally, Evercore ISI boosted their price target on shares of U.S. Bancorp from $45.00 to $48.00 and gave the stock an “in-line” rating in a research note on Tuesday, June 25th. Thirteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $48.23.

Insider Buying and Selling

In other U.S. Bancorp news, Director Aleem Gillani acquired 10,000 shares of the stock in a transaction on Thursday, July 18th. The stock was purchased at an average price of $44.99 per share, for a total transaction of $449,900.00. Following the purchase, the director now directly owns 10,000 shares in the company, valued at $449,900. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.23% of the stock is currently owned by company insiders.

U.S. Bancorp Company Profile

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.