Strategic Planning Group LLC Buys 11,407 Shares of U.S. Bancorp (NYSE:USB)

Strategic Planning Group LLC raised its stake in U.S. Bancorp (NYSE:USB) by 23.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 59,135 shares of the financial services provider’s stock after purchasing an additional 11,407 shares during the quarter. Strategic Planning Group LLC’s holdings in U.S. Bancorp were worth $2,643,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. CGC Financial Services LLC acquired a new stake in shares of U.S. Bancorp in the fourth quarter valued at approximately $25,000. BKM Wealth Management LLC acquired a new stake in shares of U.S. Bancorp in the fourth quarter valued at approximately $26,000. Planned Solutions Inc. acquired a new stake in shares of U.S. Bancorp in the fourth quarter valued at approximately $27,000. Financial Synergies Wealth Advisors Inc. acquired a new stake in shares of U.S. Bancorp in the first quarter valued at approximately $30,000. Finally, Naples Money Management LLC acquired a new stake in shares of U.S. Bancorp in the fourth quarter valued at approximately $30,000. 77.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Oppenheimer cut their price objective on U.S. Bancorp from $55.00 to $54.00 and set an “outperform” rating for the company in a research report on Thursday, April 18th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $45.00 price objective on shares of U.S. Bancorp in a research report on Friday. JPMorgan Chase & Co. dropped their price target on U.S. Bancorp from $45.00 to $43.50 and set an “overweight” rating for the company in a report on Wednesday, May 1st. Barclays dropped their price target on U.S. Bancorp from $56.00 to $52.00 and set an “overweight” rating for the company in a report on Thursday, April 18th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $47.00 price target on shares of U.S. Bancorp in a report on Thursday, May 16th. Fifteen equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $46.02.

U.S. Bancorp Trading Up 2.1 %

Shares of USB opened at $40.55 on Tuesday. U.S. Bancorp has a 52-week low of $30.47 and a 52-week high of $45.85. The business’s fifty day moving average is $40.38 and its 200-day moving average is $41.73. 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 firm has a market cap of $63.28 billion, a price-to-earnings ratio of 13.43, a PEG ratio of 3.82 and a beta of 1.05.

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

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a $0.49 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.96 annualized dividend and a dividend yield of 4.83%. U.S. Bancorp’s payout ratio is 64.90%.

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.