Cornerstone Wealth Management LLC Has $1.69 Million Holdings in U.S. Bancorp (NYSE:USB)

Cornerstone Wealth Management LLC lifted its position in U.S. Bancorp (NYSE:USB) by 3.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 37,790 shares of the financial services provider’s stock after buying an additional 1,353 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in U.S. Bancorp were worth $1,689,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. CGC Financial Services LLC acquired a new stake in shares of U.S. Bancorp in the fourth quarter worth about $25,000. BKM Wealth Management LLC acquired a new stake in U.S. Bancorp in the 4th quarter worth approximately $26,000. Planned Solutions Inc. bought a new stake in U.S. Bancorp during the fourth quarter worth approximately $27,000. Naples Money Management LLC bought a new stake in U.S. Bancorp during the fourth quarter worth approximately $30,000. Finally, Financial Synergies Wealth Advisors Inc. acquired a new position in U.S. Bancorp during the first quarter valued at approximately $30,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Stock Down 1.2 %

USB opened at $39.51 on Friday. U.S. Bancorp has a twelve month low of $30.47 and a twelve month high of $45.85. The firm has a market cap of $61.65 billion, a price-to-earnings ratio of 13.08, a PEG ratio of 3.81 and a beta of 1.04. The firm’s 50-day simple moving average is $40.26 and its 200-day simple moving average is $41.60. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.81 and a current ratio of 0.82.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.01. The company had revenue of $6.72 billion during the quarter, compared to analyst estimates of $6.71 billion. U.S. Bancorp had a net margin of 12.13% and a return on equity of 13.93%. The company’s revenue was down 6.4% on a year-over-year basis. During the same quarter last year, the business posted $1.16 earnings per share. Equities research 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 disclosed 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. The ex-dividend date is Friday, June 28th. This represents a $1.96 annualized dividend and a yield of 4.96%. U.S. Bancorp’s payout ratio is 64.90%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Morgan Stanley restated an “equal weight” rating and issued a $45.00 price objective on shares of U.S. Bancorp in a research note on Friday, June 21st. UBS Group cut their target price on shares of U.S. Bancorp from $47.00 to $43.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. Barclays lowered their price target on U.S. Bancorp from $56.00 to $52.00 and set an “overweight” rating on the stock in a research report on Thursday, April 18th. Oppenheimer dropped their price objective on U.S. Bancorp from $55.00 to $54.00 and set an “outperform” rating on the stock in a research note on Thursday, April 18th. Finally, HSBC upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and increased their target price for the company from $47.00 to $53.00 in a research note on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, U.S. Bancorp presently has an average rating of “Hold” and an average target price of $45.84.

U.S. Bancorp 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.