Thoroughbred Financial Services LLC Has $857,000 Stock Holdings in U.S. Bancorp (NYSE:USB)

Thoroughbred Financial Services LLC raised its holdings in U.S. Bancorp (NYSE:USB) by 128.8% during the second quarter, HoldingsChannel.com reports. The fund owned 21,609 shares of the financial services provider’s stock after purchasing an additional 12,164 shares during the period. Thoroughbred Financial Services LLC’s holdings in U.S. Bancorp were worth $857,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Focus Financial Network Inc. ADV acquired a new position in shares of U.S. Bancorp during the fourth quarter worth $5,440,000. Morningstar Investment Management LLC raised its position in U.S. Bancorp by 760.8% in the fourth quarter. Morningstar Investment Management LLC now owns 83,833 shares of the financial services provider’s stock valued at $3,628,000 after purchasing an additional 74,094 shares during the last quarter. Brookstone Capital Management boosted its stake in shares of U.S. Bancorp by 2,056.5% during the first quarter. Brookstone Capital Management now owns 218,668 shares of the financial services provider’s stock valued at $9,774,000 after purchasing an additional 208,528 shares in the last quarter. Artisan Partners Limited Partnership grew its holdings in shares of U.S. Bancorp by 2.4% during the fourth quarter. Artisan Partners Limited Partnership now owns 3,188,254 shares of the financial services provider’s stock worth $137,988,000 after purchasing an additional 76,053 shares during the last quarter. Finally, Manning & Napier Advisors LLC acquired a new position in shares of U.S. Bancorp in the second quarter valued at approximately $20,188,000. 77.60% of the stock is owned by institutional investors.

U.S. Bancorp Stock Up 1.8 %

U.S. Bancorp stock opened at $44.62 on Monday. The company has a market capitalization of $69.63 billion, a PE ratio of 14.77, a PEG ratio of 4.36 and a beta of 1.04. U.S. Bancorp has a 12-month low of $30.47 and a 12-month high of $47.31. The firm’s fifty day moving average is $43.93 and its 200 day moving average is $42.21. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.05.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.04. The firm had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.81 billion. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.12 earnings per share. As a group, sell-side analysts predict that U.S. Bancorp will post 3.87 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a $0.50 dividend. The ex-dividend date is Monday, September 30th. This represents a $2.00 annualized dividend and a yield of 4.48%. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s dividend payout ratio is presently 66.23%.

Insider Buying and Selling at U.S. Bancorp

In other news, Director Aleem Gillani bought 10,000 shares of the stock in a transaction dated Thursday, July 18th. The shares were bought at an average cost of $44.99 per share, with a total value of $449,900.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at $449,900. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Jefferies Financial Group cut their target price on shares of U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating on the stock in a research report on Wednesday, July 3rd. Wells Fargo & Company boosted their price objective on shares of U.S. Bancorp from $48.00 to $52.00 and gave the stock an “overweight” rating in a research note on Thursday, July 18th. UBS Group increased their price objective on U.S. Bancorp from $43.00 to $46.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. The Goldman Sachs Group cut their target price on U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating on the stock in a report on Wednesday, September 11th. Finally, Morgan Stanley increased their price target on U.S. Bancorp from $47.00 to $54.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. Thirteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $48.18.

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.