Glenview Trust Co Buys 18,302 Shares of U.S. Bancorp $USB

Glenview Trust Co grew its position in U.S. Bancorp (NYSE:USB) by 20.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 108,296 shares of the financial services provider’s stock after acquiring an additional 18,302 shares during the quarter. Glenview Trust Co’s holdings in U.S. Bancorp were worth $5,632,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Clayton Financial Group LLC purchased a new position in shares of U.S. Bancorp during the fourth quarter valued at approximately $25,000. Financial Life Planners purchased a new position in U.S. Bancorp during the 1st quarter valued at $27,000. Main Street Group LTD bought a new position in U.S. Bancorp in the 1st quarter valued at $28,000. JPL Wealth Management LLC bought a new stake in shares of U.S. Bancorp during the third quarter worth $28,000. Finally, Binnacle Investments Inc boosted its stake in shares of U.S. Bancorp by 77.8% during the third quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 273 shares during the period. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Price Performance

U.S. Bancorp stock opened at $63.69 on Wednesday. The company’s fifty day moving average price is $58.24 and its 200 day moving average price is $56.22. U.S. Bancorp has a 1 year low of $43.46 and a 1 year high of $64.84. The stock has a market capitalization of $98.78 billion, a P/E ratio of 12.71, a P/E/G ratio of 1.04 and a beta of 0.96. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.82 and a current ratio of 0.83.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.07. The firm had revenue of $7.71 billion for the quarter, compared to analyst estimates of $7.58 billion. U.S. Bancorp had a return on equity of 13.69% and a net margin of 18.49%.During the same period in the previous year, the company posted $1.11 earnings per share. As a group, equities research analysts anticipate that U.S. Bancorp will post 5.2 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a $0.52 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $2.08 dividend on an annualized basis and a yield of 3.3%. U.S. Bancorp’s payout ratio is currently 41.52%.

Insiders Place Their Bets

In related news, EVP Venkatachari Dilip sold 34,522 shares of U.S. Bancorp stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total value of $1,916,661.44. Following the completion of the sale, the executive vice president owned 51,292 shares in the company, valued at approximately $2,847,731.84. This trade represents a 40.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

USB has been the topic of several recent analyst reports. Wall Street Zen raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, July 6th. Keefe, Bruyette & Woods raised their target price on shares of U.S. Bancorp from $63.00 to $66.00 and gave the stock a “market perform” rating in a research report on Friday, July 17th. JPMorgan Chase & Co. raised U.S. Bancorp from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $65.00 to $67.50 in a research note on Monday. Stephens raised their price target on U.S. Bancorp from $63.00 to $67.00 and gave the company an “equal weight” rating in a research note on Friday. Finally, Barclays upped their target price on U.S. Bancorp from $67.00 to $75.00 and gave the stock an “overweight” rating in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

Key Stories Impacting U.S. Bancorp

Here are the key news stories impacting U.S. Bancorp this week:

• Positive Sentiment: Evercore ISI upgraded U.S. Bancorp (USB) from in-line to outperform and set a $72 price target, pointing to meaningful upside from current levels. The Fly article
• Positive Sentiment: JPMorgan raised U.S. Bancorp (USB) from underweight to neutral and increased its price target to $67.50, citing growth in fee revenue. Benzinga article
• Positive Sentiment: Recent commentary highlighted U.S. Bancorp as a strong dividend stock, which may be supporting investor interest in the name. Zacks article
• Neutral Sentiment: Several recent articles compared USB’s year-to-date performance with other financial stocks, suggesting the stock has been performing solidly relative to peers, but these pieces were mostly informational rather than clearly market-moving. MSN article

U.S. Bancorp Company Profile

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.