Bull Harbor Capital LLC Makes New Investment in U.S. Bancorp $USB

Bull Harbor Capital LLC bought a new stake in shares of U.S. Bancorp (NYSE:USB) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 10,829 shares of the financial services provider’s stock, valued at approximately $563,000.

Other hedge funds have also modified their holdings of the company. Paulson Wealth Management Inc. increased its holdings in U.S. Bancorp by 2.0% in the fourth quarter. Paulson Wealth Management Inc. now owns 8,780 shares of the financial services provider’s stock worth $469,000 after buying an additional 173 shares during the last quarter. Flputnam Investment Management Co. lifted its stake in U.S. Bancorp by 1.4% in the fourth quarter. Flputnam Investment Management Co. now owns 13,721 shares of the financial services provider’s stock valued at $732,000 after acquiring an additional 186 shares during the last quarter. Formidable Asset Management LLC lifted its stake in U.S. Bancorp by 0.8% in the first quarter. Formidable Asset Management LLC now owns 23,373 shares of the financial services provider’s stock valued at $1,247,000 after acquiring an additional 186 shares during the last quarter. Balboa Wealth Partners grew its position in U.S. Bancorp by 4.0% in the first quarter. Balboa Wealth Partners now owns 4,920 shares of the financial services provider’s stock worth $256,000 after acquiring an additional 188 shares in the last quarter. Finally, Richmond Investment Services LLC grew its position in U.S. Bancorp by 1.9% in the fourth quarter. Richmond Investment Services LLC now owns 10,107 shares of the financial services provider’s stock worth $539,000 after acquiring an additional 192 shares in the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on USB shares. Raymond James Financial initiated coverage on shares of U.S. Bancorp in a report on Wednesday, July 8th. They set a “strong-buy” rating and a $72.00 price target on the stock. Robert W. Baird upped their price objective on shares of U.S. Bancorp from $64.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, July 17th. Oppenheimer raised their target price on U.S. Bancorp from $73.00 to $77.00 and gave the company an “outperform” rating in a report on Friday, July 17th. Weiss Ratings raised U.S. Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 4th. Finally, Citigroup reiterated a “buy” rating on shares of U.S. Bancorp in a research note on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.06.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, insider Stephen L. Philipson sold 36,906 shares of the firm’s stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $63.08, for a total value of $2,328,030.48. Following the sale, the insider owned 74,969 shares of the company’s stock, valued at $4,729,044.52. This trade represents a 32.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Venkatachari Dilip sold 34,522 shares of U.S. Bancorp stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total value of $1,916,661.44. Following the completion of the transaction, the executive vice president directly owned 51,292 shares in the company, valued at approximately $2,847,731.84. This represents a 40.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is owned by corporate insiders.

U.S. Bancorp Stock Performance

NYSE:USB opened at $62.92 on Friday. The firm has a market capitalization of $97.60 billion, a PE ratio of 12.56, a PEG ratio of 1.03 and a beta of 0.96. U.S. Bancorp has a 1 year low of $43.46 and a 1 year high of $64.84. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.96. The firm’s fifty day simple moving average is $59.65 and its 200 day simple moving average is $56.65.

U.S. Bancorp (NYSE:USB) last released its earnings results on Thursday, July 16th. The financial services provider reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.07. U.S. Bancorp had a net margin of 18.49% and a return on equity of 13.69%. The firm had revenue of $7.71 billion during the quarter, compared to analyst estimates of $7.58 billion. During the same quarter in the previous year, the business earned $1.11 EPS. On average, sell-side analysts anticipate that U.S. Bancorp will post 5.22 EPS for the current year.

U.S. Bancorp Announces Dividend

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

U.S. Bancorp 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.