Dearborn Partners LLC Has $923,000 Stake in U.S. Bancorp (USB)
Dearborn Partners LLC increased its position in shares of U.S. Bancorp (NYSE:USB) by 2.3% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 19,169 shares of the financial services provider’s stock after purchasing an additional 436 shares during the quarter. Dearborn Partners LLC’s holdings in U.S. Bancorp were worth $923,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in USB. Pineno Levin & Ford Asset Management Inc. raised its position in U.S. Bancorp by 3.6% in the fourth quarter. Pineno Levin & Ford Asset Management Inc. now owns 5,750 shares of the financial services provider’s stock valued at $263,000 after purchasing an additional 200 shares during the period. Belpointe Asset Management LLC raised its position in U.S. Bancorp by 4.3% in the fourth quarter. Belpointe Asset Management LLC now owns 4,955 shares of the financial services provider’s stock valued at $226,000 after purchasing an additional 206 shares during the period. First Personal Financial Services grew its stake in shares of U.S. Bancorp by 3.3% in the fourth quarter. First Personal Financial Services now owns 6,491 shares of the financial services provider’s stock worth $297,000 after acquiring an additional 207 shares in the last quarter. Capital Investment Advisors LLC grew its stake in shares of U.S. Bancorp by 3.6% in the fourth quarter. Capital Investment Advisors LLC now owns 5,988 shares of the financial services provider’s stock worth $274,000 after acquiring an additional 209 shares in the last quarter. Finally, Bell Rock Capital LLC grew its stake in shares of U.S. Bancorp by 16.9% in the fourth quarter. Bell Rock Capital LLC now owns 1,450 shares of the financial services provider’s stock worth $66,000 after acquiring an additional 210 shares in the last quarter. 75.91% of the stock is currently owned by hedge funds and other institutional investors.
Shares of USB stock opened at $52.56 on Wednesday. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.84 and a quick ratio of 0.83. The firm has a market cap of $85.58 billion, a P/E ratio of 12.82, a PEG ratio of 1.78 and a beta of 1.10. U.S. Bancorp has a 12 month low of $43.14 and a 12 month high of $55.56.
The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.82%. U.S. Bancorp’s payout ratio is currently 36.10%.
In related news, Vice Chairman Gillern Jeffry H. Von sold 4,669 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $53.14, for a total transaction of $248,110.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman James B. Kelligrew sold 20,000 shares of the business’s stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $50.61, for a total transaction of $1,012,200.00. Following the transaction, the insider now owns 49,495 shares of the company’s stock, valued at approximately $2,504,941.95. The disclosure for this sale can be found here. In the last quarter, insiders have sold 37,233 shares of company stock valued at $1,907,734. Insiders own 0.24% of the company’s stock.
Several equities analysts have commented on USB shares. Jefferies Financial Group downgraded shares of U.S. Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, January 8th. Robert W. Baird downgraded shares of U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $51.00 price target for the company. in a research note on Monday, January 28th. Oppenheimer boosted their price target on shares of U.S. Bancorp from $58.00 to $62.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 26th. Finally, Zacks Investment Research downgraded shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, April 15th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $58.30.
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About U.S. Bancorp
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.
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