Steele Capital Management Inc. Takes Position in U.S. Bancorp (NYSE:USB)

Steele Capital Management Inc. purchased a new stake in U.S. Bancorp (NYSE:USB) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 10,009 shares of the financial services provider’s stock, valued at approximately $433,000.

Several other institutional investors have also recently bought and sold shares of USB. CGC Financial Services LLC acquired a new stake in shares of U.S. Bancorp in the 4th quarter worth about $25,000. BKM Wealth Management LLC bought a new stake in shares of U.S. Bancorp in the fourth quarter valued at $26,000. Planned Solutions Inc. purchased a new position in shares of U.S. Bancorp during the 4th quarter valued at $27,000. Legacy Financial Group LLC bought a new position in shares of U.S. Bancorp during the 3rd quarter worth $30,000. Finally, Naples Money Management LLC purchased a new stake in U.S. Bancorp in the 4th quarter worth about $30,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on USB. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $45.00 target price (down previously from $52.00) on shares of U.S. Bancorp in a research report on Thursday, April 18th. Oppenheimer dropped their target price on shares of U.S. Bancorp from $55.00 to $54.00 and set an “outperform” rating for the company in a research report on Thursday, April 18th. DA Davidson cut their price objective on U.S. Bancorp from $45.00 to $44.00 and set a “neutral” rating for the company in a report on Thursday, April 18th. Compass Point upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $46.00 to $49.00 in a research report on Friday, March 22nd. Finally, Evercore ISI lifted their price target on shares of U.S. Bancorp from $46.00 to $48.00 and gave the stock an “in-line” rating in a research note on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $46.14.

U.S. Bancorp Stock Performance

USB traded down $0.24 during midday trading on Tuesday, reaching $41.05. The company had a trading volume of 1,363,657 shares, compared to its average volume of 8,568,011. The business has a 50-day moving average of $42.34 and a two-hundred day moving average of $40.28. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 1.07. U.S. Bancorp has a 1 year low of $27.27 and a 1 year high of $45.85. The company has a market cap of $63.96 billion, a P/E ratio of 13.68, a P/E/G ratio of 2.13 and a beta of 1.05.

U.S. Bancorp (NYSE:USB) last released its earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.01. U.S. Bancorp had a net margin of 12.13% and a return on equity of 13.93%. The company had revenue of $6.72 billion during the quarter, compared to analyst estimates of $6.71 billion. During the same period in the prior year, the firm posted $1.16 EPS. The firm’s quarterly revenue was down 6.4% compared to the same quarter last year. As a group, equities research analysts predict that U.S. Bancorp will post 3.86 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were given a dividend of $0.49 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.96 annualized dividend and a dividend yield of 4.77%. U.S. Bancorp’s payout ratio is 64.90%.

Insider Activity

In related news, EVP James L. Chosy sold 21,582 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $41.47, for a total value of $895,005.54. Following the completion of the transaction, the executive vice president now owns 164,880 shares of the company’s stock, valued at approximately $6,837,573.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.23% of the company’s stock.

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.