Plato Investment Management Ltd Buys 20,807 Shares of U.S. Bancorp (NYSE:USB)

Plato Investment Management Ltd increased its holdings in shares of U.S. Bancorp (NYSE:USB) by 2,060.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,817 shares of the financial services provider’s stock after acquiring an additional 20,807 shares during the quarter. Plato Investment Management Ltd’s holdings in U.S. Bancorp were worth $975,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Financial Synergies Wealth Advisors Inc. bought a new stake in U.S. Bancorp during the first quarter worth $30,000. Eagle Bay Advisors LLC lifted its holdings in U.S. Bancorp by 93.2% during the first quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 331 shares during the period. Naples Money Management LLC bought a new stake in U.S. Bancorp during the fourth quarter worth $30,000. Crewe Advisors LLC bought a new stake in U.S. Bancorp during the first quarter worth $39,000. Finally, Pineridge Advisors LLC purchased a new stake in U.S. Bancorp in the fourth quarter worth $41,000. 77.60% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Aleem Gillani acquired 10,000 shares of U.S. Bancorp stock in a transaction that occurred on Thursday, July 18th. The stock was bought at an average price of $44.99 per share, with a total value of $449,900.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at $449,900. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.23% of the company’s stock.

U.S. Bancorp Trading Down 2.9 %

NYSE:USB traded down $1.26 during mid-day trading on Friday, reaching $42.22. 4,134,895 shares of the company’s stock traded hands, compared to its average volume of 8,545,414. U.S. Bancorp has a 12-month low of $30.47 and a 12-month high of $45.88. The firm has a market capitalization of $65.88 billion, a price-to-earnings ratio of 13.94, a PEG ratio of 4.34 and a beta of 1.04. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.80. The company has a 50 day moving average price of $41.06 and a 200-day moving average price of $41.59.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.04. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The company had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.81 billion. During the same quarter in the previous year, the business earned $1.12 EPS. U.S. Bancorp’s revenue was down 4.3% compared to the same quarter last year. On average, sell-side analysts predict that U.S. Bancorp will post 3.9 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were issued a dividend of $0.49 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.64%. U.S. Bancorp’s dividend payout ratio (DPR) is 64.90%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. UBS Group raised their target price on U.S. Bancorp from $43.00 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. JPMorgan Chase & Co. downgraded U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 target price for the company. in a research report on Thursday, June 27th. Oppenheimer decreased their target price on 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. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $45.00 price target (down from $52.00) on shares of U.S. Bancorp in a research report on Thursday, April 18th. Finally, The Goldman Sachs Group lifted their price target on U.S. Bancorp from $42.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. Thirteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, U.S. Bancorp has a consensus rating of “Hold” and an average target price of $48.23.

U.S. Bancorp Company 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.