1620 Investment Advisors Inc. Purchases New Holdings in U.S. Bancorp (NYSE:USB)

1620 Investment Advisors Inc. acquired a new position in shares of U.S. Bancorp (NYSE:USB) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 746 shares of the financial services provider’s stock, valued at approximately $30,000.

Other institutional investors have also modified their holdings of the company. Moss Adams Wealth Advisors LLC lifted its holdings in shares of U.S. Bancorp by 5.8% in the 2nd quarter. Moss Adams Wealth Advisors LLC now owns 7,871 shares of the financial services provider’s stock valued at $316,000 after buying an additional 431 shares during the period. Perennial Advisors LLC increased its holdings in shares of U.S. Bancorp by 2.7% in the 2nd quarter. Perennial Advisors LLC now owns 88,514 shares of the financial services provider’s stock valued at $3,514,000 after purchasing an additional 2,332 shares in the last quarter. Eastern Bank lifted its stake in shares of U.S. Bancorp by 1.4% in the second quarter. Eastern Bank now owns 431,635 shares of the financial services provider’s stock valued at $17,136,000 after purchasing an additional 5,932 shares during the period. Caldwell Sutter Capital Inc. boosted its holdings in U.S. Bancorp by 5.8% during the second quarter. Caldwell Sutter Capital Inc. now owns 11,137 shares of the financial services provider’s stock worth $442,000 after buying an additional 609 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC grew its position in U.S. Bancorp by 173.4% during the second quarter. Fifth Third Wealth Advisors LLC now owns 19,729 shares of the financial services provider’s stock worth $783,000 after buying an additional 12,514 shares during the period. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Trading Up 1.1 %

USB traded up $0.49 on Thursday, reaching $44.19. 4,632,892 shares of the company’s stock were exchanged, compared to its average volume of 8,420,985. U.S. Bancorp has a twelve month low of $30.47 and a twelve month high of $45.88. The company’s 50 day moving average is $41.98 and its 200-day moving average is $41.65. The company has a market cap of $68.96 billion, a price-to-earnings ratio of 14.63, a PEG ratio of 4.20 and a beta of 1.04. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.80 and a current ratio of 0.81.

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 for the quarter, topping analysts’ consensus estimates of $0.94 by $0.04. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The firm had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.81 billion. During the same period in the prior year, the company earned $1.12 EPS. The firm’s revenue was down 4.3% on a year-over-year basis. Equities 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 disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were given a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 4.44%. The ex-dividend date of this dividend was Friday, June 28th. U.S. Bancorp’s dividend payout ratio (DPR) is 64.90%.

Insider Transactions at U.S. Bancorp

In other news, Director Aleem Gillani acquired 10,000 shares of the business’s stock in a transaction on Thursday, July 18th. The shares were purchased at an average price of $44.99 per share, for a total transaction of $449,900.00. Following the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $449,900. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.23% of the company’s stock.

Wall Street Analysts Forecast Growth

USB has been the subject of several research reports. JPMorgan Chase & Co. downgraded U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price target for the company. in a research note on Thursday, June 27th. Evercore ISI increased their price objective on U.S. Bancorp from $45.00 to $48.00 and gave the company an “in-line” rating in a research note on Tuesday, June 25th. The Goldman Sachs Group boosted their target price on shares of U.S. Bancorp from $42.00 to $47.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Citigroup raised their price target on shares of U.S. Bancorp from $45.00 to $49.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Finally, Royal Bank of Canada boosted their price objective on shares of U.S. Bancorp from $47.00 to $48.00 and gave the company an “outperform” 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 MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $48.23.

About U.S. Bancorp

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.