Forum Financial Management LP Buys 12,479 Shares of U.S. Bancorp (NYSE:USB)

Forum Financial Management LP boosted its stake in shares of U.S. Bancorp (NYSE:USB) by 100.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,842 shares of the financial services provider’s stock after purchasing an additional 12,479 shares during the quarter. Forum Financial Management LP’s holdings in U.S. Bancorp were worth $1,188,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Winch Advisory Services LLC boosted its holdings in shares of U.S. Bancorp by 1,088.9% during the 4th quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock worth $26,000 after buying an additional 490 shares during the period. J.Safra Asset Management Corp acquired a new position in U.S. Bancorp during the 4th quarter worth $26,000. FPC Investment Advisory Inc. bought a new stake in U.S. Bancorp during the fourth quarter valued at about $28,000. Global Wealth Strategies & Associates grew its position in shares of U.S. Bancorp by 70.8% in the fourth quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 250 shares during the last quarter. Finally, Stonebridge Financial Group LLC bought a new position in shares of U.S. Bancorp in the fourth quarter worth about $30,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Stock Up 1.0 %

Shares of NYSE USB opened at $38.21 on Friday. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $53.98. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81. The business has a fifty day moving average of $42.55 and a two-hundred day moving average of $46.77. The stock has a market cap of $59.53 billion, a PE ratio of 10.08, a PEG ratio of 1.73 and a beta of 0.91.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.06. The firm had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $6.92 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. During the same period last year, the firm posted $0.78 EPS. As a group, equities research analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a yield of 5.23%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 52.77%.

Analyst Upgrades and Downgrades

USB has been the topic of a number of research analyst reports. The Goldman Sachs Group lowered their target price on U.S. Bancorp from $51.00 to $45.00 and set a “neutral” rating on the stock in a report on Wednesday, March 19th. Barclays lowered their price objective on shares of U.S. Bancorp from $61.00 to $56.00 and set an “overweight” rating on the stock in a research note on Thursday. Morgan Stanley cut their target price on shares of U.S. Bancorp from $51.00 to $50.00 and set an “overweight” rating for the company in a research note on Thursday. Wells Fargo & Company decreased their price target on shares of U.S. Bancorp from $56.00 to $50.00 and set an “overweight” rating on the stock in a research report on Thursday. Finally, DA Davidson cut their price objective on shares of U.S. Bancorp from $54.00 to $49.00 and set a “buy” rating for the company in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $50.66.

Insider Activity at U.S. Bancorp

In other news, insider Terrance R. Dolan sold 66,317 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $46.96, for a total value of $3,114,246.32. Following the completion of the sale, the insider now directly owns 209,482 shares in the company, valued at approximately $9,837,274.72. This trade represents a 24.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Jodi L. Richard sold 30,000 shares of U.S. Bancorp stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $47.59, for a total value of $1,427,700.00. Following the completion of the transaction, the insider now directly owns 99,790 shares of the company’s stock, valued at $4,749,006.10. This represents a 23.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 219,812 shares of company stock valued at $10,385,665 in the last three months. Corporate 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.