Corundum Group Inc. Has $1.39 Million Holdings in U.S. Bancorp (NYSE:USB)

Corundum Group Inc. increased its stake in shares of U.S. Bancorp (NYSE:USB) by 33.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 35,022 shares of the financial services provider’s stock after acquiring an additional 8,808 shares during the period. Corundum Group Inc.’s holdings in U.S. Bancorp were worth $1,390,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. Clarius Group LLC acquired a new position in U.S. Bancorp during the fourth quarter worth about $281,000. Simplicity Solutions LLC lifted its position in U.S. Bancorp by 21.4% in the 4th quarter. Simplicity Solutions LLC now owns 44,360 shares of the financial services provider’s stock valued at $1,920,000 after acquiring an additional 7,814 shares in the last quarter. Louisiana State Employees Retirement System bought a new stake in shares of U.S. Bancorp in the 4th quarter worth $4,073,000. Carnegie Capital Asset Management LLC increased its stake in U.S. Bancorp by 7.4% in the 4th quarter. Carnegie Capital Asset Management LLC now owns 171,683 shares of the financial services provider’s stock valued at $7,430,000 after buying an additional 11,864 shares during the last quarter. Finally, Strs Ohio boosted its position in U.S. Bancorp by 13.9% in the fourth quarter. Strs Ohio now owns 610,635 shares of the financial services provider’s stock worth $26,428,000 after purchasing an additional 74,738 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insider Transactions at U.S. Bancorp

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 shares were purchased at an average cost of $44.99 per share, for a total transaction of $449,900.00. Following the acquisition, the director now owns 10,000 shares in the company, valued at $449,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.23% of the company’s stock.

U.S. Bancorp Price Performance

Shares of NYSE USB traded up $0.47 during trading on Thursday, hitting $42.81. The company had a trading volume of 5,573,348 shares, compared to its average volume of 8,521,853. The firm has a market capitalization of $66.80 billion, a price-to-earnings ratio of 14.18, a price-to-earnings-growth ratio of 4.20 and a beta of 1.04. The stock has a fifty day simple moving average of $41.51 and a two-hundred day simple moving average of $41.59. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.05. U.S. Bancorp has a fifty-two week low of $30.47 and a fifty-two week high of $45.88.

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

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were paid a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 4.58%. The ex-dividend date was Friday, June 28th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 64.90%.

Analyst Ratings Changes

A number of brokerages have weighed in on USB. Royal Bank of Canada increased their target price on shares of U.S. Bancorp from $47.00 to $48.00 and gave the stock an “outperform” rating in a research report on Thursday, July 18th. StockNews.com raised U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. UBS Group lifted their target price on shares of U.S. Bancorp from $43.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Barclays cut their price objective on U.S. Bancorp from $56.00 to $52.00 and set an “overweight” rating on the stock in a research report on Thursday, April 18th. Finally, JPMorgan Chase & Co. cut shares of U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price target on the stock. in a research report on Thursday, June 27th. Thirteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, U.S. Bancorp currently has a consensus rating of “Hold” and a consensus price target 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.