Ellsworth Advisors LLC Has $4.57 Million Stock Position in U.S. Bancorp (NYSE:USB)

Ellsworth Advisors LLC boosted its position in shares of U.S. Bancorp (NYSE:USB) by 4.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 114,979 shares of the financial services provider’s stock after purchasing an additional 5,104 shares during the period. Ellsworth Advisors LLC’s holdings in U.S. Bancorp were worth $4,565,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in USB. Naples Money Management LLC acquired a new stake in shares of U.S. Bancorp in the fourth quarter worth about $30,000. Financial Synergies Wealth Advisors Inc. acquired a new stake in shares of U.S. Bancorp in the first quarter worth about $30,000. Eagle Bay Advisors LLC lifted its position in shares of U.S. Bancorp by 93.2% in the first quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock worth $31,000 after buying an additional 331 shares during the last quarter. LRI Investments LLC acquired a new stake in shares of U.S. Bancorp in the first quarter worth about $31,000. Finally, Crewe Advisors LLC acquired a new stake in shares of U.S. Bancorp in the first quarter worth about $39,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

Analysts Set New Price Targets

USB has been the subject of a number of analyst reports. Jefferies Financial Group reduced their price target on U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating for the company in a research report on Wednesday, July 3rd. Morgan Stanley boosted their price objective on U.S. Bancorp from $47.00 to $54.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. DA Davidson boosted their price objective on U.S. Bancorp from $44.00 to $49.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Oppenheimer cut their price objective 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. Finally, The Goldman Sachs Group boosted their price objective on U.S. Bancorp from $42.00 to $47.00 and gave the stock 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 issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $48.23.

Insider Activity

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

U.S. Bancorp Price Performance

Shares of USB stock traded up $0.37 during trading hours on Friday, hitting $43.18. The company had a trading volume of 5,369,494 shares, compared to its average volume of 8,505,938. 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 $67.38 billion, a price-to-earnings ratio of 14.30, a PEG ratio of 4.20 and a beta of 1.04. The firm’s fifty day moving average is $41.59 and its 200 day moving average is $41.59. 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 released its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $6.81 billion. During the same period in the prior year, the company posted $1.12 EPS. The company’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 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were paid a $0.49 dividend. The ex-dividend date was Friday, June 28th. This represents a $1.96 annualized dividend and a dividend yield of 4.54%. U.S. Bancorp’s dividend payout ratio is currently 64.90%.

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.