Griffin Asset Management Inc. Has $1.15 Million Stock Holdings in U.S. Bancorp (NYSE:USB)

Griffin Asset Management Inc. lessened its stake in shares of U.S. Bancorp (NYSE:USB) by 2.9% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 28,862 shares of the financial services provider’s stock after selling 847 shares during the quarter. Griffin Asset Management Inc.’s holdings in U.S. Bancorp were worth $1,146,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Moss Adams Wealth Advisors LLC raised its stake in 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 worth $316,000 after purchasing an additional 431 shares in the last quarter. Perennial Advisors LLC raised its stake in 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 worth $3,514,000 after purchasing an additional 2,332 shares in the last quarter. Eastern Bank raised its stake in U.S. Bancorp by 1.4% in the 2nd quarter. Eastern Bank now owns 431,635 shares of the financial services provider’s stock worth $17,136,000 after purchasing an additional 5,932 shares in the last quarter. Caldwell Sutter Capital Inc. raised its stake in U.S. Bancorp by 5.8% in the 2nd quarter. Caldwell Sutter Capital Inc. now owns 11,137 shares of the financial services provider’s stock worth $442,000 after purchasing an additional 609 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC raised its stake in U.S. Bancorp by 173.4% in the 2nd quarter. Fifth Third Wealth Advisors LLC now owns 19,729 shares of the financial services provider’s stock worth $783,000 after purchasing an additional 12,514 shares in the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insiders Place Their Bets

In other U.S. Bancorp news, Director Aleem Gillani acquired 10,000 shares of the 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 completion of the acquisition, 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 at this hyperlink. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Trading Up 1.1 %

Shares of NYSE USB traded up $0.49 during midday trading on Thursday, reaching $44.19. The stock had a trading volume of 4,632,892 shares, compared to its average volume of 8,420,985. The firm has a market cap of $68.96 billion, a price-to-earnings ratio of 14.47, a price-to-earnings-growth ratio of 4.20 and a beta of 1.04. U.S. Bancorp has a twelve month low of $30.47 and a twelve month high of $45.88. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.80 and a current ratio of 0.81. The company’s 50 day moving average price is $41.89 and its 200 day moving average price is $41.64.

U.S. Bancorp (NYSE:USB) last released its 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 net margin of 12.55% and a return on equity of 13.34%. 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 company earned $1.12 EPS. U.S. Bancorp’s quarterly revenue was down 4.3% compared to the same quarter last year. As a group, sell-side analysts expect that U.S. Bancorp will post 3.9 EPS for the current year.

U.S. Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were given 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 4.44%. U.S. Bancorp’s payout ratio is presently 64.90%.

Analyst Upgrades and Downgrades

USB has been the subject of several analyst reports. UBS Group lifted their price objective 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. Wells Fargo & Company boosted their target price on shares of U.S. Bancorp from $48.00 to $52.00 and gave the company an “overweight” rating in a research report on Thursday, July 18th. Morgan Stanley boosted their target price on shares of U.S. Bancorp from $47.00 to $54.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. 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 report on Thursday, July 18th. Finally, Jefferies Financial Group dropped their target price on shares of 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. Thirteen analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, U.S. Bancorp presently 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.