Brasada Capital Management LP Purchases Shares of 22,500 U.S. Bancorp (NYSE:USB)

Brasada Capital Management LP bought a new position in U.S. Bancorp (NYSE:USB) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 22,500 shares of the financial services provider’s stock, valued at approximately $893,000.

Other hedge funds have also recently bought and sold shares of the company. Financial Synergies Wealth Advisors Inc. bought a new position in U.S. Bancorp in the 1st quarter valued at $30,000. 1620 Investment Advisors Inc. bought a new position in U.S. Bancorp in the second quarter valued at approximately $30,000. Eagle Bay Advisors LLC boosted its position in shares of U.S. Bancorp by 93.2% in the 1st quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 331 shares during the last quarter. LRI Investments LLC acquired a new position in shares of U.S. Bancorp during the 1st quarter worth about $31,000. Finally, Crewe Advisors LLC acquired a new position in U.S. Bancorp during the first quarter valued at approximately $39,000. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Aleem Gillani bought 10,000 shares of the stock in a transaction that occurred on Thursday, July 18th. The stock was acquired at an average cost of $44.99 per share, with a total value of $449,900.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at $449,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.23% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on USB. Royal Bank of Canada increased their target price on U.S. Bancorp from $47.00 to $48.00 and gave the stock an “outperform” rating in a research note on Thursday, July 18th. Jefferies Financial Group lowered their target price on U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating on the stock in a research report on Wednesday, July 3rd. The Goldman Sachs Group upped their price target on shares of U.S. Bancorp from $42.00 to $47.00 and gave the stock a “neutral” 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 report on Wednesday, July 17th. Finally, DA Davidson raised their target price on shares of U.S. Bancorp from $44.00 to $49.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Thirteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $48.23.

U.S. Bancorp Price Performance

USB stock opened at $45.03 on Wednesday. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.05. The firm has a market cap of $70.27 billion, a P/E ratio of 14.91, a P/E/G ratio of 4.34 and a beta of 1.03. The company’s 50-day moving average price is $43.63 and its two-hundred day moving average price is $42.14. U.S. Bancorp has a 12 month low of $30.47 and a 12 month high of $47.31.

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. The firm had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.81 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The business’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.12 earnings per share. On average, analysts anticipate that U.S. Bancorp will post 3.87 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were issued a $0.49 dividend. The ex-dividend date was Friday, June 28th. This represents a $1.96 dividend on an annualized basis and a yield of 4.35%. U.S. Bancorp’s payout ratio is presently 64.90%.

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.