Goodman Advisory Group LLC Purchases 148,587 Shares of U.S. Bancorp $USB

Goodman Advisory Group LLC raised its position in shares of U.S. Bancorp (NYSE:USB) by 179,020.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 148,670 shares of the financial services provider’s stock after buying an additional 148,587 shares during the quarter. U.S. Bancorp comprises approximately 2.3% of Goodman Advisory Group LLC’s portfolio, making the stock its 14th biggest position. Goodman Advisory Group LLC’s holdings in U.S. Bancorp were worth $6,727,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. IMG Wealth Management Inc. bought a new position in shares of U.S. Bancorp in the 2nd quarter worth about $25,000. Hillsdale Investment Management Inc. bought a new position in shares of U.S. Bancorp during the second quarter valued at approximately $27,000. Saudi Central Bank bought a new position in shares of U.S. Bancorp during the first quarter valued at approximately $26,000. Pineridge Advisors LLC lifted its holdings in shares of U.S. Bancorp by 446.2% during the second quarter. Pineridge Advisors LLC now owns 639 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 522 shares during the last quarter. Finally, Activest Wealth Management boosted its position in shares of U.S. Bancorp by 846.5% in the 2nd quarter. Activest Wealth Management now owns 814 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 728 shares in the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

USB has been the subject of a number of analyst reports. TD Cowen raised their price objective on U.S. Bancorp from $59.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, October 20th. Morgan Stanley reissued a “positive” rating on shares of U.S. Bancorp in a research note on Friday, October 17th. Deutsche Bank Aktiengesellschaft raised U.S. Bancorp from a “hold” rating to a “buy” rating and set a $52.50 price target for the company in a research report on Thursday, October 23rd. Evercore ISI upped their price target on shares of U.S. Bancorp from $49.00 to $54.00 and gave the stock an “in-line” rating in a research note on Tuesday, September 30th. Finally, Oppenheimer reduced their price objective on shares of U.S. Bancorp from $66.00 to $64.00 and set an “outperform” rating for the company in a research note on Wednesday, November 19th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $54.16.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, Chairman Andrew Cecere sold 140,445 shares of U.S. Bancorp stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $46.34, for a total value of $6,508,221.30. Following the completion of the sale, the chairman owned 1,360,414 shares of the company’s stock, valued at approximately $63,041,584.76. The trade was a 9.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP James L. Chosy sold 26,909 shares of the stock in a transaction on Monday, October 20th. The shares were sold at an average price of $46.86, for a total value of $1,260,955.74. Following the transaction, the executive vice president directly owned 226,375 shares in the company, valued at $10,607,932.50. The trade was a 10.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.23% of the company’s stock.

U.S. Bancorp Trading Down 0.3%

U.S. Bancorp stock opened at $53.41 on Friday. U.S. Bancorp has a one year low of $35.18 and a one year high of $53.98. The business’s fifty day moving average is $48.05 and its 200 day moving average is $47.05. The stock has a market capitalization of $83.02 billion, a PE ratio of 12.22, a price-to-earnings-growth ratio of 1.01 and a beta of 1.10. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.82 and a quick ratio of 0.82.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Thursday, October 16th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.11. The business had revenue of $7.34 billion for the quarter, compared to analysts’ expectations of $7.17 billion. U.S. Bancorp had a net margin of 16.89% and a return on equity of 13.34%. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.03 EPS. On average, sell-side analysts predict that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be issued a $0.52 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $2.08 annualized dividend and a yield of 3.9%. U.S. Bancorp’s dividend payout ratio (DPR) is currently 47.60%.

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.