Edgemoor Investment Advisors Inc. Has $3.28 Million Stock Position in U.S. Bancorp $USB

Edgemoor Investment Advisors Inc. boosted its holdings in shares of U.S. Bancorp (NYSE:USB) by 726.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 67,832 shares of the financial services provider’s stock after buying an additional 59,621 shares during the quarter. Edgemoor Investment Advisors Inc.’s holdings in U.S. Bancorp were worth $3,278,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of USB. IMG Wealth Management Inc. bought a new position in U.S. Bancorp during the 2nd quarter worth $25,000. Guerra Advisors Inc acquired a new position in U.S. Bancorp during the 3rd quarter worth approximately $25,000. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of U.S. Bancorp during the third quarter worth $26,000. Hillsdale Investment Management Inc. bought a new position in U.S. Bancorp in the second quarter valued at about $27,000. Finally, Pineridge Advisors LLC raised its holdings in U.S. Bancorp by 446.2% in the 2nd quarter. Pineridge Advisors LLC now owns 639 shares of the financial services provider’s stock valued at $29,000 after buying an additional 522 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, insider Mark G. Runkel sold 32,195 shares of the business’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $60.65, for a total value of $1,952,626.75. Following the transaction, the insider owned 97,728 shares in the company, valued at approximately $5,927,203.20. The trade was a 24.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.23% of the stock is currently owned by insiders.

U.S. Bancorp Stock Performance

NYSE:USB opened at $60.42 on Tuesday. The company has a market capitalization of $93.92 billion, a P/E ratio of 13.08, a P/E/G ratio of 1.09 and a beta of 1.06. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. The business has a fifty day simple moving average of $54.79 and a two-hundred day simple moving average of $50.01. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $60.91.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.07. The business had revenue of $7.92 billion for the quarter, compared to analysts’ expectations of $7.31 billion. U.S. Bancorp had a return on equity of 13.48% and a net margin of 17.66%.The firm’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.07 EPS. On average, analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were issued a dividend of $0.52 per share. The ex-dividend date was Wednesday, December 31st. This represents a $2.08 annualized dividend and a yield of 3.4%. U.S. Bancorp’s dividend payout ratio is currently 45.02%.

Analyst Upgrades and Downgrades

Several research analysts have commented on USB shares. DA Davidson lifted their target price on U.S. Bancorp from $63.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, January 21st. Argus upped their target price on U.S. Bancorp from $62.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Royal Bank Of Canada raised their price target on shares of U.S. Bancorp from $57.00 to $59.00 and gave the stock an “outperform” rating in a report on Wednesday, January 21st. HSBC reaffirmed a “buy” rating and issued a $62.00 price objective on shares of U.S. Bancorp in a research note on Wednesday, January 7th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of U.S. Bancorp from $58.00 to $59.00 and gave the company a “market perform” rating in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, U.S. Bancorp currently has an average rating of “Moderate Buy” and an average target price of $59.79.

U.S. Bancorp Profile

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.