Cardinal Capital Management Inc. lifted its holdings in shares of U.S. Bancorp (NYSE:USB) by 3.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 344,811 shares of the financial services provider’s stock after buying an additional 10,656 shares during the period. U.S. Bancorp makes up about 1.7% of Cardinal Capital Management Inc.’s investment portfolio, making the stock its 25th largest holding. Cardinal Capital Management Inc.’s holdings in U.S. Bancorp were worth $16,616,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the company. WESPAC Advisors SoCal LLC bought a new stake in U.S. Bancorp during the fourth quarter valued at about $27,000. Executive Wealth Management LLC bought a new stake in shares of U.S. Bancorp in the 4th quarter valued at $27,000. Gantzert Investment Co. LLC ADV bought a new stake in shares of U.S. Bancorp in the 4th quarter valued at $32,000. ERTS Wealth Advisors LLC bought a new stake in shares of U.S. Bancorp in the 4th quarter valued at $36,000. Finally, Centerpoint Advisors LLC bought a new stake in shares of U.S. Bancorp in the 4th quarter valued at $45,000. Institutional investors and hedge funds own 75.79% of the company’s stock.
Shares of USB stock opened at $52.34 on Friday. The stock has a market capitalization of $83.76 billion, a PE ratio of 12.77, a PEG ratio of 1.72 and a beta of 1.06. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.84 and a quick ratio of 0.83. U.S. Bancorp has a one year low of $43.14 and a one year high of $55.56.
The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $1.48 dividend on an annualized basis and a yield of 2.83%. U.S. Bancorp’s dividend payout ratio is presently 36.10%.
In other U.S. Bancorp news, Vice Chairman James B. Kelligrew sold 20,000 shares of the stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $50.61, for a total transaction of $1,012,200.00. Following the completion of the transaction, the insider now owns 49,495 shares in the company, valued at $2,504,941.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Leslie V. Godridge sold 12,564 shares of the stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $51.53, for a total transaction of $647,422.92. Following the transaction, the insider now owns 39,330 shares of the company’s stock, valued at approximately $2,026,674.90. The disclosure for this sale can be found here. Insiders have sold 47,301 shares of company stock valued at $2,418,578 in the last quarter. Company insiders own 0.24% of the company’s stock.
USB has been the topic of several research analyst reports. Jefferies Financial Group lowered shares of U.S. Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, January 8th. Zacks Investment Research restated a “hold” rating on shares of U.S. Bancorp in a report on Monday, December 31st. Robert W. Baird downgraded shares of U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $51.00 price objective on the stock. in a report on Monday, January 28th. Oppenheimer upped their price objective on shares of U.S. Bancorp from $58.00 to $62.00 and gave the stock an “outperform” rating in a report on Tuesday, March 26th. Finally, Barclays upped their price objective on shares of U.S. Bancorp from $61.00 to $64.00 and gave the stock an “overweight” rating in a report on Wednesday, January 2nd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $58.30.
U.S. Bancorp Company Profile
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.
Featured Article: What are the risks of holding treasury bonds?
Receive News & Ratings for U.S. Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for U.S. Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.