Foster Group Inc. Buys New Shares in U.S. Bancorp (NYSE:USB)

Foster Group Inc. bought a new stake in shares of U.S. Bancorp (NYSE:USB) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,624 shares of the financial services provider’s stock, valued at approximately $251,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of U.S. Bancorp in the fourth quarter worth about $827,370,000. Aristotle Capital Management LLC increased its holdings in shares of U.S. Bancorp by 266.6% in the third quarter. Aristotle Capital Management LLC now owns 23,467,699 shares of the financial services provider’s stock worth $775,842,000 after purchasing an additional 17,066,479 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of U.S. Bancorp by 5.0% in the third quarter. Vanguard Group Inc. now owns 136,513,206 shares of the financial services provider’s stock worth $4,513,127,000 after purchasing an additional 6,479,642 shares during the last quarter. Boston Partners bought a new stake in shares of U.S. Bancorp in the fourth quarter worth about $154,517,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of U.S. Bancorp by 8.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 33,719,110 shares of the financial services provider’s stock worth $1,459,363,000 after purchasing an additional 2,598,163 shares during the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

U.S. Bancorp Price Performance

Shares of NYSE:USB opened at $39.29 on Friday. U.S. Bancorp has a 52-week low of $30.47 and a 52-week high of $45.85. The stock has a market cap of $61.31 billion, a P/E ratio of 13.01, a price-to-earnings-growth ratio of 3.77 and a beta of 1.04. The business’s 50 day moving average is $40.44 and its 200 day moving average is $41.69. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 1.07.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.01. U.S. Bancorp had a return on equity of 13.93% and a net margin of 12.13%. The company had revenue of $6.72 billion for the quarter, compared to analysts’ expectations of $6.71 billion. During the same quarter in the prior year, the firm earned $1.16 earnings per share. U.S. Bancorp’s revenue was down 6.4% compared to the same quarter last year. Sell-side analysts predict that U.S. Bancorp will post 3.85 EPS for the current year.

U.S. Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a dividend of $0.49 per share. The ex-dividend date is Friday, June 28th. This represents a $1.96 annualized dividend and a yield of 4.99%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 64.90%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on USB shares. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $45.00 price objective (down from $52.00) on shares of U.S. Bancorp in a research note on Thursday, April 18th. Royal Bank of Canada reissued an “outperform” rating and set a $47.00 price objective on shares of U.S. Bancorp in a research note on Thursday, May 16th. DA Davidson reduced their price objective on U.S. Bancorp from $45.00 to $44.00 and set a “neutral” rating on the stock in a research note on Thursday, April 18th. Evercore ISI boosted their price objective on U.S. Bancorp from $46.00 to $48.00 and gave the stock an “in-line” rating in a research note on Thursday, March 28th. Finally, UBS Group reduced their price objective on U.S. Bancorp from $47.00 to $43.00 and set a “neutral” rating on the stock in a research note on Friday, April 19th. Fifteen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, U.S. Bancorp has a consensus rating of “Hold” and a consensus target price of $46.02.

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.