Brookstone Capital Management Has $9.77 Million Position in U.S. Bancorp (NYSE:USB)

Brookstone Capital Management boosted its holdings in U.S. Bancorp (NYSE:USB) by 2,056.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 218,668 shares of the financial services provider’s stock after acquiring an additional 208,528 shares during the period. Brookstone Capital Management’s holdings in U.S. Bancorp were worth $9,774,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. CGC Financial Services LLC bought a new stake in U.S. Bancorp in the 4th quarter valued at $25,000. BKM Wealth Management LLC acquired a new stake in shares of U.S. Bancorp during the fourth quarter worth $26,000. Planned Solutions Inc. bought a new stake in shares of U.S. Bancorp in the fourth quarter valued at about $27,000. Financial Synergies Wealth Advisors Inc. acquired a new position in shares of U.S. Bancorp in the first quarter valued at about $30,000. Finally, Naples Money Management LLC bought a new position in U.S. Bancorp during the fourth quarter worth about $30,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on USB shares. Barclays dropped their price target on shares of U.S. Bancorp from $56.00 to $52.00 and set an “overweight” rating for the company in a research report on Thursday, April 18th. Wells Fargo & Company dropped their price target on U.S. Bancorp from $50.00 to $48.00 and set an “overweight” rating for the company in a research note on Thursday, April 18th. Oppenheimer reduced their price objective on shares of U.S. Bancorp from $55.00 to $54.00 and set an “outperform” rating on the stock in a research note on Thursday, April 18th. JPMorgan Chase & Co. cut shares of U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 target price for the company. in a research report on Thursday. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $45.00 price target on shares of U.S. Bancorp in a research report on Friday, June 21st. Sixteen equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, U.S. Bancorp currently has an average rating of “Hold” and a consensus target price of $46.02.

U.S. Bancorp Stock Performance

U.S. Bancorp stock opened at $39.68 on Friday. The business has a 50 day moving average of $40.36 and a 200-day moving average of $41.71. The company has a market capitalization of $61.92 billion, a P/E ratio of 13.14, a P/E/G ratio of 3.85 and a beta of 1.04. U.S. Bancorp has a 1 year low of $30.47 and a 1 year high of $45.85. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.82 and a quick ratio of 0.81.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.01. The firm had revenue of $6.72 billion during the quarter, compared to analysts’ expectations of $6.71 billion. U.S. Bancorp had a net margin of 12.13% and a return on equity of 13.93%. The company’s revenue was down 6.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.16 EPS. On average, equities research analysts predict that U.S. Bancorp will post 3.84 earnings per share 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 issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 4.94%. The ex-dividend date of this dividend is Friday, June 28th. U.S. Bancorp’s payout ratio is presently 64.90%.

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.