Cornerstone Wealth Management LLC Increases Holdings in U.S. Bancorp (NYSE:USB)

Cornerstone Wealth Management LLC increased its stake in U.S. Bancorp (NYSE:USB) by 3.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 37,790 shares of the financial services provider’s stock after purchasing an additional 1,353 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in U.S. Bancorp were worth $1,689,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. DMC Group LLC lifted its holdings in U.S. Bancorp by 3.9% in the 1st quarter. DMC Group LLC now owns 15,658 shares of the financial services provider’s stock worth $700,000 after purchasing an additional 587 shares in the last quarter. Norden Group LLC boosted its position in shares of U.S. Bancorp by 2,436.0% during the first quarter. Norden Group LLC now owns 399,756 shares of the financial services provider’s stock worth $17,869,000 after acquiring an additional 383,993 shares during the last quarter. State of Alaska Department of Revenue grew its stake in U.S. Bancorp by 0.5% during the first quarter. State of Alaska Department of Revenue now owns 168,948 shares of the financial services provider’s stock valued at $7,551,000 after acquiring an additional 815 shares in the last quarter. Caldwell Sutter Capital Inc. increased its holdings in U.S. Bancorp by 3.7% in the 1st quarter. Caldwell Sutter Capital Inc. now owns 10,528 shares of the financial services provider’s stock valued at $471,000 after acquiring an additional 372 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in U.S. Bancorp by 0.8% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,686,118 shares of the financial services provider’s stock worth $164,769,000 after purchasing an additional 30,922 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. UBS Group dropped their price objective on shares of U.S. Bancorp from $47.00 to $43.00 and set a “neutral” rating for the company in a research note on Friday, April 19th. Jefferies Financial Group cut their price target on U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating on the stock in a report on Wednesday. Barclays reduced their price target on U.S. Bancorp from $56.00 to $52.00 and set an “overweight” rating on the stock in a research report on Thursday, April 18th. Compass Point raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their price objective for the company from $46.00 to $49.00 in a research report on Friday, March 22nd. Finally, HSBC raised U.S. Bancorp from a “hold” rating to a “buy” rating and lifted their price target for the stock from $47.00 to $53.00 in a research report on Thursday, March 28th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $45.84.

U.S. Bancorp Stock Performance

USB opened at $39.51 on Friday. U.S. Bancorp has a 1-year low of $30.47 and a 1-year high of $45.85. The stock has a market cap of $61.65 billion, a P/E ratio of 13.08, a P/E/G ratio of 3.81 and a beta of 1.04. The stock’s 50 day simple moving average is $40.26 and its 200 day simple moving average is $41.60. 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 posted its earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.01. The company had revenue of $6.72 billion for the quarter, compared to analyst estimates of $6.71 billion. U.S. Bancorp had a return on equity of 13.93% and a net margin of 12.13%. U.S. Bancorp’s revenue was down 6.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.16 earnings per share. As a group, equities analysts anticipate that U.S. Bancorp will post 3.84 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm 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. The ex-dividend date is Friday, June 28th. This represents a $1.96 annualized dividend and a yield of 4.96%. U.S. Bancorp’s dividend payout ratio (DPR) is currently 64.90%.

U.S. Bancorp 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.