Bank of Montreal Can Raises Stock Position in U.S. Bancorp (NYSE:USB)

Bank of Montreal Can lifted its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 29.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,326,254 shares of the financial services provider's stock after buying an additional 983,795 shares during the period. Bank of Montreal Can owned approximately 0.28% of U.S. Bancorp worth $206,925,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Cerity Partners LLC grew its position in U.S. Bancorp by 4.0% in the 4th quarter. Cerity Partners LLC now owns 725,231 shares of the financial services provider's stock valued at $34,302,000 after buying an additional 28,172 shares during the last quarter. FMR LLC lifted its stake in shares of U.S. Bancorp by 5.0% in the 4th quarter. FMR LLC now owns 67,125,746 shares of the financial services provider's stock worth $3,210,624,000 after acquiring an additional 3,211,815 shares during the period. Aster Capital Management DIFC Ltd purchased a new stake in shares of U.S. Bancorp in the fourth quarter valued at about $333,000. Federated Hermes Inc. increased its stake in shares of U.S. Bancorp by 0.6% during the fourth quarter. Federated Hermes Inc. now owns 9,458,048 shares of the financial services provider's stock worth $452,378,000 after acquiring an additional 58,973 shares during the period. Finally, Peapack Gladstone Financial Corp raised its holdings in U.S. Bancorp by 2.0% during the fourth quarter. Peapack Gladstone Financial Corp now owns 255,328 shares of the financial services provider's stock worth $12,213,000 after purchasing an additional 4,988 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company's stock.

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U.S. Bancorp Trading Up 1.6 %

Shares of NYSE USB traded up $0.60 during midday trading on Friday, reaching $37.85. 18,550,879 shares of the stock were exchanged, compared to its average volume of 8,990,550. The stock has a 50 day moving average price of $43.46 and a 200-day moving average price of $47.04. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. The company has a market capitalization of $58.97 billion, a P/E ratio of 9.99, a P/E/G ratio of 1.73 and a beta of 0.91. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $53.98.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its earnings results on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, topping the consensus estimate of $1.06 by $0.01. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The firm had revenue of $7.01 billion during the quarter, compared to analysts' expectations of $7 billion. During the same period in the previous year, the company earned $0.99 EPS. U.S. Bancorp's revenue for the quarter was up 3.7% on a year-over-year basis. Equities research analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 5.28%. The ex-dividend date is Monday, March 31st. U.S. Bancorp's payout ratio is 52.77%.

Insiders Place Their Bets

In related news, insider Jodi L. Richard sold 30,000 shares of U.S. Bancorp stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $47.59, for a total value of $1,427,700.00. Following the transaction, the insider now owns 99,790 shares in the company, valued at approximately $4,749,006.10. This trade represents a 23.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew Cecere sold 102,044 shares of the business's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $47.25, for a total value of $4,821,579.00. Following the sale, the chief executive officer now directly owns 1,230,316 shares of the company's stock, valued at approximately $58,132,431. This trade represents a 7.66 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 219,812 shares of company stock valued at $10,385,665. Insiders own 0.23% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Citigroup dropped their target price on U.S. Bancorp from $65.00 to $55.00 and set a "buy" rating on the stock in a research report on Monday, March 24th. Bank of America dropped their price objective on U.S. Bancorp from $50.00 to $49.00 and set a "buy" rating on the stock in a report on Monday, March 17th. Raymond James raised U.S. Bancorp from a "market perform" rating to an "outperform" rating and set a $57.00 target price for the company in a report on Thursday, December 19th. The Goldman Sachs Group lowered their price target on shares of U.S. Bancorp from $51.00 to $45.00 and set a "neutral" rating on the stock in a research note on Wednesday, March 19th. Finally, JPMorgan Chase & Co. reiterated an "underweight" rating and issued a $43.50 price objective (down previously from $51.00) on shares of U.S. Bancorp in a research note on Thursday, April 3rd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $52.52.

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.