Corundum Group Inc. Increases Stake in U.S. Bancorp (NYSE:USB)

Corundum Group Inc. increased its holdings in U.S. Bancorp (NYSE:USB - Free Report) by 55.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 43,653 shares of the financial services provider's stock after purchasing an additional 15,534 shares during the period. Corundum Group Inc.'s holdings in U.S. Bancorp were worth $2,088,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. State Street Corp increased its stake in U.S. Bancorp by 1.2% in the 3rd quarter. State Street Corp now owns 67,282,970 shares of the financial services provider's stock worth $3,110,115,000 after purchasing an additional 819,805 shares during the period. FMR LLC raised its holdings in U.S. Bancorp by 32.7% during the 3rd quarter. FMR LLC now owns 63,913,931 shares of the financial services provider's stock valued at $2,922,784,000 after buying an additional 15,746,852 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in U.S. Bancorp by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 47,328,880 shares of the financial services provider's stock valued at $2,164,350,000 after buying an additional 1,796,336 shares during the period. Geode Capital Management LLC grew its holdings in U.S. Bancorp by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 33,086,597 shares of the financial services provider's stock worth $1,507,616,000 after acquiring an additional 599,852 shares during the last quarter. Finally, Legal & General Group Plc increased its position in shares of U.S. Bancorp by 2.7% in the second quarter. Legal & General Group Plc now owns 12,376,977 shares of the financial services provider's stock valued at $491,364,000 after acquiring an additional 325,374 shares during the period. Institutional investors own 77.60% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft cut U.S. Bancorp from a "buy" rating to a "hold" rating and set a $51.00 target price on the stock. in a research note on Thursday, October 24th. Morgan Stanley dropped their price target on U.S. Bancorp from $60.00 to $59.00 and set an "overweight" rating for the company in a research note on Friday. Wells Fargo & Company upped their price objective on shares of U.S. Bancorp from $60.00 to $62.00 and gave the stock an "overweight" rating in a report on Friday, November 15th. Evercore ISI boosted their price target on shares of U.S. Bancorp from $51.00 to $54.00 and gave the company an "in-line" rating in a research report on Wednesday, October 30th. Finally, Citigroup upgraded shares of U.S. Bancorp from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $49.00 to $65.00 in a report on Monday, November 25th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $54.21.

U.S. Bancorp Stock Performance

Shares of USB stock traded up $0.37 during trading hours on Monday, reaching $48.40. The company had a trading volume of 14,819,489 shares, compared to its average volume of 5,864,763. U.S. Bancorp has a one year low of $37.81 and a one year high of $53.98. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.81. The business has a fifty day moving average price of $50.18 and a 200-day moving average price of $46.88. The firm has a market cap of $75.50 billion, a PE ratio of 14.80, a price-to-earnings-growth ratio of 2.47 and a beta of 1.05.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, beating analysts' consensus estimates of $1.06 by $0.01. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The company had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $7 billion. During the same quarter in the prior year, the company earned $0.99 earnings per share. U.S. Bancorp's revenue was up 3.7% on a year-over-year basis. Sell-side analysts predict that U.S. Bancorp will post 3.91 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.13%. The ex-dividend date of this dividend was Tuesday, December 31st. U.S. Bancorp's payout ratio is 61.16%.

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.