Forum Financial Management LP Purchases 12,479 Shares of U.S. Bancorp (NYSE:USB)

Forum Financial Management LP raised its position in shares of U.S. Bancorp (NYSE:USB - Free Report) by 100.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,842 shares of the financial services provider's stock after acquiring an additional 12,479 shares during the period. Forum Financial Management LP's holdings in U.S. Bancorp were worth $1,188,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. grew its position in U.S. Bancorp by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 138,836,896 shares of the financial services provider's stock worth $6,640,569,000 after purchasing an additional 1,079,056 shares during the last quarter. FMR LLC increased its position in shares of U.S. Bancorp by 5.0% during the fourth quarter. FMR LLC now owns 67,125,746 shares of the financial services provider's stock valued at $3,210,624,000 after purchasing an additional 3,211,815 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of U.S. Bancorp by 5.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 49,789,725 shares of the financial services provider's stock valued at $2,381,443,000 after purchasing an additional 2,460,845 shares in the last quarter. Geode Capital Management LLC lifted its position in U.S. Bancorp by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 33,937,360 shares of the financial services provider's stock worth $1,618,948,000 after purchasing an additional 850,763 shares during the period. Finally, Amundi boosted its stake in U.S. Bancorp by 7.4% during the fourth quarter. Amundi now owns 19,485,615 shares of the financial services provider's stock worth $945,268,000 after buying an additional 1,341,407 shares in the last quarter. Institutional investors and hedge funds own 77.60% of the company's stock.

U.S. Bancorp Price Performance

Shares of USB traded up $0.50 during mid-day trading on Wednesday, reaching $39.50. The company had a trading volume of 12,750,502 shares, compared to its average volume of 9,043,303. The company has a market capitalization of $61.54 billion, a price-to-earnings ratio of 10.42, a P/E/G ratio of 1.73 and a beta of 0.91. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81. The company's 50 day simple moving average is $42.19 and its 200 day simple moving average is $46.70. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $53.98.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.06. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The company had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $6.92 billion. During the same quarter last year, the business posted $0.78 EPS. Analysts expect that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 5.06%. The ex-dividend date was Monday, March 31st. U.S. Bancorp's dividend payout ratio (DPR) is currently 49.50%.

Insider Activity

In related news, Director Aleem Gillani bought 5,000 shares of the business's stock in a transaction on Monday, April 21st. The shares were purchased at an average cost of $37.32 per share, with a total value of $186,600.00. Following the acquisition, the director now owns 15,000 shares of the company's stock, valued at $559,800. This represents a 50.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Andrew Cecere sold 102,044 shares of the 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 completion of the sale, the chief executive officer now directly owns 1,230,316 shares of the company's stock, valued at approximately $58,132,431. The trade was a 7.66 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 219,812 shares of company stock valued at $10,385,665. Insiders own 0.23% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Wolfe Research upgraded shares of U.S. Bancorp from a "peer perform" rating to an "outperform" rating and set a $49.00 target price on the stock in a research report on Thursday, April 3rd. Morgan Stanley dropped their target price on shares of U.S. Bancorp from $51.00 to $50.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. The Goldman Sachs Group reduced 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 report on Wednesday, March 19th. Keefe, Bruyette & Woods cut their target price on shares of U.S. Bancorp from $54.00 to $49.00 and set a "market perform" rating for the company in a research note on Thursday, April 17th. Finally, JPMorgan Chase & Co. reissued an "underweight" rating and issued a $43.50 price target (down previously from $51.00) on shares of U.S. Bancorp in a report on Thursday, April 3rd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $50.66.

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.