Parsons Capital Management Inc. RI Has $1.76 Million Stock Holdings in U.S. Bancorp (NYSE:USB)

Parsons Capital Management Inc. RI decreased its holdings in shares of U.S. Bancorp (NYSE:USB) by 11.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 36,821 shares of the financial services provider’s stock after selling 4,538 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in U.S. Bancorp were worth $1,761,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Brooklyn Investment Group boosted its holdings in U.S. Bancorp by 4.4% during the third quarter. Brooklyn Investment Group now owns 4,792 shares of the financial services provider’s stock worth $219,000 after buying an additional 201 shares during the last quarter. McAdam LLC increased its stake in shares of U.S. Bancorp by 2.5% in the 3rd quarter. McAdam LLC now owns 8,503 shares of the financial services provider’s stock valued at $389,000 after acquiring an additional 209 shares during the last quarter. HCR Wealth Advisors raised its position in shares of U.S. Bancorp by 1.1% in the 4th quarter. HCR Wealth Advisors now owns 20,107 shares of the financial services provider’s stock valued at $962,000 after acquiring an additional 211 shares during the period. Priebe Wealth Holdings LLC boosted its stake in U.S. Bancorp by 4.4% during the 4th quarter. Priebe Wealth Holdings LLC now owns 5,078 shares of the financial services provider’s stock worth $243,000 after acquiring an additional 215 shares during the last quarter. Finally, Essex Savings Bank grew its holdings in U.S. Bancorp by 1.8% during the fourth quarter. Essex Savings Bank now owns 12,350 shares of the financial services provider’s stock valued at $591,000 after purchasing an additional 216 shares during the period. 77.60% of the stock is currently owned by institutional investors.

U.S. Bancorp Trading Up 0.9 %

Shares of USB stock opened at $49.52 on Tuesday. The company has a market cap of $77.25 billion, a P/E ratio of 13.07, a PEG ratio of 1.81 and a beta of 1.05. U.S. Bancorp has a fifty-two week low of $37.81 and a fifty-two week high of $53.98. The stock has a 50 day simple moving average of $49.99 and a two-hundred day simple moving average of $47.20. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.01. The company had revenue of $7.01 billion during the quarter, compared to analyst estimates of $7 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. U.S. Bancorp’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.99 EPS. Research analysts forecast that U.S. Bancorp will post 4.37 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.50 per share. The ex-dividend date was Tuesday, December 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.04%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 52.77%.

Analyst Ratings Changes

USB has been the topic of a number of recent analyst reports. Compass Point lifted their price target on shares of U.S. Bancorp from $49.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Evercore ISI lifted their target price on U.S. Bancorp from $51.00 to $54.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. Barclays increased their price target on U.S. Bancorp from $57.00 to $61.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Raymond James upgraded U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price objective on the stock in a report on Thursday, December 19th. Finally, Oppenheimer increased their target price on U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $54.21.

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.