SFE Investment Counsel Has $3.28 Million Holdings in U.S. Bancorp (NYSE:USB)
SFE Investment Counsel boosted its position in U.S. Bancorp (NYSE:USB) by 1.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,175 shares of the financial services provider’s stock after buying an additional 1,070 shares during the period. U.S. Bancorp makes up about 1.3% of SFE Investment Counsel’s holdings, making the stock its 26th biggest position. SFE Investment Counsel’s holdings in U.S. Bancorp were worth $3,278,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of USB. Meeder Asset Management Inc. purchased a new stake in shares of U.S. Bancorp during the 4th quarter worth $106,000. Phocas Financial Corp. purchased a new stake in shares of U.S. Bancorp during the 2nd quarter worth $109,000. Horan Capital Advisors LLC. purchased a new stake in shares of U.S. Bancorp during the 3rd quarter worth $112,000. Cerebellum GP LLC purchased a new stake in shares of U.S. Bancorp during the 4th quarter worth $123,000. Finally, Pathstone Family Office LLC boosted its position in shares of U.S. Bancorp by 13.2% during the 2nd quarter. Pathstone Family Office LLC now owns 3,317 shares of the financial services provider’s stock worth $172,000 after purchasing an additional 386 shares in the last quarter. Hedge funds and other institutional investors own 73.52% of the company’s stock.
In other news, EVP Craig E. Gifford sold 45,890 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $55.35, for a total transaction of $2,540,011.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman P.W. Parker sold 98,485 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $55.95, for a total transaction of $5,510,235.75. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 168,016 shares of company stock valued at $9,356,775. Corporate insiders own 0.39% of the company’s stock.
U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, January 17th. The financial services provider reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.01. U.S. Bancorp had a net margin of 25.91% and a return on equity of 13.89%. The firm had revenue of $5.64 billion during the quarter, compared to the consensus estimate of $5.59 billion. During the same quarter in the previous year, the company posted $0.82 EPS. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. sell-side analysts predict that U.S. Bancorp will post 4.05 EPS for the current year.
Several equities research analysts have commented on the stock. Barclays boosted their target price on shares of U.S. Bancorp from $60.00 to $65.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. Oppenheimer restated a “hold” rating on shares of U.S. Bancorp in a research report on Wednesday, January 17th. JPMorgan Chase & Co. lowered shares of U.S. Bancorp from a “neutral” rating to an “underweight” rating and set a $58.50 target price on the stock. in a research report on Wednesday, January 31st. Morgan Stanley boosted their target price on shares of U.S. Bancorp from $60.00 to $61.00 and gave the stock an “underweight” rating in a research report on Friday, February 2nd. Finally, Royal Bank of Canada boosted their price objective on shares of U.S. Bancorp to $61.00 and gave the stock an “outperform” rating in a research report on Thursday, January 18th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $58.64.
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U.S. Bancorp Profile
U.S. Bancorp is a multi-state financial services holding company. The Company provides a full range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services. It also engages in credit card services, merchant and automated teller machine (ATM) processing, mortgage banking, insurance, brokerage and leasing.
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