Adams Diversified Equity Fund Inc. Acquires Shares of 348,800 U.S. Bancorp (USB)

Adams Diversified Equity Fund Inc. acquired a new stake in U.S. Bancorp (NYSE:USB) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 348,800 shares of the financial services provider’s stock, valued at approximately $18,420,000.

Other institutional investors have also added to or reduced their stakes in the company. Horan Capital Management purchased a new stake in shares of U.S. Bancorp in the second quarter valued at about $109,000. Integrated Investment Consultants LLC purchased a new stake in shares of U.S. Bancorp in the second quarter valued at about $135,000. Mount Yale Investment Advisors LLC purchased a new stake in shares of U.S. Bancorp in the first quarter valued at about $141,000. Field & Main Bank raised its holdings in shares of U.S. Bancorp by 49.9% in the second quarter. Field & Main Bank now owns 3,004 shares of the financial services provider’s stock valued at $159,000 after purchasing an additional 1,000 shares during the last quarter. Finally, NEXT Financial Group Inc purchased a new stake in shares of U.S. Bancorp in the third quarter valued at about $181,000. 74.50% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Vice Chairman Terrance R. Dolan sold 15,524 shares of the firm’s stock in a transaction dated Thursday, October 18th. The shares were sold at an average price of $52.91, for a total transaction of $821,374.84. Following the completion of the sale, the insider now owns 124,086 shares in the company, valued at $6,565,390.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Gillern Jeffry H. Von sold 17,508 shares of the firm’s stock in a transaction dated Wednesday, October 24th. The stock was sold at an average price of $50.81, for a total transaction of $889,581.48. Following the sale, the insider now owns 121,137 shares of the company’s stock, valued at approximately $6,154,970.97. The disclosure for this sale can be found here. Company insiders own 0.43% of the company’s stock.

NYSE USB opened at $51.56 on Tuesday. U.S. Bancorp has a 52-week low of $48.49 and a 52-week high of $58.50. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.85 and a quick ratio of 0.84. The stock has a market cap of $82.93 billion, a P/E ratio of 15.08, a P/E/G ratio of 1.66 and a beta of 0.98.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, October 17th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.02. U.S. Bancorp had a net margin of 27.53% and a return on equity of 15.14%. The business had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.68 billion. During the same quarter last year, the company posted $0.88 earnings per share. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. On average, equities research analysts anticipate that U.S. Bancorp will post 4.1 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 28th were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date of this dividend was Thursday, September 27th. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.30. U.S. Bancorp’s dividend payout ratio (DPR) is 43.27%.

Several analysts have recently commented on the stock. CIBC upgraded shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating in a report on Thursday, October 18th. ValuEngine downgraded shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, October 16th. Zacks Investment Research upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a report on Friday, October 12th. Macquarie upgraded shares of U.S. Bancorp from a “neutral” rating to an “outperform” rating and increased their target price for the company from $56.00 to $62.00 in a report on Wednesday, October 10th. Finally, UBS Group set a $56.00 target price on shares of U.S. Bancorp and gave the company a “hold” rating in a report on Monday, October 22nd. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the stock. U.S. Bancorp has a consensus rating of “Hold” and a consensus price target of $59.36.

U.S. Bancorp Company Profile

U.S. Bancorp, a financial services holding company, provides various financial services in the United States. The company operates through five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.

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Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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