&Partners Acquires 35,568 Shares of U.S. Bancorp (NYSE:USB)

&Partners increased its holdings in U.S. Bancorp (NYSE:USB) by 564.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,865 shares of the financial services provider’s stock after purchasing an additional 35,568 shares during the period. &Partners’ holdings in U.S. Bancorp were worth $1,662,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in U.S. Bancorp by 0.4% during the first quarter. Vanguard Group Inc. now owns 135,371,282 shares of the financial services provider’s stock valued at $6,051,096,000 after buying an additional 502,776 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of U.S. Bancorp by 8.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 33,719,110 shares of the financial services provider’s stock valued at $1,459,363,000 after purchasing an additional 2,598,163 shares in the last quarter. Norges Bank bought a new stake in U.S. Bancorp in the fourth quarter worth $827,370,000. Van ECK Associates Corp raised its stake in U.S. Bancorp by 3.0% during the first quarter. Van ECK Associates Corp now owns 9,207,376 shares of the financial services provider’s stock valued at $411,570,000 after purchasing an additional 265,734 shares in the last quarter. Finally, First Eagle Investment Management LLC lifted its position in U.S. Bancorp by 0.3% during the first quarter. First Eagle Investment Management LLC now owns 8,921,691 shares of the financial services provider’s stock valued at $398,800,000 after purchasing an additional 23,826 shares during the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on USB. The Goldman Sachs Group upped their target price on shares of U.S. Bancorp from $42.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. Morgan Stanley upped their price objective on U.S. Bancorp from $47.00 to $54.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. DA Davidson lifted their target price on U.S. Bancorp from $44.00 to $49.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Jefferies Financial Group decreased their price target on U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating on the stock in a report on Wednesday, July 3rd. Finally, UBS Group lifted their price objective on shares of U.S. Bancorp from $43.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Thirteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $48.23.

U.S. Bancorp Price Performance

Shares of USB stock opened at $45.39 on Friday. The company’s 50-day simple moving average is $42.12 and its two-hundred day simple moving average is $41.69. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.80. U.S. Bancorp has a one year low of $30.47 and a one year high of $45.88. The company has a market capitalization of $70.83 billion, a P/E ratio of 15.03, a P/E/G ratio of 4.20 and a beta of 1.04.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.98 EPS for the quarter, topping the consensus estimate of $0.94 by $0.04. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The company had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.81 billion. During the same period last year, the business posted $1.12 EPS. U.S. Bancorp’s quarterly revenue was down 4.3% on a year-over-year basis. As a group, equities analysts anticipate that U.S. Bancorp will post 3.9 EPS for the current year.

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were issued a $0.49 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.96 annualized dividend and a dividend yield of 4.32%. U.S. Bancorp’s payout ratio is currently 64.90%.

Insider Buying and Selling

In other U.S. Bancorp news, Director Aleem Gillani purchased 10,000 shares of U.S. Bancorp stock in a transaction dated Thursday, July 18th. The stock was acquired at an average price of $44.99 per share, for a total transaction of $449,900.00. Following the acquisition, the director now owns 10,000 shares in the company, valued at approximately $449,900. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 0.23% of the stock is owned by insiders.

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.