Rhumbline Advisers Purchases 150,295 Shares of U.S. Bancorp (NYSE:USB)

Rhumbline Advisers increased its position in shares of U.S. Bancorp (NYSE:USB) by 4.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,331,481 shares of the financial services provider’s stock after acquiring an additional 150,295 shares during the quarter. Rhumbline Advisers owned about 0.21% of U.S. Bancorp worth $132,260,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of USB. Focus Financial Network Inc. ADV acquired a new stake in U.S. Bancorp during the 4th quarter worth approximately $5,440,000. Morningstar Investment Management LLC raised its holdings in U.S. Bancorp by 760.8% during the 4th quarter. Morningstar Investment Management LLC now owns 83,833 shares of the financial services provider’s stock worth $3,628,000 after buying an additional 74,094 shares during the period. Brookstone Capital Management raised its holdings in U.S. Bancorp by 2,056.5% during the 1st quarter. Brookstone Capital Management now owns 218,668 shares of the financial services provider’s stock worth $9,774,000 after buying an additional 208,528 shares during the period. Artisan Partners Limited Partnership raised its holdings in U.S. Bancorp by 2.4% during the 4th quarter. Artisan Partners Limited Partnership now owns 3,188,254 shares of the financial services provider’s stock worth $137,988,000 after buying an additional 76,053 shares during the period. Finally, Manning & Napier Advisors LLC acquired a new stake in U.S. Bancorp during the 2nd quarter worth approximately $20,188,000. Institutional investors own 77.60% of the company’s stock.

Wall Street Analyst Weigh In

USB has been the topic of several research analyst reports. The Goldman Sachs Group raised their target price on shares of U.S. Bancorp from $42.00 to $47.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. DA Davidson lifted their price objective on shares of U.S. Bancorp from $44.00 to $49.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. UBS Group lifted their price objective on shares of U.S. Bancorp from $43.00 to $46.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. Wells Fargo & Company lifted their price objective on shares of U.S. Bancorp from $48.00 to $52.00 and gave the company an “overweight” rating in a report on Thursday, July 18th. Finally, JPMorgan Chase & Co. downgraded shares of U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price objective on the stock. in a report on Thursday, June 27th. Thirteen analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $48.23.

Insider Activity

In other U.S. Bancorp news, Director Aleem Gillani bought 10,000 shares of U.S. Bancorp stock in a transaction dated Thursday, July 18th. The stock was bought at an average price of $44.99 per share, with a total value of $449,900.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at approximately $449,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.23% of the stock is currently owned by company insiders.

U.S. Bancorp Trading Down 1.8 %

USB stock opened at $46.40 on Wednesday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.80. The company has a fifty day moving average price of $43.07 and a two-hundred day moving average price of $42.00. U.S. Bancorp has a one year low of $30.47 and a one year high of $47.31. The stock has a market cap of $72.41 billion, a price-to-earnings ratio of 15.36, a price-to-earnings-growth ratio of 4.57 and a beta of 1.04.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.04. The company had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.81 billion. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. U.S. Bancorp’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.12 earnings per share. Equities analysts anticipate that U.S. Bancorp will post 3.89 EPS for the current year.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were given a $0.49 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.22%. U.S. Bancorp’s payout ratio is presently 64.90%.

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.