Andra AP fonden Raises Stock Holdings in U.S. Bancorp (NYSE:USB)

Andra AP fonden increased its position in U.S. Bancorp (NYSE:USB) by 505.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 156,900 shares of the financial services provider’s stock after acquiring an additional 131,000 shares during the period. Andra AP fonden’s holdings in U.S. Bancorp were worth $6,229,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Focus Financial Network Inc. ADV purchased a new position in U.S. Bancorp in the 4th quarter worth $5,440,000. Morningstar Investment Management LLC raised its stake in shares of 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 valued at $3,628,000 after buying an additional 74,094 shares during the last quarter. Brookstone Capital Management raised its stake in shares of 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 valued at $9,774,000 after buying an additional 208,528 shares during the last quarter. Artisan Partners Limited Partnership raised its stake in shares of 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 valued at $137,988,000 after buying an additional 76,053 shares during the last quarter. Finally, Manning & Napier Advisors LLC purchased a new position in shares of U.S. Bancorp during the 2nd quarter valued at about $20,188,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on USB. Citigroup lifted their price objective on U.S. Bancorp from $45.00 to $49.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. The Goldman Sachs Group reduced their price objective on U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating for the company in a research note on Wednesday. Morgan Stanley lifted their price objective on U.S. Bancorp from $47.00 to $54.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. StockNews.com upgraded U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Finally, DA Davidson raised their target price on U.S. Bancorp from $44.00 to $49.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. Thirteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $48.18.

Insider Transactions at U.S. Bancorp

In related news, Director Aleem Gillani bought 10,000 shares of the stock in a transaction dated Thursday, July 18th. The shares were acquired at an average cost of $44.99 per share, for a total transaction of $449,900.00. Following the acquisition, the director now directly owns 10,000 shares in the company, valued at approximately $449,900. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.23% of the company’s stock.

U.S. Bancorp Trading Down 0.6 %

USB stock opened at $44.75 on Thursday. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.05. U.S. Bancorp has a 12-month low of $30.47 and a 12-month high of $47.31. The stock has a market cap of $69.83 billion, a price-to-earnings ratio of 14.82, a PEG ratio of 4.34 and a beta of 1.03. The business’s 50-day moving average is $43.74 and its 200 day moving average is $42.16.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.04. The company had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.81 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. U.S. Bancorp’s revenue was down 4.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.12 EPS. On average, sell-side analysts anticipate that U.S. Bancorp will post 3.87 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 4.38%. The ex-dividend date was Friday, June 28th. U.S. Bancorp’s dividend payout ratio is currently 64.90%.

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.