Daiwa Securities Group Inc. Acquires 15,702 Shares of U.S. Bancorp (NYSE:USB)

Daiwa Securities Group Inc. raised its holdings in U.S. Bancorp (NYSE:USB) by 10.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 169,764 shares of the financial services provider’s stock after purchasing an additional 15,702 shares during the quarter. Daiwa Securities Group Inc.’s holdings in U.S. Bancorp were worth $6,740,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in USB. Doheny Asset Management CA purchased a new stake in U.S. Bancorp during the second quarter worth about $275,000. Andra AP fonden grew its position in shares of U.S. Bancorp by 505.8% during the 2nd quarter. Andra AP fonden now owns 156,900 shares of the financial services provider’s stock valued at $6,229,000 after acquiring an additional 131,000 shares during the period. LGT Fund Management Co Ltd. purchased a new stake in shares of U.S. Bancorp during the 2nd quarter worth approximately $742,000. Davis Selected Advisers raised its holdings in shares of U.S. Bancorp by 0.3% in the 2nd quarter. Davis Selected Advisers now owns 14,228,444 shares of the financial services provider’s stock worth $564,869,000 after purchasing an additional 43,437 shares during the period. Finally, Choreo LLC raised its holdings in shares of U.S. Bancorp by 88.2% in the 2nd quarter. Choreo LLC now owns 93,315 shares of the financial services provider’s stock worth $3,664,000 after purchasing an additional 43,730 shares during the period. 77.60% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Aleem Gillani bought 10,000 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The stock was bought at an average cost of $44.99 per share, for a total transaction of $449,900.00. Following the completion of the transaction, the director now owns 10,000 shares of the company’s stock, valued at $449,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Price Performance

NYSE:USB opened at $44.75 on Thursday. U.S. Bancorp has a 52-week low of $30.47 and a 52-week high of $47.31. The stock has a fifty day moving average of $43.74 and a 200 day moving average of $42.16. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.80 and a current ratio of 0.81. The firm has a market capitalization of $69.83 billion, a price-to-earnings ratio of 14.82, a P/E/G ratio of 4.34 and a beta of 1.03.

U.S. Bancorp (NYSE:USB) last issued its quarterly 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 firm had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.81 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter last year, the company posted $1.12 EPS. On average, research analysts expect that U.S. Bancorp will post 3.87 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have issued reports on USB shares. StockNews.com raised U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Morgan Stanley lifted their price objective on U.S. Bancorp from $47.00 to $54.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. UBS Group boosted their price objective on U.S. Bancorp from $43.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Citigroup increased their target price on shares of U.S. Bancorp from $45.00 to $49.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Finally, Evercore ISI lifted their target price on shares of U.S. Bancorp from $45.00 to $48.00 and gave the stock an “in-line” rating in a research note on Tuesday, June 25th. Thirteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $48.18.

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.