Oppenheimer & Co. Inc. Buys 5,840 Shares of U.S. Bancorp (NYSE:USB)

Oppenheimer & Co. Inc. grew its position in U.S. Bancorp (NYSE:USB) by 4.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 127,406 shares of the financial services provider’s stock after acquiring an additional 5,840 shares during the period. Oppenheimer & Co. Inc.’s holdings in U.S. Bancorp were worth $5,058,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Financial Synergies Wealth Advisors Inc. bought a new position in U.S. Bancorp in the first quarter valued at about $30,000. LRI Investments LLC bought a new stake in shares of U.S. Bancorp in the first quarter worth $31,000. Eagle Bay Advisors LLC increased its holdings in U.S. Bancorp by 93.2% in the first quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 331 shares during the period. 1620 Investment Advisors Inc. bought a new position in U.S. Bancorp during the 2nd quarter worth $30,000. Finally, Y.D. More Investments Ltd acquired a new position in U.S. Bancorp during the 2nd quarter worth about $33,000. 77.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on USB. JPMorgan Chase & Co. downgraded U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price objective for the company. in a research report on Thursday, June 27th. Citigroup boosted their price target 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. UBS Group increased 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 report on Thursday, July 18th. 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. Finally, Jefferies Financial Group cut their price target on shares of U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating on the stock in a research report on Wednesday, July 3rd. Thirteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $48.18.

Insider Activity at U.S. Bancorp

In other news, Director Aleem Gillani purchased 10,000 shares of the business’s stock in a transaction dated Thursday, July 18th. The stock was bought at an average price of $44.99 per share, for a total transaction of $449,900.00. Following the purchase, the director now owns 10,000 shares of the company’s stock, valued at $449,900. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.23% of the stock is owned by company insiders.

U.S. Bancorp Price Performance

Shares of NYSE USB opened at $44.62 on Friday. 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’s 50-day simple moving average is $43.93 and its 200 day simple moving average is $42.20. The stock has a market cap of $69.63 billion, a price-to-earnings ratio of 14.77, a PEG ratio of 4.36 and a beta of 1.04. U.S. Bancorp has a fifty-two week low of $30.47 and a fifty-two week high of $47.31.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.04. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The company had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.81 billion. During the same period last year, the firm earned $1.12 earnings per share. The firm’s revenue was down 4.3% on a year-over-year basis. As a group, research analysts anticipate that U.S. Bancorp will post 3.87 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $2.00 annualized dividend and a dividend yield of 4.48%. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s dividend payout ratio (DPR) is presently 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.