Elo Mutual Pension Insurance Co Sells 9,127 Shares of U.S. Bancorp (NYSE:USB)

Elo Mutual Pension Insurance Co decreased its holdings in U.S. Bancorp (NYSE:USB) by 6.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 133,230 shares of the financial services provider’s stock after selling 9,127 shares during the period. Elo Mutual Pension Insurance Co’s holdings in U.S. Bancorp were worth $5,289,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of USB. Redwood Wealth Management Group LLC bought a new stake in U.S. Bancorp in the 2nd quarter worth about $25,000. Financial Synergies Wealth Advisors Inc. bought a new stake in shares of U.S. Bancorp in the first quarter worth approximately $30,000. 1620 Investment Advisors Inc. purchased a new position in shares of U.S. Bancorp during the second quarter valued at approximately $30,000. Eagle Bay Advisors LLC lifted its position in U.S. Bancorp by 93.2% during 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. Finally, LRI Investments LLC purchased a new stake in U.S. Bancorp in the first quarter worth approximately $31,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Performance

NYSE USB opened at $45.19 on Thursday. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.05. U.S. Bancorp has a twelve month low of $30.47 and a twelve month high of $47.31. The business has a 50-day moving average price of $44.22 and a 200-day moving average price of $42.27. The firm has a market cap of $70.52 billion, a price-to-earnings ratio of 14.96, a price-to-earnings-growth ratio of 4.36 and a beta of 1.04.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.04. The business 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 firm’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.12 EPS. As a group, equities research analysts predict that U.S. Bancorp will post 3.87 EPS 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. Shareholders of record on Monday, September 30th will be issued a $0.50 dividend. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 dividend on an annualized basis and a yield of 4.43%. The ex-dividend date of this dividend is Monday, September 30th. U.S. Bancorp’s payout ratio is currently 66.23%.

Insiders Place Their Bets

In other news, Director Aleem Gillani acquired 10,000 shares of the business’s stock in a transaction dated Thursday, July 18th. The stock was purchased at an average price of $44.99 per share, for a total transaction of $449,900.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $449,900. The acquisition was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Citigroup increased their price target on U.S. Bancorp from $45.00 to $49.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. UBS Group increased their target price on U.S. Bancorp from $43.00 to $46.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. JPMorgan Chase & Co. downgraded U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price target for the company. in a research note on Thursday, June 27th. Morgan Stanley increased their price objective on shares of U.S. Bancorp from $47.00 to $54.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Finally, DA Davidson boosted their target price on shares of 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average 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.