U.S. Bancorp (NYSE:USB) Shares Purchased by Bridges Investment Management Inc.

Bridges Investment Management Inc. raised its stake in U.S. Bancorp (NYSE:USB) by 25.7% in the second quarter, HoldingsChannel.com reports. The fund owned 90,895 shares of the financial services provider’s stock after buying an additional 18,591 shares during the quarter. Bridges Investment Management Inc.’s holdings in U.S. Bancorp were worth $3,609,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in USB. Canada Pension Plan Investment Board boosted its position in U.S. Bancorp by 22.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 329,245 shares of the financial services provider’s stock valued at $13,071,000 after purchasing an additional 59,284 shares during the period. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of U.S. Bancorp by 2.5% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 122,232 shares of the financial services provider’s stock valued at $4,852,000 after acquiring an additional 2,973 shares during the period. Ieq Capital LLC boosted its holdings in shares of U.S. Bancorp by 17.7% during the second quarter. Ieq Capital LLC now owns 64,479 shares of the financial services provider’s stock valued at $2,560,000 after acquiring an additional 9,704 shares during the period. Brighton Jones LLC grew its position in shares of U.S. Bancorp by 55.8% during the second quarter. Brighton Jones LLC now owns 43,343 shares of the financial services provider’s stock worth $1,721,000 after acquiring an additional 15,531 shares during the last quarter. Finally, XTX Topco Ltd increased its holdings in shares of U.S. Bancorp by 113.6% in the 2nd quarter. XTX Topco Ltd now owns 57,968 shares of the financial services provider’s stock worth $2,301,000 after acquiring an additional 30,824 shares during the period. 77.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on USB. StockNews.com upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. The Goldman Sachs Group decreased their price objective on U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating for the company in a report on Wednesday, September 11th. JPMorgan Chase & Co. downgraded U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 target price on the stock. in a research note on Thursday, June 27th. Citigroup increased their price target on U.S. Bancorp from $45.00 to $49.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Finally, Evercore ISI lifted their price objective on shares of U.S. Bancorp from $45.00 to $48.00 and gave the company an “in-line” rating in a research note on Tuesday, June 25th. Thirteen 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 currently has an average rating of “Hold” and a consensus price target of $48.18.

Insiders Place Their Bets

In other news, Director Aleem Gillani purchased 10,000 shares of U.S. Bancorp stock in a transaction that occurred on Thursday, July 18th. The stock was acquired at an average price of $44.99 per share, for a total transaction of $449,900.00. Following the transaction, the director now owns 10,000 shares in the company, valued at $449,900. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Up 2.8 %

USB stock opened at $46.46 on Friday. 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 firm has a market cap of $72.50 billion, a PE ratio of 15.38, a P/E/G ratio of 4.36 and a beta of 1.04. U.S. Bancorp has a 12 month low of $30.47 and a 12 month high of $47.31. The firm has a 50 day simple moving average of $44.31 and a 200 day simple moving average of $42.30.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.98 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 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 quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.12 EPS. Equities research analysts forecast 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. Investors of record on Monday, September 30th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $2.00 dividend on an annualized basis and a yield of 4.30%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s dividend payout ratio (DPR) is currently 66.23%.

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.