U.S. Bancorp (NYSE:USB) Shares Sold by Profund Advisors LLC

Profund Advisors LLC lowered its stake in shares of U.S. Bancorp (NYSE:USB) by 3.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,712 shares of the financial services provider’s stock after selling 896 shares during the quarter. Profund Advisors LLC’s holdings in U.S. Bancorp were worth $1,021,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Confluence Investment Management LLC acquired a new stake in shares of U.S. Bancorp during the first quarter worth $92,192,000. National Bank of Canada FI increased its holdings in shares of U.S. Bancorp by 313.8% in the second quarter. National Bank of Canada FI now owns 2,698,642 shares of the financial services provider’s stock valued at $105,903,000 after purchasing an additional 2,046,522 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of U.S. Bancorp by 88.9% during the first quarter. BNP Paribas Financial Markets now owns 2,331,050 shares of the financial services provider’s stock worth $104,198,000 after purchasing an additional 1,097,179 shares during the period. Clearbridge Investments LLC boosted its position in U.S. Bancorp by 16.2% in the first quarter. Clearbridge Investments LLC now owns 6,941,466 shares of the financial services provider’s stock valued at $310,284,000 after buying an additional 967,143 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in U.S. Bancorp by 15.6% in the 2nd quarter. American Century Companies Inc. now owns 6,846,497 shares of the financial services provider’s stock worth $271,806,000 after buying an additional 925,073 shares during the period. 77.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at U.S. Bancorp

In related news, Director Aleem Gillani purchased 10,000 shares of the company’s stock in a transaction dated Thursday, July 18th. The stock was acquired 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 directly owns 10,000 shares of the company’s stock, valued at $449,900. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.23% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. JPMorgan Chase & Co. downgraded shares of U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price objective on the stock. in a report on Thursday, June 27th. DA Davidson upped their price target on shares of U.S. Bancorp from $44.00 to $49.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. 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. StockNews.com raised U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, Morgan Stanley boosted their price target on U.S. Bancorp from $47.00 to $54.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Thirteen analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, U.S. Bancorp has an average rating of “Hold” and a consensus price target of $48.18.

U.S. Bancorp Price Performance

Shares of U.S. Bancorp stock opened at $45.86 on Tuesday. 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 business has a 50 day simple moving average of $44.46 and a two-hundred day simple moving average of $42.33. The stock has a market capitalization of $71.56 billion, a P/E ratio of 15.19, a PEG 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.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data 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 return on equity of 13.34% and a net margin of 12.55%. The company had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.81 billion. During the same quarter last year, the firm posted $1.12 EPS. The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. As a group, analysts predict that U.S. Bancorp will post 3.87 EPS for the current fiscal year.

U.S. Bancorp announced that its Board of Directors has initiated a share repurchase program on Thursday, September 12th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 7% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

U.S. Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.36%. The ex-dividend date of this dividend is Monday, September 30th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s dividend payout ratio is currently 66.23%.

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.