Citizens Financial Group Inc. RI Raises Stake in U.S. Bancorp (NYSE:USB)

Citizens Financial Group Inc. RI grew its position in U.S. Bancorp (NYSE:USB) by 251.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,485 shares of the financial services provider’s stock after purchasing an additional 14,652 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in U.S. Bancorp were worth $813,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Valmark Advisers Inc. increased its stake in U.S. Bancorp by 2.9% in the 2nd quarter. Valmark Advisers Inc. now owns 8,707 shares of the financial services provider’s stock worth $346,000 after buying an additional 242 shares in the last quarter. Waldron Private Wealth LLC raised its stake in U.S. Bancorp by 1.9% during the 2nd quarter. Waldron Private Wealth LLC now owns 13,285 shares of the financial services provider’s stock valued at $534,000 after purchasing an additional 247 shares during the period. Naples Global Advisors LLC raised its stake in U.S. Bancorp by 0.4% during the 2nd quarter. Naples Global Advisors LLC now owns 65,360 shares of the financial services provider’s stock valued at $2,624,000 after purchasing an additional 248 shares during the period. Kavar Capital Partners Group LLC lifted its holdings in U.S. Bancorp by 4.7% in the 2nd quarter. Kavar Capital Partners Group LLC now owns 5,555 shares of the financial services provider’s stock worth $221,000 after purchasing an additional 250 shares in the last quarter. Finally, STAR Financial Bank boosted its stake in U.S. Bancorp by 3.3% in the 2nd quarter. STAR Financial Bank now owns 7,772 shares of the financial services provider’s stock worth $309,000 after purchasing an additional 250 shares during the period. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Price Performance

USB stock opened at $44.68 on Wednesday. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.05. U.S. Bancorp has a 12 month low of $30.47 and a 12 month high of $47.31. The stock has a market cap of $69.72 billion, a PE ratio of 14.79, a P/E/G ratio of 4.36 and a beta of 1.04. The company has a 50-day moving average price of $44.14 and a 200 day moving average price of $42.25.

U.S. Bancorp (NYSE:USB) last released its earnings results 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. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The firm had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.81 billion. During the same quarter in the prior year, the firm posted $1.12 earnings per share. The company’s quarterly revenue was down 4.3% on a year-over-year basis. Equities research analysts anticipate that U.S. Bancorp will post 3.87 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a $0.50 dividend. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. 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 4.48%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 66.23%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on USB shares. Royal Bank of Canada reissued an “outperform” rating and issued a $48.00 target price on shares of U.S. Bancorp in a report on Friday, September 13th. Wells Fargo & Company boosted their price target on shares of U.S. Bancorp from $48.00 to $52.00 and gave the stock an “overweight” rating in a research note on Thursday, July 18th. Evercore ISI raised their price objective on U.S. Bancorp from $45.00 to $48.00 and gave the company an “in-line” rating in a research report on Tuesday, June 25th. StockNews.com upgraded U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Finally, Morgan Stanley raised 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 research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $48.18.

Insider Transactions at U.S. Bancorp

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

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.