AMF Tjanstepension AB Increases Stock Holdings in U.S. Bancorp (NYSE:USB)

AMF Tjanstepension AB grew its position in U.S. Bancorp (NYSE:USB) by 16.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 532,105 shares of the financial services provider’s stock after purchasing an additional 76,914 shares during the period. AMF Tjanstepension AB’s holdings in U.S. Bancorp were worth $24,401,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in USB. Valmark Advisers Inc. raised its position in U.S. Bancorp by 2.9% in the second quarter. Valmark Advisers Inc. now owns 8,707 shares of the financial services provider’s stock worth $346,000 after acquiring an additional 242 shares in the last quarter. Waldron Private Wealth LLC increased its stake in U.S. Bancorp by 1.9% in the 2nd quarter. Waldron Private Wealth LLC now owns 13,285 shares of the financial services provider’s stock worth $534,000 after purchasing an additional 247 shares in the last quarter. Naples Global Advisors LLC increased its stake in U.S. Bancorp by 0.4% in the 2nd quarter. Naples Global Advisors LLC now owns 65,360 shares of the financial services provider’s stock worth $2,624,000 after purchasing an additional 248 shares in the last quarter. Kavar Capital Partners Group LLC increased its stake 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 increased 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 in the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Down 0.5 %

USB opened at $44.25 on Thursday. The business has a 50 day moving average price of $44.51 and a 200 day moving average price of $42.43. U.S. Bancorp has a twelve month low of $30.47 and a twelve month high of $47.31. 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 has a market cap of $69.05 billion, a P/E ratio of 14.65, a price-to-earnings-growth ratio of 3.06 and a beta of 1.04.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.98 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $6.81 billion. During the same period in the previous year, the company earned $1.12 earnings per share. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. Research analysts forecast that U.S. Bancorp will post 3.86 EPS for the current year.

U.S. Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, September 30th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.52%. U.S. Bancorp’s payout ratio is 66.23%.

U.S. Bancorp declared that its Board of Directors has approved a share repurchase plan on Thursday, September 12th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the financial services provider to purchase up to 7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

A number of equities analysts recently weighed in on USB shares. Royal Bank of Canada reissued an “outperform” rating and issued a $48.00 price target on shares of U.S. Bancorp in a research note on Friday, September 13th. DA Davidson lifted their target price on U.S. Bancorp from $44.00 to $49.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Morgan Stanley raised U.S. Bancorp from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $54.00 to $57.00 in a research note on Monday. JPMorgan Chase & Co. cut 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. Finally, Citigroup lifted their target price 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. Twelve equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $48.65.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp 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 cost of $44.99 per share, for a total transaction of $449,900.00. Following the completion of the acquisition, the director now directly owns 10,000 shares in the company, valued at $449,900. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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.