U.S. Bancorp (NYSE:USB) Shares Acquired by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt increased its holdings in shares of U.S. Bancorp (NYSE:USB) by 352.8% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,809 shares of the financial services provider’s stock after purchasing an additional 9,201 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in U.S. Bancorp were worth $545,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Quarry LP purchased a new stake in U.S. Bancorp during the 4th quarter worth $45,000. Scarborough Advisors LLC purchased a new stake in shares of U.S. Bancorp in the fourth quarter worth about $48,000. Richardson Financial Services Inc. acquired a new stake in shares of U.S. Bancorp in the fourth quarter valued at about $237,000. Fisher Asset Management LLC grew its stake in shares of U.S. Bancorp by 1.0% in the fourth quarter. Fisher Asset Management LLC now owns 4,695,049 shares of the financial services provider’s stock valued at $203,202,000 after buying an additional 44,484 shares in the last quarter. Finally, SageView Advisory Group LLC raised its holdings in shares of U.S. Bancorp by 29.9% during the 4th quarter. SageView Advisory Group LLC now owns 47,478 shares of the financial services provider’s stock valued at $2,058,000 after buying an additional 10,938 shares during the period. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, Director Aleem Gillani bought 10,000 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The stock was acquired at an average cost of $44.99 per share, with a total value of $449,900.00. Following the completion of the purchase, the director now directly owns 10,000 shares in the company, valued at approximately $449,900. The purchase 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 Ratings Changes

USB has been the subject of several recent research reports. Citigroup increased their price objective on shares of U.S. Bancorp from $45.00 to $49.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. DA Davidson raised 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. The Goldman Sachs Group cut their price objective on shares of U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating on the stock in a report on Wednesday, September 11th. Morgan Stanley raised shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $54.00 to $57.00 in a research report on Monday, September 30th. Finally, Wells Fargo & Company lifted their target price on U.S. Bancorp from $48.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, July 18th. Twelve equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $49.14.

U.S. Bancorp Stock Up 2.9 %

USB stock opened at $46.26 on Monday. The firm’s 50-day moving average is $44.55 and its two-hundred day moving average is $42.50. The company has a market capitalization of $72.19 billion, a price-to-earnings ratio of 15.32, a price-to-earnings-growth ratio of 3.32 and a beta of 1.03. U.S. Bancorp has a 52 week low of $30.47 and a 52 week high of $47.31. 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 (NYSE:USB) last announced its earnings results on Wednesday, July 17th. The financial services provider reported $0.98 EPS for the quarter, topping the consensus estimate of $0.94 by $0.04. The firm had revenue of $6.87 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.12 earnings per share. On average, analysts forecast that U.S. Bancorp will post 3.86 earnings per share for the current fiscal year.

U.S. Bancorp announced that its Board of Directors has approved a stock repurchase plan on Thursday, September 12th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

U.S. Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a dividend of $0.50 per share. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date is Monday, September 30th. This represents a $2.00 annualized dividend and a dividend yield of 4.32%. U.S. Bancorp’s dividend payout ratio (DPR) is 66.23%.

U.S. Bancorp Company 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.