Profund Advisors LLC Raises Stock Holdings in U.S. Bancorp (NYSE:USB)

Profund Advisors LLC raised its position in shares of U.S. Bancorp (NYSE:USB) by 21.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,313 shares of the financial services provider’s stock after acquiring an additional 9,127 shares during the period. Profund Advisors LLC’s holdings in U.S. Bancorp were worth $2,689,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Manchester Financial Inc. purchased a new stake in shares of U.S. Bancorp during the 2nd quarter worth approximately $30,000. Trustcore Financial Services LLC purchased a new stake in shares of U.S. Bancorp during the 1st quarter worth approximately $28,000. Hillsdale Investment Management Inc. purchased a new stake in shares of U.S. Bancorp during the 2nd quarter worth approximately $37,000. Prime Capital Investment Advisors LLC raised its holdings in U.S. Bancorp by 174.0% during the 2nd quarter. Prime Capital Investment Advisors LLC now owns 707 shares of the financial services provider’s stock valued at $37,000 after buying an additional 449 shares during the period. Finally, Catamount Wealth Management raised its holdings in U.S. Bancorp by 525.0% during the 1st quarter. Catamount Wealth Management now owns 750 shares of the financial services provider’s stock valued at $36,000 after buying an additional 630 shares during the period. 75.67% of the stock is currently owned by institutional investors and hedge funds.

In other U.S. Bancorp news, Vice Chairman Gillern Jeffry H. Von sold 9,428 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $55.25, for a total value of $520,897.00. Following the sale, the insider now owns 94,658 shares in the company, valued at $5,229,854.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Vice Chairman Shailesh M. Kotwal sold 20,000 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $57.33, for a total value of $1,146,600.00. Following the completion of the sale, the insider now owns 65,959 shares in the company, valued at approximately $3,781,429.47. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,414 shares of company stock worth $2,297,215. Insiders own 0.24% of the company’s stock.

NYSE:USB traded up $0.46 during midday trading on Friday, hitting $56.19. 224,221 shares of the company traded hands, compared to its average volume of 4,626,385. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.86. The firm’s fifty day moving average is $53.54 and its 200-day moving average is $52.14. U.S. Bancorp has a 12-month low of $43.14 and a 12-month high of $57.81. The firm has a market capitalization of $88.67 billion, a P/E ratio of 13.72, a P/E/G ratio of 1.85 and a beta of 1.10.

U.S. Bancorp (NYSE:USB) last released its earnings results on Wednesday, July 17th. The financial services provider reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. U.S. Bancorp had a return on equity of 15.45% and a net margin of 26.70%. The business had revenue of $5.58 billion for the quarter, compared to analyst estimates of $5.73 billion. During the same quarter last year, the firm posted $1.02 earnings per share. The business’s revenue was down 1.1% compared to the same quarter last year. On average, research analysts expect that U.S. Bancorp will post 4.31 EPS for the current fiscal year.

U.S. Bancorp declared that its board has initiated a share repurchase program on Thursday, June 27th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 3.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

Several research firms recently weighed in on USB. Bank of America upgraded U.S. Bancorp from an “underperform” rating to a “neutral” rating and increased their price target for the company from $49.00 to $55.00 in a report on Thursday, July 18th. Credit Suisse Group restated a “hold” rating and set a $55.00 price target on shares of U.S. Bancorp in a report on Thursday. Deutsche Bank set a $59.00 price target on U.S. Bancorp and gave the company a “hold” rating in a report on Friday, July 26th. Morgan Stanley increased their price target on U.S. Bancorp from $55.00 to $56.00 and gave the company an “underweight” rating in a report on Thursday, July 18th. Finally, JPMorgan Chase & Co. upgraded U.S. Bancorp from an “underweight” rating to a “neutral” rating and increased their price target for the company from $52.50 to $57.00 in a report on Wednesday, July 31st. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $56.79.

U.S. Bancorp Company Profile

U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.

Further Reading: S&P 500 Index

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Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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