Davidson Investment Advisors Grows Stock Position in U.S. Bancorp (NYSE:USB)

Davidson Investment Advisors raised its stake in shares of U.S. Bancorp (NYSE:USB) by 4.0% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 7,653 shares of the financial services provider’s stock after buying an additional 297 shares during the period. Davidson Investment Advisors’ holdings in U.S. Bancorp were worth $436,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its stake in shares of U.S. Bancorp by 54.6% during the 1st quarter. JPMorgan Chase & Co. now owns 36,167,368 shares of the financial services provider’s stock valued at $2,000,417,000 after buying an additional 12,779,463 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of U.S. Bancorp by 2.8% during the 1st quarter. Geode Capital Management LLC now owns 21,438,355 shares of the financial services provider’s stock valued at $1,182,720,000 after buying an additional 589,802 shares during the last quarter. Davis Selected Advisers increased its stake in shares of U.S. Bancorp by 7.7% in the 1st quarter. Davis Selected Advisers now owns 18,170,271 shares of the financial services provider’s stock valued at $1,004,998,000 after purchasing an additional 1,296,831 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of U.S. Bancorp by 22.2% in the 1st quarter. Ameriprise Financial Inc. now owns 12,478,633 shares of the financial services provider’s stock valued at $690,275,000 after purchasing an additional 2,267,492 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of U.S. Bancorp by 3.8% in the 1st quarter. Franklin Resources Inc. now owns 11,343,445 shares of the financial services provider’s stock valued at $627,402,000 after purchasing an additional 415,910 shares in the last quarter. Institutional investors and hedge funds own 73.80% of the company’s stock.

Several brokerages recently weighed in on USB. Barclays lifted their price target on U.S. Bancorp from $65.00 to $68.00 and gave the company an “overweight” rating in a research note on Friday, July 16th. Odeon Capital Group lowered U.S. Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, July 19th. Compass Point lifted their price target on U.S. Bancorp from $59.00 to $61.00 and gave the company a “neutral” rating in a research note on Tuesday, May 18th. Morgan Stanley lifted their price target on U.S. Bancorp from $60.00 to $62.00 and gave the company an “equal weight” rating in a research note on Thursday, July 29th. Finally, Oppenheimer lifted their price target on U.S. Bancorp from $70.00 to $73.00 and gave the company an “outperform” rating in a research note on Friday, July 16th. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, U.S. Bancorp presently has a consensus rating of “Buy” and an average price target of $62.37.

Shares of U.S. Bancorp stock traded up $1.10 on Wednesday, hitting $57.01. 49,211 shares of the company were exchanged, compared to its average volume of 6,539,679. The stock has a market capitalization of $84.52 billion, a price-to-earnings ratio of 11.97, a price-to-earnings-growth ratio of 1.71 and a beta of 1.14. The company has a 50-day moving average price of $56.53 and a 200 day moving average price of $57.08. U.S. Bancorp has a 1-year low of $34.17 and a 1-year high of $62.47. The company has a quick ratio of 0.74, a current ratio of 0.76 and a debt-to-equity ratio of 0.76.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, July 14th. The financial services provider reported $1.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.14 by $0.14. The business had revenue of $5.78 billion for the quarter, compared to analysts’ expectations of $5.62 billion. U.S. Bancorp had a return on equity of 15.18% and a net margin of 29.83%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.41 EPS. Research analysts forecast that U.S. Bancorp will post 5 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 15th. Stockholders of record on Thursday, September 30th will be issued a dividend of $0.46 per share. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.42. This represents a $1.84 annualized dividend and a dividend yield of 3.23%. U.S. Bancorp’s payout ratio is currently 54.90%.

U.S. Bancorp Company Profile

U.S. Bancorp operates as a bank holding company, which offers financial services including lending and depository services, cash management, foreign exchange and trust and investment management. The firm also offers mortgage, refinance, auto, boat and RV loans, credit lines, credit card services, merchant, bank, checking and savings accounts, debit cards, online and mobile banking, ATM processing, mortgage banking, insurance, brokerage and leasing services.

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

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