U.S. Bancorp (NYSE:USB) Position Increased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company increased its position in shares of U.S. Bancorp (NYSE:USB) by 1.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,224,458 shares of the financial services provider’s stock after acquiring an additional 31,646 shares during the period. The Manufacturers Life Insurance Company owned about 0.14% of U.S. Bancorp worth $106,396,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of USB. Norges Bank acquired a new position in U.S. Bancorp during the fourth quarter worth $777,524,000. Invesco Ltd. increased its position in U.S. Bancorp by 48.1% during the fourth quarter. Invesco Ltd. now owns 16,787,513 shares of the financial services provider’s stock worth $802,947,000 after buying an additional 5,449,949 shares during the last quarter. Franklin Resources Inc. increased its position in U.S. Bancorp by 153.0% during the third quarter. Franklin Resources Inc. now owns 7,949,347 shares of the financial services provider’s stock worth $374,573,000 after buying an additional 4,807,662 shares during the last quarter. Marshall Wace LLP increased its position in U.S. Bancorp by 414.1% during the fourth quarter. Marshall Wace LLP now owns 5,789,565 shares of the financial services provider’s stock worth $276,915,000 after buying an additional 4,663,518 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in U.S. Bancorp during the fourth quarter worth $184,733,000. 77.60% of the stock is owned by institutional investors and hedge funds.

U.S. Bancorp Trading Up 0.6 %

NYSE USB opened at $40.15 on Tuesday. The firm has a market cap of $62.55 billion, a P/E ratio of 10.59, a P/E/G ratio of 1.73 and a beta of 0.91. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.80. The stock’s 50-day moving average is $41.57 and its 200-day moving average is $46.57. U.S. Bancorp has a one year low of $35.18 and a one year high of $53.98.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.06. The company had revenue of $6.96 billion for the quarter, compared to analyst estimates of $6.92 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. During the same quarter last year, the firm posted $0.78 earnings per share. Sell-side analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.98%. The ex-dividend date was Monday, March 31st. U.S. Bancorp’s dividend payout ratio is presently 49.50%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on USB. DA Davidson lowered their price target on U.S. Bancorp from $54.00 to $49.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. Citigroup lowered their price target on U.S. Bancorp from $65.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, March 24th. Raymond James reaffirmed an “outperform” rating and issued a $51.00 price target (down from $57.00) on shares of U.S. Bancorp in a research report on Thursday, April 17th. Keefe, Bruyette & Woods lowered their price target on U.S. Bancorp from $54.00 to $49.00 and set a “market perform” rating on the stock in a research report on Thursday, April 17th. Finally, Bank of America lowered their price target on U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating on the stock in a research report on Monday, March 17th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $50.48.

Insider Activity at U.S. Bancorp

In related news, insider Terrance R. Dolan sold 66,317 shares of U.S. Bancorp stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $46.96, for a total value of $3,114,246.32. Following the sale, the insider now owns 209,482 shares of the company’s stock, valued at approximately $9,837,274.72. This trade represents a 24.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Aleem Gillani bought 5,000 shares of the company’s stock in a transaction that occurred on Monday, April 21st. The stock was purchased at an average cost of $37.32 per share, for a total transaction of $186,600.00. Following the transaction, the director now owns 15,000 shares in the company, valued at $559,800. The trade was a 50.00 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 219,812 shares of company stock valued at $10,385,665. 0.23% of the stock is owned by insiders.

About U.S. Bancorp

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.