American Century Companies Inc. Acquires 1,493,318 Shares of U.S. Bancorp (NYSE:USB)

American Century Companies Inc. lifted its holdings in U.S. Bancorp (NYSE:USB) by 17.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,070,174 shares of the financial services provider’s stock after acquiring an additional 1,493,318 shares during the period. American Century Companies Inc.’s holdings in U.S. Bancorp were worth $425,163,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Westend Capital Management LLC bought a new stake in U.S. Bancorp in the 1st quarter valued at about $27,000. YANKCOM Partnership increased its holdings in U.S. Bancorp by 59.4% during the 1st quarter. YANKCOM Partnership now owns 698 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 260 shares in the last quarter. Alpine Bank Wealth Management bought a new stake in U.S. Bancorp during the 1st quarter worth approximately $30,000. REAP Financial Group LLC boosted its stake in shares of U.S. Bancorp by 86.1% in the 4th quarter. REAP Financial Group LLC now owns 642 shares of the financial services provider’s stock worth $31,000 after buying an additional 297 shares during the last quarter. Finally, Cornerstone Planning Group LLC boosted its stake in shares of U.S. Bancorp by 118.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 776 shares of the financial services provider’s stock worth $31,000 after buying an additional 420 shares during the last quarter. 77.60% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Souheil Badran sold 23,727 shares of the company’s stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $46.34, for a total transaction of $1,099,509.18. Following the sale, the executive vice president directly owned 70,346 shares of the company’s stock, valued at $3,259,833.64. This represents a 25.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.23% of the stock is currently owned by insiders.

U.S. Bancorp Stock Up 0.5%

Shares of NYSE USB opened at $46.86 on Friday. The company’s 50-day simple moving average is $45.44 and its 200-day simple moving average is $43.88. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $53.98. The firm has a market cap of $72.92 billion, a price-to-earnings ratio of 11.21, a price-to-earnings-growth ratio of 1.46 and a beta of 1.01. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.16.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Thursday, July 17th. The financial services provider reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.04. The firm had revenue of $7.06 billion for the quarter, compared to analyst estimates of $7.07 billion. U.S. Bancorp had a net margin of 16.30% and a return on equity of 13.08%. U.S. Bancorp’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.98 earnings per share. Equities analysts predict that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend was Monday, June 30th. U.S. Bancorp’s dividend payout ratio is presently 47.85%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Barclays dropped their price objective on U.S. Bancorp from $61.00 to $56.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. DA Davidson upped their price target on shares of U.S. Bancorp from $49.00 to $52.00 and gave the stock a “buy” rating in a report on Monday, July 21st. Citigroup upped their price target on shares of U.S. Bancorp from $55.00 to $59.00 and gave the stock a “buy” rating in a report on Wednesday, July 2nd. Evercore ISI increased their target price on U.S. Bancorp from $44.00 to $49.00 and gave the company an “in-line” rating in a research note on Wednesday, June 4th. Finally, Keefe, Bruyette & Woods reduced their target price on U.S. Bancorp from $54.00 to $49.00 and set a “market perform” rating on the stock in a research note on Thursday, April 17th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $52.55.

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.