AustralianSuper Pty Ltd Buys 37,850 Shares of U.S. Bancorp $USB

AustralianSuper Pty Ltd increased its stake in shares of U.S. Bancorp (NYSE:USB) by 16.7% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 264,370 shares of the financial services provider’s stock after acquiring an additional 37,850 shares during the period. AustralianSuper Pty Ltd’s holdings in U.S. Bancorp were worth $11,963,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Curbstone Financial Management Corp raised its position in U.S. Bancorp by 0.6% in the 2nd quarter. Curbstone Financial Management Corp now owns 39,982 shares of the financial services provider’s stock valued at $1,809,000 after purchasing an additional 222 shares during the last quarter. Mechanics Financial Corp raised its position in U.S. Bancorp by 5.3% in the 2nd quarter. Mechanics Financial Corp now owns 4,806 shares of the financial services provider’s stock valued at $217,000 after purchasing an additional 240 shares during the last quarter. Northern Financial Advisors Inc raised its position in U.S. Bancorp by 5.0% in the 2nd quarter. Northern Financial Advisors Inc now owns 5,033 shares of the financial services provider’s stock valued at $228,000 after purchasing an additional 241 shares during the last quarter. Lawson Kroeker Investment Management Inc. NE raised its position in U.S. Bancorp by 0.5% in the 2nd quarter. Lawson Kroeker Investment Management Inc. NE now owns 46,109 shares of the financial services provider’s stock valued at $2,086,000 after purchasing an additional 249 shares during the last quarter. Finally, Gallagher Capital Advisors LLC raised its position in U.S. Bancorp by 1.5% in the 2nd quarter. Gallagher Capital Advisors LLC now owns 16,795 shares of the financial services provider’s stock valued at $773,000 after purchasing an additional 249 shares during the last quarter. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Down 0.9%

Shares of U.S. Bancorp stock opened at $47.82 on Tuesday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.10. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $53.98. The business has a fifty day simple moving average of $48.13 and a 200 day simple moving average of $45.29. The stock has a market cap of $74.42 billion, a PE ratio of 10.94, a price-to-earnings-growth ratio of 1.29 and a beta of 1.06.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.11. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.The business had revenue of $7.34 billion during the quarter, compared to analysts’ expectations of $7.17 billion. During the same period in the previous year, the firm earned $1.03 earnings per share. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. Research analysts predict that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.3%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Tuesday, September 30th. U.S. Bancorp’s payout ratio is presently 47.60%.

Insiders Place Their Bets

In related news, EVP James L. Chosy sold 26,909 shares of U.S. Bancorp stock in a transaction on Monday, October 20th. The stock was sold at an average price of $46.86, for a total transaction of $1,260,955.74. Following the completion of the sale, the executive vice president directly owned 226,375 shares of the company’s stock, valued at $10,607,932.50. The trade was a 10.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Andrew Cecere sold 140,445 shares of U.S. Bancorp stock in a transaction on Monday, October 20th. The stock was sold at an average price of $46.34, for a total value of $6,508,221.30. Following the sale, the chairman directly owned 1,360,414 shares of the company’s stock, valued at approximately $63,041,584.76. This trade represents a 9.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.23% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Wall Street Zen upgraded U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. Citigroup boosted their target price on U.S. Bancorp from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. The Goldman Sachs Group set a $52.00 target price on U.S. Bancorp and gave the stock a “neutral” rating in a research report on Friday, October 17th. Bank of America boosted their target price on U.S. Bancorp from $54.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Finally, TD Cowen boosted their target price on U.S. Bancorp from $59.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $54.55.

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.