Candriam S.C.A. Acquires 232,616 Shares of U.S. Bancorp $USB

Candriam S.C.A. raised its holdings in U.S. Bancorp (NYSE:USB) by 65.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 587,001 shares of the financial services provider’s stock after purchasing an additional 232,616 shares during the period. Candriam S.C.A.’s holdings in U.S. Bancorp were worth $26,563,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of USB. Atlanta Consulting Group Advisors LLC purchased a new position in U.S. Bancorp in the 2nd quarter valued at approximately $202,000. Police & Firemen s Retirement System of New Jersey grew its position in shares of U.S. Bancorp by 4.4% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 237,800 shares of the financial services provider’s stock valued at $10,760,000 after purchasing an additional 10,122 shares in the last quarter. Geode Capital Management LLC grew its position in shares of U.S. Bancorp by 1.3% in the second quarter. Geode Capital Management LLC now owns 36,632,410 shares of the financial services provider’s stock valued at $1,650,305,000 after purchasing an additional 456,890 shares in the last quarter. ABC Arbitrage SA bought a new stake in shares of U.S. Bancorp during the 2nd quarter valued at $4,282,000. Finally, Wealth Alliance LLC lifted its holdings in U.S. Bancorp by 3.6% during the 2nd quarter. Wealth Alliance LLC now owns 30,915 shares of the financial services provider’s stock worth $1,399,000 after purchasing an additional 1,075 shares in the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. DA Davidson lifted their target price on U.S. Bancorp from $57.00 to $59.00 and gave the company a “buy” rating in a report on Friday, October 17th. Morgan Stanley restated a “positive” rating on shares of U.S. Bancorp in a research report on Friday, October 17th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of U.S. Bancorp in a report on Wednesday, October 8th. Bank of America increased their target price on shares of U.S. Bancorp from $54.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, October 17th. Finally, Cowen restated a “buy” rating on shares of U.S. Bancorp in a research report on Monday, October 20th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $54.55.

Insider Activity

In related news, EVP James L. Chosy sold 26,909 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president directly owned 226,375 shares of the company’s stock, valued at approximately $10,607,932.50. This trade represents a 10.62% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Andrew Cecere sold 140,445 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chairman owned 1,360,414 shares of the company’s stock, valued at $63,041,584.76. The trade was a 9.36% decrease in their position. The SEC filing for this sale provides additional information. 0.23% of the stock is currently owned by corporate insiders.

U.S. Bancorp Price Performance

USB stock opened at $47.29 on Friday. The firm has a 50 day simple moving average of $47.86 and a two-hundred day simple moving average of $46.01. The stock has a market cap of $73.51 billion, a PE ratio of 10.82, a P/E/G ratio of 1.25 and a beta of 1.10. U.S. Bancorp has a one year low of $35.18 and a one year high of $53.98. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.82 and a quick ratio of 0.82.

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

U.S. Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date was Tuesday, September 30th. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.50. U.S. Bancorp’s dividend payout ratio (DPR) is currently 47.60%.

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.