U.S. Bancorp $USB Stock Holdings Boosted by Fifth Third Bancorp

Fifth Third Bancorp grew its position in shares of U.S. Bancorp (NYSE:USBFree Report) by 51.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 1,143,395 shares of the financial services provider’s stock after purchasing an additional 388,029 shares during the quarter. Fifth Third Bancorp’s holdings in U.S. Bancorp were worth $59,468,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of U.S. Bancorp in the fourth quarter valued at $1,887,497,000. Auto Owners Insurance Co grew its holdings in U.S. Bancorp by 5,236.0% during the fourth quarter. Auto Owners Insurance Co now owns 33,350,000 shares of the financial services provider’s stock worth $1,779,556,000 after acquiring an additional 32,725,000 shares during the period. Capital Research Global Investors bought a new stake in U.S. Bancorp in the fourth quarter worth about $296,377,000. SG Americas Securities LLC raised its position in U.S. Bancorp by 3,451.9% in the fourth quarter. SG Americas Securities LLC now owns 4,332,659 shares of the financial services provider’s stock worth $231,191,000 after acquiring an additional 4,210,676 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in U.S. Bancorp by 20.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 24,919,079 shares of the financial services provider’s stock valued at $1,329,683,000 after acquiring an additional 4,153,080 shares during the last quarter. Institutional investors own 77.60% of the company’s stock.

Key Stories Impacting U.S. Bancorp

Here are the key news stories impacting U.S. Bancorp this week:

U.S. Bancorp Trading Up 0.1%

Shares of NYSE USB opened at $62.49 on Monday. U.S. Bancorp has a 12 month low of $43.46 and a 12 month high of $63.39. The company has a market cap of $96.93 billion, a price-to-earnings ratio of 13.10, a P/E/G ratio of 1.07 and a beta of 0.96. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.03. The business has a fifty day simple moving average of $57.18 and a 200-day simple moving average of $55.80.

U.S. Bancorp (NYSE:USBGet Free Report) last released its quarterly earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.04. The business had revenue of $7.32 billion during the quarter, compared to analyst estimates of $7.27 billion. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.U.S. Bancorp’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the company posted $1.03 EPS. Sell-side analysts predict that U.S. Bancorp will post 5.11 EPS for the current year.

U.S. Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.08 dividend on an annualized basis and a yield of 3.3%. U.S. Bancorp’s dividend payout ratio is currently 43.61%.

Insider Activity

In other news, EVP Venkatachari Dilip sold 34,522 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the sale, the executive vice president owned 51,292 shares in the company, valued at $2,847,731.84. The trade was a 40.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jodi L. Richard sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the completion of the sale, the insider owned 207,251 shares of the company’s stock, valued at approximately $11,813,307. This trade represents a 16.18% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Raymond James Financial began coverage on shares of U.S. Bancorp in a research report on Wednesday, July 8th. They set a “strong-buy” rating and a $72.00 price objective for the company. DA Davidson reiterated a “buy” rating and issued a $65.00 target price on shares of U.S. Bancorp in a report on Friday, April 17th. UBS Group increased their target price on shares of U.S. Bancorp from $58.00 to $66.00 and gave the company a “neutral” rating in a research note on Tuesday, July 7th. Morgan Stanley increased their target price on shares of U.S. Bancorp from $64.00 to $67.00 and gave the company an “equal weight” rating in a research note on Monday, June 29th. Finally, Wall Street Zen upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $64.31.

View Our Latest Report on USB

U.S. Bancorp Profile

(Free Report)

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.

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

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