36,976 Shares in U.S. Bancorp $USB Purchased by Ancora Advisors LLC

Key Points

• Ancora Advisors LLC purchased 36,976 shares of U.S. Bancorp during the second quarter, valued at approximately $2.23 million. Institutional investors collectively own 77.6% of the company.
• U.S. Bancorp reported quarterly earnings of $1.35 per share, exceeding analysts’ $1.28 estimate, while revenue of $7.69 billion also topped expectations.
• The bank pays a quarterly dividend of $0.52, equivalent to an annualized $2.08 dividend and a 3.3% yield. Analysts give the stock a “Moderate Buy” consensus rating with an average price target of $67.06.

Ancora Advisors LLC purchased a new stake in shares of U.S. Bancorp (NYSE:USB - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 36,976 shares of the financial services provider's stock, valued at approximately $2,233,000.

Several other institutional investors have also modified their holdings of the stock. Financial Life Planners purchased a new position in U.S. Bancorp during the 1st quarter valued at $27,000. Main Street Group LTD purchased a new position in U.S. Bancorp during the first quarter valued at approximately $28,000. JPL Wealth Management LLC bought a new position in U.S. Bancorp in the third quarter worth approximately $28,000. Binnacle Investments Inc raised its stake in U.S. Bancorp by 77.8% in the third quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider's stock worth $30,000 after buying an additional 273 shares in the last quarter. Finally, NFSG Corp purchased a new stake in U.S. Bancorp during the first quarter worth $31,000. 77.60% of the stock is owned by institutional investors.

U.S. Bancorp Price Performance

U.S. Bancorp stock opened at $62.80 on Thursday. U.S. Bancorp has a 52-week low of $45.02 and a 52-week high of $66.07. The firm has a market capitalization of $97.85 billion, a price-to-earnings ratio of 12.53, a PEG ratio of 1.02 and a beta of 0.96. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.96. The company has a fifty day simple moving average of $62.66 and a 200-day simple moving average of $57.70.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its quarterly earnings data on Thursday, July 16th. The financial services provider reported $1.35 EPS for the quarter, topping analysts' consensus estimates of $1.28 by $0.07. The firm had revenue of $7.69 billion for the quarter, compared to the consensus estimate of $7.58 billion. U.S. Bancorp had a return on equity of 13.69% and a net margin of 18.49%.During the same quarter last year, the business posted $1.11 earnings per share. On average, equities analysts anticipate that U.S. Bancorp will post 5.22 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Tuesday, June 30th. U.S. Bancorp's payout ratio is 41.52%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Evercore upgraded shares of U.S. Bancorp from an "in-line" rating to an "outperform" rating and set a $72.00 price objective for the company in a research note on Monday, July 20th. Keefe, Bruyette & Woods lifted their target price on U.S. Bancorp from $63.00 to $66.00 and gave the stock a "market perform" rating in a report on Friday, July 17th. JPMorgan Chase & Co. upped their price target on shares of U.S. Bancorp from $67.50 to $69.00 and gave the company a "neutral" rating in a report on Wednesday, July 29th. BTIG Research set a $67.50 price objective on U.S. Bancorp in a research report on Monday, July 20th. Finally, Raymond James Financial began coverage on U.S. Bancorp in a research report on Wednesday, July 8th. They set a "strong-buy" rating and a $72.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $67.06.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, insider Stephen L. Philipson sold 36,906 shares of U.S. Bancorp stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $63.08, for a total value of $2,328,030.48. Following the completion of the transaction, the insider directly owned 74,969 shares of the company's stock, valued at $4,729,044.52. The trade was a 32.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.21% of the stock is currently owned by insiders.

About U.S. Bancorp

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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