AEGON ASSET MANAGEMENT UK Plc Sells 205,497 Shares of U.S. Bancorp $USB

AEGON ASSET MANAGEMENT UK Plc trimmed its position in shares of U.S. Bancorp (NYSE:USB - Free Report) by 15.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,129,519 shares of the financial services provider's stock after selling 205,497 shares during the period. AEGON ASSET MANAGEMENT UK Plc owned about 0.07% of U.S. Bancorp worth $65,241,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Mufg Bank LTD. purchased a new stake in U.S. Bancorp during the second quarter valued at about $2,680,199,000. Bank of New York Mellon Corp bought a new position in shares of U.S. Bancorp during the second quarter valued at about $536,457,000. First Trust Advisors LP grew its stake in shares of U.S. Bancorp by 39.9% during the first quarter. First Trust Advisors LP now owns 8,118,845 shares of the financial services provider's stock valued at $422,261,000 after buying an additional 2,314,081 shares during the last quarter. KBC Group NV increased its holdings in shares of U.S. Bancorp by 259.0% in the first quarter. KBC Group NV now owns 1,888,428 shares of the financial services provider's stock worth $98,217,000 after buying an additional 1,362,416 shares during the period. Finally, Amundi increased its holdings in shares of U.S. Bancorp by 25.2% in the first quarter. Amundi now owns 6,470,642 shares of the financial services provider's stock worth $336,538,000 after buying an additional 1,301,547 shares during the period. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Trading Up 2.6%

NYSE USB opened at $61.02 on Tuesday. The stock has a market cap of $95.06 billion, a P/E ratio of 11.90, a price-to-earnings-growth ratio of 1.16 and a beta of 1.02. U.S. Bancorp has a fifty-two week low of $45.02 and a fifty-two week high of $66.07. The stock has a 50 day simple moving average of $59.62 and a two-hundred day simple moving average of $58.21. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.83 and a current ratio of 0.83.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its quarterly earnings results on Thursday, October 15th. The financial services provider reported $1.34 EPS for the quarter, topping analysts' consensus estimates of $1.32 by $0.02. The company had revenue of $8.04 billion during the quarter, compared to analyst estimates of $8 billion. U.S. Bancorp had a return on equity of 13.85% and a net margin of 18.85%. The firm's revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.22 earnings per share. On average, analysts forecast that U.S. Bancorp will post 5.30 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were given a dividend of $0.54 per share. This is an increase from U.S. Bancorp's previous quarterly dividend of $0.52. This represents a $2.16 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Wednesday, September 30th. U.S. Bancorp's dividend payout ratio is presently 42.11%.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, CEO Gunjan Kedia sold 27,267 shares of the firm's stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $62.37, for a total value of $1,700,642.79. Following the completion of the sale, the chief executive officer directly owned 426,262 shares in the company, valued at $26,585,960.94. This trade represents a 6.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.21% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on USB shares. Evercore reissued an "outperform" rating and issued a $67.00 target price (down from $72.00) on shares of U.S. Bancorp in a research note on Wednesday, October 28th. Oppenheimer raised their price target on U.S. Bancorp from $73.00 to $74.00 and gave the stock an "outperform" rating in a research report on Monday, November 2nd. CLSA set a $67.50 price target on U.S. Bancorp in a research report on Monday, July 20th. Wells Fargo & Company lifted their price target on U.S. Bancorp from $66.00 to $69.00 and gave the stock an "overweight" rating in a research note on Friday, July 17th. Finally, Argus boosted their price objective on U.S. Bancorp from $63.00 to $75.00 and gave the company a "buy" rating in a research report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, U.S. Bancorp has an average rating of "Moderate Buy" and a consensus price target of $68.65.

U.S. Bancorp Company Profile

U.S. Bancorp is the parent company of U.S. Bank, a financial services provider serving consumers, businesses, institutions and government entities across the United States. Its history traces to 1863, when one of its predecessor institutions, First National Bank of Cincinnati, was established.

U.S. Bank offers consumer and business banking, lending, payment services, wealth management, investment services and corporate trust services. Its products include checking and savings accounts, credit cards, mortgages, commercial loans and digital banking solutions.

Headquartered in Minneapolis, Minnesota, U.S.

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