AIA Group Ltd Increases Stock Holdings in U.S. Bancorp (NYSE:USB)

Key Points

• AIA Group Ltd increased its stake in U.S. Bancorp by 153.6%, owning 24,936 shares valued at approximately $1,053,000 after purchasing an additional 15,103 shares.
• U.S. Bancorp reported earnings of $1.11 per share, surpassing analysts' expectations by $0.04, with a quarterly revenue of $7.06 billion.
• The company announced a quarterly dividend of $0.50 per share, translating to an annualized dividend of $2.00 and a yield of 4.5%.

AIA Group Ltd raised its position in U.S. Bancorp (NYSE:USB - Free Report) by 153.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,936 shares of the financial services provider's stock after purchasing an additional 15,103 shares during the quarter. AIA Group Ltd's holdings in U.S. Bancorp were worth $1,053,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. FIL Ltd boosted its position in U.S. Bancorp by 42.0% during the fourth quarter. FIL Ltd now owns 28,872 shares of the financial services provider's stock valued at $1,381,000 after acquiring an additional 8,542 shares during the last quarter. Wesbanco Bank Inc. increased its holdings in U.S. Bancorp by 31.6% in the first quarter. Wesbanco Bank Inc. now owns 325,056 shares of the financial services provider's stock worth $13,724,000 after purchasing an additional 78,146 shares in the last quarter. Crestwood Advisors Group LLC lifted its position in shares of U.S. Bancorp by 10.6% during the 1st quarter. Crestwood Advisors Group LLC now owns 6,784 shares of the financial services provider's stock valued at $286,000 after acquiring an additional 649 shares during the period. Becker Capital Management Inc. increased its holdings in shares of U.S. Bancorp by 1.5% during the fourth quarter. Becker Capital Management Inc. now owns 560,095 shares of the financial services provider's stock valued at $27,069,000 after acquiring an additional 8,204 shares in the last quarter. Finally, United Community Bank grew its holdings in U.S. Bancorp by 21.8% during the first quarter. United Community Bank now owns 49,066 shares of the financial services provider's stock worth $2,072,000 after buying an additional 8,796 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors.

U.S. Bancorp Trading Down 1.9%

Shares of U.S. Bancorp stock traded down $0.87 during trading hours on Friday, hitting $45.96. The company's stock had a trading volume of 8,358,838 shares, compared to its average volume of 10,659,065. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $53.98. The firm has a fifty day moving average of $45.44 and a 200-day moving average of $43.88. The stock has a market cap of $71.52 billion, a price-to-earnings ratio of 11.00, a P/E/G ratio of 1.46 and a beta of 1.01. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.81 and a current ratio of 0.81.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.07 by $0.04. The company had revenue of $7.06 billion for the quarter, compared to analyst estimates of $7.07 billion. U.S. Bancorp had a return on equity of 13.08% and a net margin of 16.30%. U.S. Bancorp's revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.98 EPS. Research analysts forecast that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend was Monday, June 30th. U.S. Bancorp's dividend payout ratio (DPR) is 47.85%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Royal Bank Of Canada reduced their price objective on U.S. Bancorp from $57.00 to $50.00 and set an "outperform" rating for the company in a research note on Thursday, April 17th. Morgan Stanley raised their price objective on U.S. Bancorp from $51.00 to $52.00 and gave the company an "overweight" rating in a report on Friday, July 18th. DA Davidson boosted their target price on U.S. Bancorp from $49.00 to $52.00 and gave the company a "buy" rating in a research note on Monday, July 21st. Barclays cut their target price on U.S. Bancorp from $61.00 to $56.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Finally, Wells Fargo & Company lowered their target price on shares of U.S. Bancorp from $56.00 to $50.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $52.55.

Insider Buying and Selling at U.S. Bancorp

In other news, EVP Souheil Badran sold 23,727 shares of the firm's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $46.34, for a total transaction of $1,099,509.18. Following the sale, the executive vice president owned 70,346 shares of the company's stock, valued at approximately $3,259,833.64. This trade represents a 25.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.23% of the company's stock.

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.