57,497 Shares in U.S. Bancorp (NYSE:USB) Purchased by Alberta Investment Management Corp

Key Points

• Alberta Investment Management Corp has acquired a new stake in U.S. Bancorp, purchasing 57,497 shares valued at approximately $2.43 million in the first quarter.
• A significant portion of U.S. Bancorp's stock, 77.60%, is owned by institutional investors, indicating strong support from large financial entities.
• U.S. Bancorp's quarterly earnings exceeded expectations, reporting $1.11 EPS, surpassing the consensus estimate of $1.07, and also announced a dividend yield of 4.6%.

Alberta Investment Management Corp acquired a new stake in U.S. Bancorp (NYSE:USB - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 57,497 shares of the financial services provider's stock, valued at approximately $2,428,000.

A number of other institutional investors have also modified their holdings of USB. Westend Capital Management LLC acquired a new position in U.S. Bancorp during the 1st quarter worth $27,000. REAP Financial Group LLC grew its stake in U.S. Bancorp by 86.1% during the 4th quarter. REAP Financial Group LLC now owns 642 shares of the financial services provider's stock worth $31,000 after purchasing an additional 297 shares in the last quarter. YANKCOM Partnership grew its stake in U.S. Bancorp by 59.4% during the 1st quarter. YANKCOM Partnership now owns 698 shares of the financial services provider's stock worth $29,000 after purchasing an additional 260 shares in the last quarter. Alpine Bank Wealth Management acquired a new position in U.S. Bancorp during the 1st quarter worth $30,000. Finally, Rakuten Securities Inc. boosted its position in shares of U.S. Bancorp by 1,212.1% during the 1st quarter. Rakuten Securities Inc. now owns 761 shares of the financial services provider's stock worth $32,000 after acquiring an additional 703 shares in the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Citigroup upped their price objective on U.S. Bancorp from $55.00 to $59.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Royal Bank Of Canada lowered their price objective on U.S. Bancorp from $57.00 to $50.00 and set an "outperform" rating for the company in a research report on Thursday, April 17th. Evercore ISI upped their price objective on U.S. Bancorp from $44.00 to $49.00 and gave the stock an "in-line" rating in a research report on Wednesday, June 4th. The Goldman Sachs Group upped their price objective on U.S. Bancorp from $41.00 to $46.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 10th. Finally, Cowen began coverage on U.S. Bancorp in a research report on Wednesday, May 14th. They set a "buy" rating for the company. One research analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $52.55.

Insider Buying and Selling

In other U.S. Bancorp news, EVP Souheil Badran sold 23,727 shares of the stock in a transaction on 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 in the company, valued at approximately $3,259,833.64. This represents a 25.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.23% of the company's stock.

U.S. Bancorp Price Performance

Shares of USB traded down $0.10 on Thursday, reaching $44.34. The stock had a trading volume of 361,126 shares, compared to its average volume of 10,762,235. The firm has a market capitalization of $69.08 billion, a PE ratio of 10.60, a PEG ratio of 1.40 and a beta of 1.01. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.16. The firm has a 50-day moving average of $45.24 and a 200 day moving average of $44.02. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $53.98.

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

U.S. Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date was Monday, June 30th. U.S. Bancorp's dividend payout ratio is 47.85%.

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.