Ally Financial Inc. Acquires Shares of 28,000 U.S. Bancorp $USB

Key Points

• Ally Financial acquired 28,000 shares of U.S. Bancorp during the second quarter, valued at approximately $1.69 million. Institutional investors collectively own 77.6% of the bank’s stock.
• U.S. Bancorp exceeded quarterly earnings expectations, reporting $1.35 in EPS and $7.69 billion in revenue. The company also maintains a quarterly dividend of $0.52, representing a 3.3% annualized yield.
• Analysts hold a consensus “Moderate Buy” rating, with an average price target of $67.06 versus the reported share price of $62.09.

Ally Financial Inc. bought a new position in shares of U.S. Bancorp (NYSE:USB - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 28,000 shares of the financial services provider's stock, valued at approximately $1,691,000.

Several other institutional investors have also recently made changes to their positions in the company. S&G Foundation bought a new stake in shares of U.S. Bancorp during the 2nd quarter valued at $33,824,000. Davis Asset Management L.P. bought a new position in shares of U.S. Bancorp in the 2nd quarter worth about $43,199,000. Compass Financial Management LLC bought a new position in shares of U.S. Bancorp in the 2nd quarter worth about $101,000. Madison Asset Management LLC purchased a new position in U.S. Bancorp during the 2nd quarter valued at about $2,562,000. Finally, Great Lakes Advisors LLC bought a new stake in U.S. Bancorp during the second quarter worth about $4,788,000. Institutional investors own 77.60% of the company's stock.

U.S. Bancorp Trading Up 0.1%

Shares of NYSE USB opened at $62.09 on Monday. The firm's 50 day moving average price is $62.40 and its 200-day moving average price is $57.63. U.S. Bancorp has a 52-week low of $45.02 and a 52-week high of $66.07. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.82 and a current ratio of 0.83. The company has a market cap of $96.74 billion, a PE ratio of 12.39, a P/E/G ratio of 1.02 and a beta of 0.96.

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 earnings per share for the quarter, topping analysts' consensus estimates of $1.28 by $0.07. The company had revenue of $7.69 billion during the quarter, compared to analyst estimates of $7.58 billion. U.S. Bancorp had a net margin of 18.49% and a return on equity of 13.69%. During the same period in the previous year, the business earned $1.11 EPS. On average, equities research analysts expect that U.S. Bancorp will post 5.22 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm 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. The ex-dividend date was Tuesday, June 30th. This represents a $2.08 annualized dividend and a dividend yield of 3.3%. U.S. Bancorp's payout ratio is currently 41.52%.

Analysts Set New Price Targets

A number of brokerages have weighed in on USB. Robert W. Baird upped their price objective on shares of U.S. Bancorp from $64.00 to $68.00 and gave the stock a "neutral" rating in a report on Friday, July 17th. Wall Street Zen upgraded shares of U.S. Bancorp from a "sell" rating to a "hold" rating in a report on Monday, July 6th. BTIG Research set a $67.50 price target on U.S. Bancorp in a research report on Monday, July 20th. Keefe, Bruyette & Woods upped their price target on U.S. Bancorp from $63.00 to $66.00 and gave the stock a "market perform" rating in a research note on Friday, July 17th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of U.S. Bancorp in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $67.06.

Insider Buying and Selling at U.S. Bancorp

In other news, insider Stephen L. Philipson sold 36,906 shares of the company's stock in a transaction on Monday, July 20th. The stock was sold at an average price of $63.08, for a total transaction of $2,328,030.48. Following the transaction, the insider directly owned 74,969 shares of the company's stock, valued at $4,729,044.52. This represents a 32.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.21% of the stock is owned by corporate insiders.

U.S. Bancorp Company Profile

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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