ASR Vermogensbeheer N.V. Acquires New Holdings in U.S. Bancorp (NYSE:USB)

Key Points

• ASR Vermogensbeheer N.V. acquired a stake of 154,616 shares in U.S. Bancorp, valued at approximately $6.53 million, during the 1st quarter.
• U.S. Bancorp has shown a 2.0% revenue increase year-over-year, reporting $7.06 billion in revenue for the last quarter, and its earnings per share rose to $1.11, surpassing analyst expectations.
• The company recently declared a quarterly dividend of $0.50 per share, yielding 4.5%, with a dividend payout ratio of 47.85%.

ASR Vermogensbeheer N.V. purchased a new stake in U.S. Bancorp (NYSE:USB - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 154,616 shares of the financial services provider's stock, valued at approximately $6,528,000.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of U.S. Bancorp by 1.7% in the first quarter. Vanguard Group Inc. now owns 141,230,279 shares of the financial services provider's stock valued at $5,962,742,000 after purchasing an additional 2,393,383 shares during the period. Northern Trust Corp boosted its stake in shares of U.S. Bancorp by 10.9% in the 4th quarter. Northern Trust Corp now owns 17,050,568 shares of the financial services provider's stock valued at $815,529,000 after purchasing an additional 1,670,305 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of U.S. Bancorp by 11.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,574,919 shares of the financial services provider's stock valued at $601,458,000 after purchasing an additional 1,339,493 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of U.S. Bancorp by 10.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 11,012,635 shares of the financial services provider's stock valued at $464,953,000 after purchasing an additional 1,045,509 shares in the last quarter. Finally, Federated Hermes Inc. boosted its stake in shares of U.S. Bancorp by 0.3% in the 1st quarter. Federated Hermes Inc. now owns 9,485,614 shares of the financial services provider's stock valued at $400,483,000 after purchasing an additional 27,566 shares in the last quarter. Institutional investors own 77.60% of the company's stock.

U.S. Bancorp Trading Up 1.7%

NYSE:USB traded up $0.77 on Friday, hitting $44.86. 6,066,952 shares of the stock were exchanged, compared to its average volume of 11,320,853. The stock has a market capitalization of $69.89 billion, a price-to-earnings ratio of 10.73, a P/E/G ratio of 1.38 and a beta of 1.01. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $53.98. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.81 and a current ratio of 0.81. The company's 50-day moving average price is $45.27 and its 200 day moving average price is $43.96.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The financial services provider reported $1.11 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.04. The firm had revenue of $7.06 billion during 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 quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.98 EPS. On average, equities research analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Wall Street Zen upgraded shares of U.S. Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Keefe, Bruyette & Woods reduced their target price on shares of U.S. Bancorp from $54.00 to $49.00 and set a "market perform" rating on the stock in a research note on Thursday, April 17th. Royal Bank Of Canada reduced their target price on shares of U.S. Bancorp from $57.00 to $50.00 and set an "outperform" rating on the stock in a research note on Thursday, April 17th. Oppenheimer upped their price target on shares of U.S. Bancorp from $66.00 to $67.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Finally, Raymond James Financial upgraded shares of U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and upped their price target for the stock from $51.00 to $57.00 in a research report on Monday, July 7th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $52.55.

Insider Activity at U.S. Bancorp

In other news, EVP Souheil Badran sold 23,727 shares of the company's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $46.34, for a total value of $1,099,509.18. Following the completion of the sale, the executive vice president directly owned 70,346 shares of the company's stock, valued at $3,259,833.64. This represents a 25.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.23% of the stock is currently owned by company insiders.

U.S. Bancorp Company Profile

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.