Boston Trust Walden Corp Boosts Stock Position in U.S. Bancorp $USB

Key Points

• Boston Trust Walden Corp increased its U.S. Bancorp stake by 69.9% in the first quarter, adding 67,160 shares to bring its total to 163,206 shares worth about $8.49 million.
• U.S. Bancorp reported better-than-expected Q1 earnings, posting $1.18 EPS versus $1.14 estimated and revenue of $7.32 billion, up 4.7% year over year.
• The company declared a quarterly dividend of $0.52 per share, equal to an annualized yield of 3.4%, while analysts currently rate the stock a consensus “Moderate Buy” with an average price target of $61.57.

Boston Trust Walden Corp boosted its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 69.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 163,206 shares of the financial services provider's stock after purchasing an additional 67,160 shares during the period. Boston Trust Walden Corp's holdings in U.S. Bancorp were worth $8,488,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of USB. Norges Bank bought a new stake in shares of U.S. Bancorp during the 4th quarter valued at about $1,887,497,000. Auto Owners Insurance Co boosted its position in U.S. Bancorp by 5,236.0% during the 4th quarter. Auto Owners Insurance Co now owns 33,350,000 shares of the financial services provider's stock valued at $1,779,556,000 after acquiring an additional 32,725,000 shares in the last quarter. Capital Research Global Investors purchased a new position in shares of U.S. Bancorp during the 4th quarter worth approximately $296,377,000. SG Americas Securities LLC grew its holdings in shares of U.S. Bancorp by 3,451.9% during the 4th quarter. SG Americas Securities LLC now owns 4,332,659 shares of the financial services provider's stock worth $231,191,000 after acquiring an additional 4,210,676 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in shares of U.S. Bancorp by 20.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 24,919,079 shares of the financial services provider's stock worth $1,329,683,000 after acquiring an additional 4,153,080 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company's stock.

Insider Transactions at U.S. Bancorp

In related news, EVP Venkatachari Dilip sold 34,522 shares of the business's stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the completion of the sale, the executive vice president directly owned 51,292 shares in the company, valued at approximately $2,847,731.84. The trade was a 40.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jodi L. Richard sold 40,000 shares of the stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the completion of the transaction, the insider owned 207,251 shares in the company, valued at $11,813,307. The trade was a 16.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on USB. Weiss Ratings upgraded U.S. Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, May 4th. Jefferies Financial Group restated a "hold" rating and set a $60.00 target price on shares of U.S. Bancorp in a report on Thursday, April 16th. DA Davidson reaffirmed a "buy" rating and issued a $65.00 target price on shares of U.S. Bancorp in a research report on Friday, April 17th. Royal Bank Of Canada lifted their price target on shares of U.S. Bancorp from $59.00 to $61.00 and gave the company an "outperform" rating in a research report on Friday, April 17th. Finally, Wall Street Zen lowered shares of U.S. Bancorp from a "hold" rating to a "sell" rating in a research note on Sunday, June 28th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $61.57.

U.S. Bancorp Stock Down 0.1%

USB stock opened at $61.67 on Friday. The stock has a market capitalization of $95.67 billion, a P/E ratio of 12.93, a P/E/G ratio of 1.07 and a beta of 0.96. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.81 and a quick ratio of 0.81. U.S. Bancorp has a 1-year low of $43.46 and a 1-year high of $62.38. The business has a fifty day moving average price of $56.57 and a 200-day moving average price of $55.50.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share for the quarter, topping analysts' consensus estimates of $1.14 by $0.04. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.The business had revenue of $7.32 billion during the quarter, compared to analyst estimates of $7.27 billion. During the same quarter in the previous year, the firm earned $1.03 EPS. U.S. Bancorp's revenue was up 4.7% on a year-over-year basis. Equities analysts forecast that U.S. Bancorp will post 5.09 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.08 annualized dividend and a dividend yield of 3.4%. U.S. Bancorp's payout ratio is presently 43.61%.

U.S. Bancorp 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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