Cardinal Capital Management Inc. Has $19.73 Million Stock Holdings in U.S. Bancorp $USB

Key Points

• Cardinal Capital Management increased its U.S. Bancorp position by 5.4% in the second quarter, holding 326,565 shares valued at approximately $19.73 million. Institutional investors collectively own 77.6% of the company.
• Analyst sentiment is broadly positive: U.S. Bancorp has a consensus “Moderate Buy” rating and an average price target of $67.06, with several firms recently raising targets to as high as $75.
• U.S. Bancorp beat quarterly earnings expectations with $1.35 in EPS and $7.69 billion in revenue, while maintaining a quarterly dividend of $0.52 per share, equivalent to a 3.2% yield.

Cardinal Capital Management Inc. grew its position in shares of U.S. Bancorp (NYSE:USB - Free Report) by 5.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 326,565 shares of the financial services provider's stock after buying an additional 16,814 shares during the period. Cardinal Capital Management Inc.'s holdings in U.S. Bancorp were worth $19,725,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of USB. Financial Life Planners acquired a new position in shares of U.S. Bancorp in the first quarter valued at about $27,000. Main Street Group LTD acquired a new stake in U.S. Bancorp in the 1st quarter worth about $28,000. Rossby Financial LCC boosted its holdings in U.S. Bancorp by 57.8% in the 4th quarter. Rossby Financial LCC now owns 579 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 212 shares during the period. NFSG Corp bought a new stake in U.S. Bancorp in the 1st quarter valued at about $31,000. Finally, JPL Wealth Management LLC acquired a new position in shares of U.S. Bancorp during the 3rd quarter worth approximately $28,000. Institutional investors and hedge funds own 77.60% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on USB. Weiss Ratings reaffirmed a "buy (b)" rating on shares of U.S. Bancorp in a report on Friday, July 31st. Jefferies Financial Group upgraded U.S. Bancorp from a "hold" rating to a "buy" rating and boosted their price target for the company from $60.00 to $75.00 in a research note on Monday, July 6th. Barclays increased their price target on U.S. Bancorp from $67.00 to $75.00 and gave the stock an "overweight" rating in a research report on Friday, July 17th. Raymond James Financial started coverage on U.S. Bancorp in a research note on Wednesday, July 8th. They set a "strong-buy" rating and a $72.00 price objective on the stock. Finally, Keefe, Bruyette & Woods lifted their price objective on U.S. Bancorp from $63.00 to $66.00 and gave the company a "market perform" rating in a report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $67.06.

Insider Buying and Selling

In other U.S. Bancorp news, insider Stephen L. Philipson sold 36,906 shares of the business's stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $63.08, for a total transaction of $2,328,030.48. Following the completion of the transaction, the insider directly owned 74,969 shares in the company, valued at $4,729,044.52. The trade was a 32.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.21% of the stock is currently owned by corporate insiders.

U.S. Bancorp Price Performance

USB stock opened at $64.28 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.96. U.S. Bancorp has a 12 month low of $44.86 and a 12 month high of $65.02. The firm has a market cap of $100.16 billion, a P/E ratio of 12.83, a P/E/G ratio of 1.05 and a beta of 0.96. The company's 50-day moving average price is $61.14 and its two-hundred day moving average price is $57.19.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its earnings results on Thursday, July 16th. The financial services provider reported $1.35 EPS for the quarter, beating the consensus estimate of $1.28 by $0.07. U.S. Bancorp had a net margin of 18.49% and a return on equity of 13.69%. The company had revenue of $7.69 billion during the quarter, compared to analysts' expectations of $7.58 billion. During the same period in the previous year, the company earned $1.11 EPS. On average, analysts anticipate that U.S. Bancorp will post 5.22 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 3.2%. The ex-dividend date was Tuesday, June 30th. U.S. Bancorp's payout ratio is currently 41.52%.

About U.S. Bancorp

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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