Danske Bank A S Has $47.59 Million Holdings in U.S. Bancorp $USB

Key Points

• Danske Bank A/S increased its stake in U.S. Bancorp by 16.0% to 891,902 shares, valued at about $47.59 million, representing roughly 0.06% of the company.
• U.S. Bancorp topped expectations for the quarter with $1.18 EPS vs. $1.14 est. and reported $7.32 billion in revenue, and it declared a quarterly dividend of $0.52 (annualized $2.08, ~3.7% yield).
• Analysts have been raising targets recently and the consensus rating is a "Moderate Buy" with an average price target of about $61.20.

Danske Bank A S raised its position in shares of U.S. Bancorp (NYSE:USB - Free Report) by 16.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 891,902 shares of the financial services provider's stock after buying an additional 122,988 shares during the quarter. Danske Bank A S owned 0.06% of U.S. Bancorp worth $47,592,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Citigroup Inc. grew its stake in shares of U.S. Bancorp by 2.4% in the 3rd quarter. Citigroup Inc. now owns 1,749,812 shares of the financial services provider's stock worth $84,568,000 after buying an additional 41,803 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in U.S. Bancorp by 15.3% in the third quarter. Jones Financial Companies Lllp now owns 358,972 shares of the financial services provider's stock worth $17,738,000 after acquiring an additional 47,537 shares in the last quarter. Synergy Asset Management LLC boosted its holdings in U.S. Bancorp by 100.0% in the third quarter. Synergy Asset Management LLC now owns 119,962 shares of the financial services provider's stock worth $5,428,000 after acquiring an additional 59,981 shares in the last quarter. SteelPeak Wealth LLC grew its stake in shares of U.S. Bancorp by 757.8% in the third quarter. SteelPeak Wealth LLC now owns 176,500 shares of the financial services provider's stock worth $8,622,000 after acquiring an additional 155,925 shares during the last quarter. Finally, Roman Butler Fullerton & Co. bought a new position in shares of U.S. Bancorp during the third quarter valued at $893,000. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at U.S. Bancorp

In related news, insider Jodi L. Richard sold 40,000 shares of the company's stock in a transaction 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 sale, the insider owned 207,251 shares in the company, valued at approximately $11,813,307. This represents a 16.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark G. Runkel sold 32,195 shares of the stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $60.65, for a total value of $1,952,626.75. Following the completion of the transaction, the insider directly owned 97,728 shares in the company, valued at approximately $5,927,203.20. This represents a 24.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on USB. DA Davidson reaffirmed a "buy" rating and issued a $65.00 price target on shares of U.S. Bancorp in a research report on Friday, April 17th. Evercore raised their price objective on shares of U.S. Bancorp from $60.00 to $65.00 and gave the company an "in-line" rating in a research note on Thursday, February 5th. Barclays lifted their target price on shares of U.S. Bancorp from $65.00 to $67.00 and gave the stock an "overweight" rating in a report on Friday, April 17th. Oppenheimer increased their price target on shares of U.S. Bancorp from $73.00 to $74.00 and gave the company an "outperform" rating in a report on Wednesday. Finally, TD Cowen raised their price target on shares of U.S. Bancorp from $65.00 to $66.00 and gave the company a "buy" rating in a research report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $61.20.

U.S. Bancorp Stock Performance

Shares of NYSE USB opened at $56.36 on Friday. The firm's 50-day moving average price is $54.10 and its 200-day moving average price is $52.87. U.S. Bancorp has a 52-week low of $40.75 and a 52-week high of $61.19. The company has a market cap of $87.48 billion, a PE ratio of 11.81, a PEG ratio of 1.02 and a beta of 1.00. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.03.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its quarterly earnings data on Thursday, April 16th. The financial services provider reported $1.18 earnings per share for the quarter, beating analysts' consensus estimates of $1.14 by $0.04. U.S. Bancorp had a net margin of 18.01% and a return on equity of 18.26%. The company had revenue of $7.32 billion for the quarter, compared to the consensus estimate of $7.27 billion. During the same quarter in the prior year, the firm earned $1.03 earnings per share. The firm's revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, analysts anticipate that U.S. Bancorp will post 5.09 EPS for the current year.

U.S. Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Tuesday, March 31st. U.S. Bancorp's dividend 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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