Fideuram Intesa Sanpaolo Private Banking S.P.A. Acquires New Shares in U.S. Bancorp $USB

Key Points

• Fideuram Intesa Sanpaolo Private Banking S.P.A. disclosed a new position in U.S. Bancorp, buying 58,104 shares worth about $3.1 million in the fourth quarter.
• U.S. Bancorp’s latest quarterly results topped expectations, with EPS of $1.18 versus the $1.14 consensus and revenue of $7.32 billion, up 4.7% year over year.
• Analysts remain cautiously positive on the stock, with an average rating of “Moderate Buy” and an average price target of $61.20; the shares recently traded at $54.49 and also offer a 3.8% dividend yield.

Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in U.S. Bancorp (NYSE:USB - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The fund acquired 58,104 shares of the financial services provider's stock, valued at approximately $3,100,000.

A number of other hedge funds have also bought and sold shares of USB. Brighton Jones LLC lifted its holdings in shares of U.S. Bancorp by 323.0% during the 4th quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider's stock worth $2,309,000 after acquiring an additional 36,863 shares during the last quarter. Empowered Funds LLC lifted its stake in U.S. Bancorp by 2.1% in the first quarter. Empowered Funds LLC now owns 34,411 shares of the financial services provider's stock worth $1,453,000 after purchasing an additional 714 shares during the last quarter. Intech Investment Management LLC lifted its stake in U.S. Bancorp by 18.9% in the first quarter. Intech Investment Management LLC now owns 39,276 shares of the financial services provider's stock worth $1,658,000 after purchasing an additional 6,252 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in shares of U.S. Bancorp in the second quarter worth about $425,000. Finally, Nebula Research & Development LLC purchased a new position in U.S. Bancorp during the 2nd quarter valued at about $701,000. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on USB. Royal Bank Of Canada boosted their price target on U.S. Bancorp from $59.00 to $61.00 and gave the company an "outperform" rating in a report on Friday, April 17th. DA Davidson restated a "buy" rating and set a $65.00 price target on shares of U.S. Bancorp in a report on Friday, April 17th. Keefe, Bruyette & Woods boosted their price target on shares of U.S. Bancorp from $58.00 to $59.00 and gave the company a "market perform" rating in a research report on Wednesday, January 21st. Barclays boosted their price target on shares of U.S. Bancorp from $65.00 to $67.00 and gave the company an "overweight" rating in a research report on Friday, April 17th. Finally, Oppenheimer boosted their price target on shares of U.S. Bancorp from $73.00 to $74.00 and gave the company an "outperform" rating in a research report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $61.20.

U.S. Bancorp Price Performance

Shares of NYSE USB opened at $54.49 on Thursday. U.S. Bancorp has a 1 year low of $42.21 and a 1 year high of $61.19. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.81 and a quick ratio of 0.81. The company's 50-day moving average is $53.97 and its 200 day moving average is $53.58. The stock has a market capitalization of $84.58 billion, a P/E ratio of 11.42, a P/E/G ratio of 0.96 and a beta of 1.00.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its quarterly earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.04. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. The company had revenue of $7.32 billion for the quarter, compared to analysts' expectations of $7.27 billion. During the same quarter in the previous year, the company earned $1.03 earnings per share. U.S. Bancorp's quarterly revenue was up 4.7% on a year-over-year basis. On average, sell-side analysts expect that U.S. Bancorp will post 5.09 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date was Tuesday, March 31st. U.S. Bancorp's dividend payout ratio is 43.61%.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, EVP Venkatachari Dilip sold 34,522 shares of the company's stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total value of $1,916,661.44. Following the sale, the executive vice president owned 51,292 shares in the company, valued at approximately $2,847,731.84. This represents a 40.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jodi L. Richard sold 40,000 shares of the company's stock in a transaction dated 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 trade represents a 16.18% decrease in their position. The SEC filing for this sale provides additional information. 0.21% of the stock is currently owned by corporate insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.