First Nebraska Trust Co Invests $6.42 Million in U.S. Bancorp $USB

Key Points

• First Nebraska Trust Co. acquired 123,526 shares of U.S. Bancorp worth approximately $6.42 million in the first quarter. Institutional investors collectively own 77.6% of the bank’s stock.
• U.S. Bancorp exceeded quarterly expectations, reporting $1.35 in earnings per share versus the $1.28 consensus and revenue of $7.71 billion. The company also pays a quarterly dividend of $0.52 per share, equating to a 3.3% yield.
• Wall Street maintains a generally positive outlook, with the stock receiving a “Moderate Buy” consensus rating and an average price target of $67.06, above its reported $63.00 share price.

First Nebraska Trust Co bought a new stake in U.S. Bancorp (NYSE:USB - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund bought 123,526 shares of the financial services provider's stock, valued at approximately $6,425,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of U.S. Bancorp in the fourth quarter worth about $1,887,497,000. Auto Owners Insurance Co grew its position in shares of 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 during the period. Capital Research Global Investors purchased a new position in shares of U.S. Bancorp in the 4th quarter valued at about $296,377,000. Price T Rowe Associates Inc. MD increased its stake 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 valued at $1,329,683,000 after purchasing an additional 4,153,080 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in U.S. Bancorp by 63.2% in the 4th quarter. Victory Capital Management Inc. now owns 9,480,254 shares of the financial services provider's stock worth $505,866,000 after purchasing an additional 3,672,742 shares during the period. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Price Performance

Shares of NYSE USB opened at $63.00 on Friday. The stock has a market capitalization of $97.72 billion, a price-to-earnings ratio of 12.58, a price-to-earnings-growth ratio of 1.03 and a beta of 0.96. 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 52 week low of $43.46 and a 52 week high of $64.84. The firm has a 50-day simple moving average of $59.82 and a 200-day simple moving average of $56.70.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its earnings results on Thursday, July 16th. The financial services provider reported $1.35 earnings per share for the quarter, topping analysts' consensus estimates of $1.28 by $0.07. The business had revenue of $7.71 billion for the quarter, compared to analyst estimates of $7.58 billion. U.S. Bancorp had a net margin of 18.49% and a return on equity of 13.69%. During the same period last year, the company posted $1.11 EPS. On average, equities analysts predict that U.S. Bancorp will post 5.22 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.08 dividend on an annualized basis and a yield of 3.3%. U.S. Bancorp's payout ratio is 41.52%.

Insiders Place Their Bets

In other news, insider Stephen L. Philipson sold 36,906 shares of U.S. Bancorp stock in a transaction on Monday, July 20th. The stock was sold at an average price of $63.08, for a total transaction of $2,328,030.48. Following the transaction, the insider owned 74,969 shares in the company, valued at $4,729,044.52. The trade was a 32.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Venkatachari Dilip sold 34,522 shares of the business's stock in a transaction dated 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 transaction, 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 position. The SEC filing for this sale provides additional information. Insiders own 0.21% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on the company. DA Davidson raised their price objective on U.S. Bancorp from $72.00 to $74.00 and gave the company a "buy" rating in a report on Friday, July 17th. Wells Fargo & Company upped their target price on U.S. Bancorp from $66.00 to $69.00 and gave the stock an "overweight" rating in a research note on Friday, July 17th. Citigroup reiterated a "buy" rating on shares of U.S. Bancorp in a research report on Tuesday, July 21st. Wall Street Zen raised shares of U.S. Bancorp from a "sell" rating to a "hold" rating in a research note on Monday, July 6th. Finally, JPMorgan Chase & Co. upped their price objective on shares of U.S. Bancorp from $67.50 to $69.00 and gave the stock a "neutral" rating in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $67.06.

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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