Handelsbanken Fonder AB grew its holdings in U.S. Bancorp (NYSE:USB - Free Report) by 8.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 448,218 shares of the financial services provider's stock after purchasing an additional 36,188 shares during the quarter. Handelsbanken Fonder AB's holdings in U.S. Bancorp were worth $27,072,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of USB. Vanguard Group Inc. raised its stake in U.S. Bancorp by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 146,376,783 shares of the financial services provider's stock worth $7,810,665,000 after buying an additional 1,828,404 shares in the last quarter. State Street Corp boosted its position in U.S. Bancorp by 0.8% during the 4th quarter. State Street Corp now owns 69,701,898 shares of the financial services provider's stock valued at $3,755,083,000 after acquiring an additional 522,368 shares in the last quarter. Geode Capital Management LLC boosted its position in U.S. Bancorp by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 37,679,617 shares of the financial services provider's stock valued at $2,002,518,000 after acquiring an additional 443,646 shares in the last quarter. Norges Bank purchased a new position in shares of U.S. Bancorp in the 4th quarter valued at $1,887,497,000. Finally, Auto Owners Insurance Co increased its holdings in shares of U.S. Bancorp by 5,236.0% in 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. Hedge funds and other institutional investors own 77.60% of the company's stock.
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 sale, the insider owned 74,969 shares of the company's stock, valued at approximately $4,729,044.52. The trade was a 32.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.21% of the stock is owned by company insiders.
U.S. Bancorp Trading Up 1.1%
Shares of NYSE:USB opened at $64.99 on Thursday. The business's 50-day moving average is $61.38 and its 200 day moving average is $57.25. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.83 and a quick ratio of 0.82. U.S. Bancorp has a 1 year low of $45.02 and a 1 year high of $65.10. The firm has a market capitalization of $101.26 billion, a P/E ratio of 12.97, a P/E/G ratio of 1.05 and a beta of 0.96.
U.S. Bancorp (NYSE:USB - Get Free Report) last issued its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.07. U.S. Bancorp had a return on equity of 13.69% and a net margin of 18.49%.The business had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.58 billion. During the same quarter last year, the company earned $1.11 earnings per share. On average, research analysts predict that U.S. Bancorp will post 5.22 earnings per share for the current fiscal year.
U.S. Bancorp Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a $0.52 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $2.08 dividend on an annualized basis and a yield of 3.2%. U.S. Bancorp's dividend payout ratio (DPR) is 41.52%.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on USB. BTIG Research set a $67.50 price objective on U.S. Bancorp in a research note on Monday, July 20th. JPMorgan Chase & Co. lifted their target price on U.S. Bancorp from $67.50 to $69.00 and gave the company a "neutral" rating in a research note on Wednesday, July 29th. Oppenheimer increased their price target on shares of U.S. Bancorp from $73.00 to $77.00 and gave the company an "outperform" rating in a research report on Friday, July 17th. Raymond James Financial started coverage on shares of U.S. Bancorp in a report on Wednesday, July 8th. They issued a "strong-buy" rating and a $72.00 price target on the stock. Finally, CLSA set a $67.50 price objective on shares of U.S. Bancorp in a research report on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $67.06.
Get Our Latest Stock Analysis on U.S. Bancorp
U.S. Bancorp Profile
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding USB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for U.S. Bancorp (NYSE:USB - Free Report).
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