Nordea Investment Management AB Buys 1,311,746 Shares of U.S. Bancorp $USB

Key Points

• Nordea Investment Management AB increased its stake in U.S. Bancorp by 192%, purchasing an additional 1,311,746 shares, bringing its total ownership to approximately 1,994,993 shares valued at $90.75 million.
• U.S. Bancorp recently declared a quarterly dividend of $0.52 per share, representing an increase from the previous $0.50 dividend, resulting in an annual yield of 4.6%.
• Analysts have raised price targets for U.S. Bancorp's stock, with Bank of America increasing its target from $54 to $55, indicating a consensus target price of $54.48 among analysts.

Nordea Investment Management AB lifted its stake in U.S. Bancorp (NYSE:USB - Free Report) by 192.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,994,993 shares of the financial services provider's stock after buying an additional 1,311,746 shares during the quarter. Nordea Investment Management AB owned about 0.13% of U.S. Bancorp worth $90,752,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Crestwood Advisors Group LLC raised its stake in shares of U.S. Bancorp by 10.6% in the first quarter. Crestwood Advisors Group LLC now owns 6,784 shares of the financial services provider's stock worth $286,000 after buying an additional 649 shares during the period. Ally Financial Inc. raised its stake in shares of U.S. Bancorp by 12.3% in the first quarter. Ally Financial Inc. now owns 91,000 shares of the financial services provider's stock worth $3,842,000 after buying an additional 10,000 shares during the period. United Community Bank raised its stake in shares of U.S. Bancorp by 21.8% in the first quarter. United Community Bank now owns 49,066 shares of the financial services provider's stock worth $2,072,000 after buying an additional 8,796 shares during the period. Jump Financial LLC raised its stake in shares of U.S. Bancorp by 1,952.5% in the first quarter. Jump Financial LLC now owns 840,308 shares of the financial services provider's stock worth $35,478,000 after buying an additional 799,368 shares during the period. Finally, Asset Management One Co. Ltd. raised its stake in shares of U.S. Bancorp by 9.2% in the first quarter. Asset Management One Co. Ltd. now owns 653,367 shares of the financial services provider's stock worth $27,585,000 after buying an additional 55,054 shares during the period. Institutional investors own 77.60% of the company's stock.

Analysts Set New Price Targets

USB has been the topic of several recent analyst reports. UBS Group lifted their target price on U.S. Bancorp from $49.00 to $50.00 and gave the company a "neutral" rating in a research note on Tuesday, October 7th. Morgan Stanley reissued a "positive" rating on shares of U.S. Bancorp in a research note on Friday. Evercore ISI lifted their target price on U.S. Bancorp from $49.00 to $54.00 and gave the company an "in-line" rating in a research note on Tuesday, September 30th. Bank of America lifted their target price on U.S. Bancorp from $54.00 to $55.00 and gave the company a "buy" rating in a research note on Friday. Finally, Wall Street Zen raised U.S. Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $54.48.

U.S. Bancorp Stock Performance

NYSE USB opened at $45.66 on Friday. The stock has a market capitalization of $71.06 billion, a PE ratio of 10.45, a P/E/G ratio of 1.34 and a beta of 1.06. The business has a 50 day simple moving average of $47.93 and a two-hundred day simple moving average of $44.82. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.82 and a quick ratio of 0.81. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $53.98.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.11. The business had revenue of $7.34 billion during the quarter, compared to analysts' expectations of $7.17 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.The firm's revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.03 EPS. On average, research analysts predict that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were issued a dividend of $0.52 per share. The ex-dividend date was Tuesday, September 30th. This represents a $2.08 annualized dividend and a yield of 4.6%. This is a boost from U.S. Bancorp's previous quarterly dividend of $0.50. U.S. Bancorp's dividend payout ratio (DPR) is 47.60%.

Insiders Place Their Bets

In other U.S. Bancorp news, EVP Souheil Badran sold 23,727 shares of the firm's stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $46.34, for a total transaction of $1,099,509.18. Following the completion of the transaction, the executive vice president owned 70,346 shares in the company, valued at $3,259,833.64. This trade represents a 25.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.23% of the stock is owned by corporate insiders.

U.S. Bancorp Company Profile

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.