Nykredit A S Purchases New Position in U.S. Bancorp $USB

Key Points

• Nykredit A S acquired 356,158 shares of U.S. Bancorp during the second quarter, worth approximately $21.5 million. Institutional investors collectively own 77.6% of the company.
• Analysts maintain a generally positive outlook, with U.S. Bancorp holding a “Moderate Buy” consensus rating and an average price target of $67.06. Recent target increases came from Baird, JPMorgan, UBS and CLSA.
• U.S. Bancorp exceeded quarterly earnings and revenue expectations, reporting $1.35 in EPS and $7.69 billion in revenue, while increasing its quarterly dividend from $0.52 to $0.54 per share—a 3.6% annualized yield.

Nykredit A S acquired a new position in U.S. Bancorp (NYSE:USB - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 356,158 shares of the financial services provider's stock, valued at approximately $21,512,000.

A number of other large investors have also recently made changes to their positions in USB. State Street Corp lifted its stake in U.S. Bancorp by 0.8% in the fourth quarter. State Street Corp now owns 69,701,898 shares of the financial services provider's stock worth $3,755,083,000 after acquiring an additional 522,368 shares during the period. Mufg Bank LTD. purchased a new position in U.S. Bancorp during the 2nd quarter valued at $2,680,199,000. Geode Capital Management LLC raised its holdings in U.S. Bancorp by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 37,679,617 shares of the financial services provider's stock worth $2,002,518,000 after purchasing an additional 443,646 shares in the last quarter. Norges Bank bought a new stake in shares of U.S. Bancorp during the 4th quarter valued at about $1,887,497,000. Finally, Auto Owners Insurance Co increased its position in shares of U.S. Bancorp by 5,236.0% during the fourth 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 buying an additional 32,725,000 shares during the period. 77.60% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Stephen L. Philipson sold 36,906 shares of the company's stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $63.08, for a total value of $2,328,030.48. Following the transaction, the insider directly owned 74,969 shares of the company's stock, valued at approximately $4,729,044.52. This represents a 32.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Gunjan Kedia sold 27,267 shares of the stock in a transaction on Friday, August 28th. The shares were sold at an average price of $62.37, for a total value of $1,700,642.79. Following the sale, the chief executive officer owned 426,262 shares in the company, valued at approximately $26,585,960.94. This represents a 6.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on USB shares. CLSA set a $67.50 price target on U.S. Bancorp in a research note on Monday, July 20th. Robert W. Baird upped their target price on shares of U.S. Bancorp from $64.00 to $68.00 and gave the stock a "neutral" rating in a research report on Friday, July 17th. JPMorgan Chase & Co. increased their price target on shares of U.S. Bancorp from $67.50 to $69.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 29th. Wall Street Zen raised shares of U.S. Bancorp from a "sell" rating to a "hold" rating in a research report on Monday, July 6th. Finally, UBS Group boosted their price objective on shares of U.S. Bancorp from $58.00 to $66.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 7th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $67.06.

U.S. Bancorp Stock Down 0.3%

USB stock opened at $60.08 on Friday. The business has a 50 day moving average of $63.08 and a 200 day moving average of $58.21. The firm has a market cap of $93.61 billion, a PE ratio of 11.99, a price-to-earnings-growth ratio of 1.07 and a beta of 0.95. U.S. Bancorp has a twelve month low of $45.02 and a twelve month high of $66.07. 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 (NYSE:USB - Get Free Report) last released its earnings results on Thursday, July 16th. The financial services provider reported $1.35 EPS 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 for the quarter, compared to the consensus estimate of $7.58 billion. During the same period in the previous year, the company posted $1.11 earnings per share. On average, research analysts forecast that U.S. Bancorp will post 5.22 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Wednesday, September 30th. This is an increase from U.S. Bancorp's previous quarterly dividend of $0.52. U.S. Bancorp's dividend payout ratio (DPR) is presently 41.52%.

U.S. Bancorp Profile

U.S. Bancorp NYSE: USB is a financial services holding company and the parent organization of U.S. Bank, a full-service commercial bank. The company provides deposit accounts, consumer and business loans, mortgages, credit and debit cards, payment services, and other banking products to individuals, businesses, institutions and government entities.

Through its wealth, corporate and commercial banking operations, U.S. Bancorp also offers investment management, trust and custody services, treasury management, capital markets support, equipment finance and other specialized financial solutions.

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