S&G Foundation Makes New $33.82 Million Investment in U.S. Bancorp $USB

Key Points

• S&G Foundation acquired 560,000 U.S. Bancorp shares worth approximately $33.82 million in the second quarter, making USB its ninth-largest holding and 1.6% of its portfolio. Institutional investors collectively own 77.6% of the company.
• U.S. Bancorp exceeded quarterly expectations, reporting $1.35 in EPS versus the $1.28 consensus and $7.69 billion in revenue versus $7.58 billion expected. Analysts maintain a “Moderate Buy” consensus with an average price target of $67.06.
• The bank pays a quarterly dividend of $0.52 per share, equivalent to a $2.08 annualized payout and a 3.3% yield. Shares recently traded at $62.09, while an insider sold 36,906 shares at an average price of $63.08.

S&G Foundation acquired a new position in shares of U.S. Bancorp (NYSE:USB - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 560,000 shares of the financial services provider's stock, valued at approximately $33,824,000. U.S. Bancorp comprises about 1.6% of S&G Foundation's investment portfolio, making the stock its 9th biggest position.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. boosted its stake in U.S. Bancorp by 1.3% in the 4th 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 during the last quarter. State Street Corp increased its stake in shares of 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 during the last quarter. Mufg Bank LTD. acquired a new position in shares of U.S. Bancorp during the 2nd quarter valued at about $2,680,199,000. Geode Capital Management LLC lifted its holdings in shares of 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 worth $2,002,518,000 after acquiring an additional 443,646 shares during the period. Finally, Norges Bank purchased a new position in shares of U.S. Bancorp during the 4th quarter worth about $1,887,497,000. Hedge funds and other institutional investors own 77.60% of the company's stock.

Insider Buying and Selling at U.S. Bancorp

In other news, insider Stephen L. Philipson sold 36,906 shares of U.S. Bancorp stock in a transaction dated 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 sale, the insider directly 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.21% of the stock is owned by corporate insiders.

U.S. Bancorp Trading Up 0.5%

USB opened at $62.09 on Friday. The firm's 50 day moving average is $62.40 and its 200-day moving average is $57.63. U.S. Bancorp has a 52-week low of $45.02 and a 52-week 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. The firm has a market capitalization of $96.74 billion, a P/E ratio of 12.39, a P/E/G ratio of 1.02 and a beta of 0.96.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its earnings results on Thursday, July 16th. The financial services provider reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.07. U.S. Bancorp had a net margin of 18.49% and a return on equity of 13.69%. The business had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.58 billion. During the same period in the prior year, the firm earned $1.11 earnings per share. Analysts expect that U.S. Bancorp will post 5.22 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a dividend of $0.52 per share. The ex-dividend date was Tuesday, June 30th. This represents a $2.08 annualized dividend and a dividend yield of 3.3%. U.S. Bancorp's dividend payout ratio (DPR) is currently 41.52%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on USB shares. Robert W. Baird boosted their target price on shares of U.S. Bancorp from $64.00 to $68.00 and gave the company a "neutral" rating in a report on Friday, July 17th. Wall Street Zen upgraded shares of U.S. Bancorp from a "sell" rating to a "hold" rating in a report on Monday, July 6th. Citigroup reissued a "buy" rating on shares of U.S. Bancorp in a research note on Tuesday, July 21st. Wells Fargo & Company upped their price objective on U.S. Bancorp from $66.00 to $69.00 and gave the stock an "overweight" rating in a report on Friday, July 17th. Finally, UBS Group increased their target price on U.S. Bancorp from $58.00 to $66.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $67.06.

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.

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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