Skandinaviska Enskilda Banken AB publ Has $21.72 Million Stock Position in U.S. Bancorp (NYSE:USB)

Key Points

• Skandinaviska Enskilda Banken AB increased its stake in U.S. Bancorp by 2.6%, owning 514,464 shares valued at approximately $21.7 million.
• Multiple hedge funds, including Westend Capital Management and YANKCOM Partnership, have recently altered their positions in U.S. Bancorp, which is primarily owned by institutional investors at 77.60%.
• U.S. Bancorp announced a quarterly dividend of $0.50 per share, resulting in an annualized yield of 4.32%, and reported a quarterly earnings per share of $1.11, surpassing analyst expectations.

Skandinaviska Enskilda Banken AB publ increased its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 2.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 514,464 shares of the financial services provider's stock after buying an additional 12,900 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in U.S. Bancorp were worth $21,721,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Westend Capital Management LLC acquired a new stake in U.S. Bancorp during the first quarter worth approximately $27,000. YANKCOM Partnership grew its position in U.S. Bancorp by 59.4% during the first quarter. YANKCOM Partnership now owns 698 shares of the financial services provider's stock worth $29,000 after buying an additional 260 shares in the last quarter. Alpine Bank Wealth Management acquired a new stake in U.S. Bancorp during the first quarter worth approximately $30,000. REAP Financial Group LLC boosted its holdings in shares of U.S. Bancorp by 86.1% in the 4th quarter. REAP Financial Group LLC now owns 642 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 297 shares in the last quarter. Finally, Cornerstone Planning Group LLC boosted its holdings in shares of U.S. Bancorp by 118.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 776 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 420 shares in the last quarter. Institutional investors and hedge funds own 77.60% of the company's stock.

Insider Buying and Selling at U.S. Bancorp

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

U.S. Bancorp Trading Up 0.8%

Shares of USB stock traded up $0.37 during mid-day trading on Wednesday, hitting $46.46. The company's stock had a trading volume of 2,269,769 shares, compared to its average volume of 10,851,892. The company's fifty day simple moving average is $45.05 and its 200-day simple moving average is $44.16. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $53.98. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market cap of $72.39 billion, a PE ratio of 11.11, a P/E/G ratio of 1.45 and a beta of 0.99.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The financial services provider reported $1.11 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.04. U.S. Bancorp had a return on equity of 13.08% and a net margin of 16.30%. The firm had revenue of $7.06 billion during the quarter, compared to analyst estimates of $7.07 billion. During the same period last year, the company posted $0.98 EPS. The business's quarterly revenue was up 2.0% on a year-over-year basis. As a group, equities research analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.30%. The ex-dividend date was Monday, June 30th. U.S. Bancorp's dividend payout ratio (DPR) is presently 47.85%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Royal Bank Of Canada reduced their target price on U.S. Bancorp from $57.00 to $50.00 and set an "outperform" rating on the stock in a report on Thursday, April 17th. Cowen assumed coverage on U.S. Bancorp in a report on Wednesday, May 14th. They issued a "buy" rating on the stock. Piper Sandler reduced their target price on U.S. Bancorp from $49.00 to $48.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Evercore ISI raised their target price on U.S. Bancorp from $44.00 to $49.00 and gave the company an "in-line" rating in a report on Wednesday, June 4th. Finally, Raymond James Financial raised U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and raised their target price for the company from $51.00 to $57.00 in a report on Monday, July 7th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $52.55.

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.