U.S. Bancorp $USB is Davis Selected Advisers' 2nd Largest Position

Key Points

• Davis Selected Advisers increased its U.S. Bancorp stake by 13.4% in Q4 to 22,041,759 shares (adding 2.61M shares), making USB its 2nd largest holding (about 5.3% of the fund) and representing roughly 1.42% of U.S. Bancorp worth ~$1.18 billion.
• Several other institutions also boosted positions — notably SG Americas, AQR and Vanguard — and overall institutional ownership stands at about 77.6% of the stock.
• Analysts have a consensus rating of Moderate Buy with an average target of $61.20; U.S. Bancorp recently beat EPS estimates ($1.18 vs. $1.14) and pays a $0.52 quarterly dividend (annualized yield ~3.7%).

Davis Selected Advisers grew its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 13.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,041,759 shares of the financial services provider's stock after buying an additional 2,610,197 shares during the period. U.S. Bancorp accounts for about 5.3% of Davis Selected Advisers' holdings, making the stock its 2nd largest holding. Davis Selected Advisers owned about 1.42% of U.S. Bancorp worth $1,176,148,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of USB. SG Americas Securities LLC lifted its holdings in U.S. Bancorp by 3,451.9% during the 4th quarter. SG Americas Securities LLC now owns 4,332,659 shares of the financial services provider's stock worth $231,191,000 after buying an additional 4,210,676 shares during the last quarter. AQR Capital Management LLC lifted its holdings in U.S. Bancorp by 354.5% during the 2nd quarter. AQR Capital Management LLC now owns 2,855,350 shares of the financial services provider's stock worth $129,205,000 after buying an additional 2,227,103 shares during the last quarter. Vanguard Group Inc. lifted its holdings in U.S. Bancorp by 1.3% during 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. Hotchkis & Wiley Capital Management LLC lifted its holdings in U.S. Bancorp by 16.4% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 11,598,572 shares of the financial services provider's stock worth $560,559,000 after buying an additional 1,631,550 shares during the last quarter. Finally, Freestone Grove Partners LP purchased a new stake in U.S. Bancorp during the 3rd quarter worth about $78,684,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on USB. Oppenheimer lifted their price target on U.S. Bancorp from $73.00 to $74.00 and gave the stock an "outperform" rating in a report on Wednesday. HSBC reaffirmed a "buy" rating and set a $62.00 price target on shares of U.S. Bancorp in a report on Wednesday, January 7th. Wolfe Research downgraded U.S. Bancorp from an "outperform" rating to a "peer perform" rating in a report on Wednesday, January 7th. DA Davidson reaffirmed a "buy" rating and set a $65.00 price target on shares of U.S. Bancorp in a report on Friday, April 17th. Finally, Royal Bank Of Canada lifted their price target on U.S. Bancorp from $59.00 to $61.00 and gave the stock an "outperform" rating in a report on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $61.20.

Insider Transactions at U.S. Bancorp

In other news, insider Mark G. Runkel sold 32,195 shares of U.S. Bancorp stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $60.65, for a total transaction of $1,952,626.75. Following the sale, the insider owned 97,728 shares in the company, valued at approximately $5,927,203.20. The trade was a 24.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jodi L. Richard sold 40,000 shares of U.S. Bancorp stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total value of $2,280,000.00. Following the sale, the insider owned 207,251 shares in the company, valued at $11,813,307. This trade represents a 16.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is currently owned by insiders.

U.S. Bancorp Stock Down 0.5%

USB opened at $56.36 on Friday. The business's 50-day simple moving average is $54.10 and its 200-day simple moving average is $52.87. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.81 and a current ratio of 0.81. U.S. Bancorp has a one year low of $40.75 and a one year high of $61.19. The stock has a market capitalization of $87.48 billion, a P/E ratio of 11.81, a price-to-earnings-growth ratio of 1.02 and a beta of 1.00.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its earnings results on Thursday, April 16th. The financial services provider reported $1.18 EPS for the quarter, topping analysts' consensus estimates of $1.14 by $0.04. U.S. Bancorp had a return on equity of 18.26% and a net margin of 18.01%.The business had revenue of $7.32 billion for the quarter, compared to analysts' expectations of $7.27 billion. During the same quarter in the previous year, the firm earned $1.03 earnings per share. The business's revenue was up 4.7% compared to the same quarter last year. Analysts anticipate that U.S. Bancorp will post 5.09 EPS for the current year.

U.S. Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were given a dividend of $0.52 per share. The ex-dividend date was Tuesday, March 31st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.7%. U.S. Bancorp's payout ratio is 43.61%.

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.

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