U.S. Bancorp $USB Shares Acquired by Generali Asset Management SPA SGR

Key Points

• Generali Asset Management SPA SGR increased its stake in U.S. Bancorp by 4.5%, owning 167,339 shares valued at approximately $7.57 million after purchasing an additional 7,213 shares in the second quarter.
• U.S. Bancorp reported earnings of $1.11 per share for the last quarter, exceeding expectations, and experienced a revenue increase of 2.0% compared to the same quarter last year.
• The company declared a quarterly dividend of $0.52 per share, marking an increase from the previous $0.50, resulting in an annualized yield of 4.5% for investors.

Generali Asset Management SPA SGR increased its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 4.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 167,339 shares of the financial services provider's stock after purchasing an additional 7,213 shares during the quarter. Generali Asset Management SPA SGR's holdings in U.S. Bancorp were worth $7,572,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in U.S. Bancorp by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 141,230,279 shares of the financial services provider's stock worth $5,962,742,000 after purchasing an additional 2,393,383 shares in the last quarter. Amundi grew its position in shares of U.S. Bancorp by 2.2% during the first quarter. Amundi now owns 19,907,665 shares of the financial services provider's stock worth $773,268,000 after buying an additional 422,050 shares in the last quarter. Davis Selected Advisers grew its position in shares of U.S. Bancorp by 3.6% during the first quarter. Davis Selected Advisers now owns 14,889,014 shares of the financial services provider's stock worth $628,614,000 after buying an additional 513,875 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of U.S. Bancorp by 0.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 12,679,104 shares of the financial services provider's stock worth $535,312,000 after buying an additional 104,185 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in U.S. Bancorp by 10.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 11,012,635 shares of the financial services provider's stock worth $464,953,000 after acquiring an additional 1,045,509 shares in the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at U.S. Bancorp

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

U.S. Bancorp Stock Down 1.4%

Shares of NYSE USB opened at $46.43 on Thursday. The stock has a market cap of $72.26 billion, a PE ratio of 11.11, a price-to-earnings-growth ratio of 1.38 and a beta of 1.06. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $53.98. The business has a 50-day moving average price of $47.88 and a 200 day moving average price of $44.76. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.16.

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, beating the consensus estimate of $1.07 by $0.04. The business had revenue of $7.06 billion during the quarter, compared to the consensus estimate of $7.07 billion. U.S. Bancorp had a return on equity of 13.08% and a net margin of 16.30%.The company's revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.98 earnings per share. Equities research analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were paid a dividend of $0.52 per share. The ex-dividend date was Tuesday, September 30th. This represents a $2.08 dividend on an annualized basis and a yield of 4.5%. This is an increase from U.S. Bancorp's previous quarterly dividend of $0.50. U.S. Bancorp's dividend payout ratio (DPR) is currently 49.76%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. UBS Group boosted their price target on shares of U.S. Bancorp from $49.00 to $50.00 and gave the stock a "neutral" rating in a report on Tuesday, October 7th. Weiss Ratings reiterated a "buy (b-)" rating on shares of U.S. Bancorp in a research note on Wednesday, October 8th. Citigroup upped their price objective on U.S. Bancorp from $59.00 to $65.00 and gave the stock a "buy" rating in a research report on Friday, September 19th. DA Davidson upped their price objective on U.S. Bancorp from $49.00 to $52.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. Finally, Wall Street Zen raised U.S. Bancorp from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $53.11.

U.S. Bancorp 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.

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