4,186 Shares in U.S. Bancorp (NYSE:USB) Bought by Quarry LP

Quarry LP bought a new position in shares of U.S. Bancorp (NYSE:USB) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 4,186 shares of the financial services provider’s stock, valued at approximately $166,000.

A number of other institutional investors and hedge funds have also bought and sold shares of USB. Marshall Wace LLP increased its position in U.S. Bancorp by 1,438.4% during the second quarter. Marshall Wace LLP now owns 2,263,296 shares of the financial services provider’s stock worth $89,853,000 after acquiring an additional 2,116,175 shares during the period. Confluence Investment Management LLC bought a new position in U.S. Bancorp during the first quarter worth $92,192,000. National Bank of Canada FI increased its position in U.S. Bancorp by 313.8% during the second quarter. National Bank of Canada FI now owns 2,698,642 shares of the financial services provider’s stock worth $105,903,000 after acquiring an additional 2,046,522 shares during the period. BNP Paribas Financial Markets increased its position in U.S. Bancorp by 88.9% during the first quarter. BNP Paribas Financial Markets now owns 2,331,050 shares of the financial services provider’s stock worth $104,198,000 after acquiring an additional 1,097,179 shares during the period. Finally, Clearbridge Investments LLC increased its position in U.S. Bancorp by 16.2% during the first quarter. Clearbridge Investments LLC now owns 6,941,466 shares of the financial services provider’s stock worth $310,284,000 after acquiring an additional 967,143 shares during the period. Institutional investors own 77.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on USB. Royal Bank of Canada reaffirmed an “outperform” rating and set a $48.00 target price on shares of U.S. Bancorp in a research report on Friday, September 13th. UBS Group lifted their price target on shares of U.S. Bancorp from $43.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Morgan Stanley upgraded shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $54.00 to $57.00 in a research note on Monday. Citigroup lifted their price target on shares of U.S. Bancorp from $45.00 to $49.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Finally, Jefferies Financial Group decreased their price target on shares of U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating on the stock in a research note on Wednesday, July 3rd. Twelve analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $48.34.

U.S. Bancorp Stock Up 1.6 %

Shares of NYSE:USB opened at $45.73 on Tuesday. The company’s fifty day moving average is $44.54 and its 200-day moving average is $42.40. The company has a market capitalization of $71.36 billion, a PE ratio of 15.14, a P/E/G ratio of 3.06 and a beta of 1.04. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.80 and a current ratio of 0.81. U.S. Bancorp has a 52 week low of $30.47 and a 52 week high of $47.31.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.04. The business had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.81 billion. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The firm’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.12 EPS. Equities research analysts predict that U.S. Bancorp will post 3.86 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a dividend of $0.50 per share. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Monday, September 30th. This represents a $2.00 annualized dividend and a yield of 4.37%. U.S. Bancorp’s dividend payout ratio is 66.23%.

U.S. Bancorp declared that its Board of Directors has initiated a stock buyback program on Thursday, September 12th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Aleem Gillani purchased 10,000 shares of U.S. Bancorp stock in a transaction that occurred on Thursday, July 18th. The shares were acquired at an average price of $44.99 per share, for a total transaction of $449,900.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at $449,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.23% of the stock is owned by corporate insiders.

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.