Andra AP fonden Purchases 292,100 Shares of U.S. Bancorp $USB

Andra AP fonden lifted its position in U.S. Bancorp (NYSE:USB) by 175.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 458,400 shares of the financial services provider’s stock after acquiring an additional 292,100 shares during the period. Andra AP fonden’s holdings in U.S. Bancorp were worth $20,743,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in USB. Resona Asset Management Co. Ltd. raised its holdings in U.S. Bancorp by 6.1% in the second quarter. Resona Asset Management Co. Ltd. now owns 570,169 shares of the financial services provider’s stock worth $25,843,000 after purchasing an additional 32,861 shares in the last quarter. Atlantic Union Bankshares Corp boosted its holdings in shares of U.S. Bancorp by 18.7% during the 2nd quarter. Atlantic Union Bankshares Corp now owns 7,499 shares of the financial services provider’s stock valued at $339,000 after buying an additional 1,182 shares in the last quarter. Asahi Life Asset Management CO. LTD. grew its position in shares of U.S. Bancorp by 10.9% in the 2nd quarter. Asahi Life Asset Management CO. LTD. now owns 10,060 shares of the financial services provider’s stock worth $455,000 after buying an additional 990 shares during the period. Equity Investment Corp increased its stake in shares of U.S. Bancorp by 22.0% in the 2nd quarter. Equity Investment Corp now owns 3,306,658 shares of the financial services provider’s stock worth $149,626,000 after acquiring an additional 595,760 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in U.S. Bancorp by 20.0% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 450,702 shares of the financial services provider’s stock valued at $20,394,000 after acquiring an additional 75,096 shares during the period. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Performance

Shares of USB opened at $46.83 on Friday. The company has a market cap of $72.88 billion, a price-to-earnings ratio of 10.72, a P/E/G ratio of 1.25 and a beta of 1.10. The business’s fifty day simple moving average is $47.99 and its two-hundred day simple moving average is $45.73. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $53.98. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.10.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.11. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.The firm had revenue of $7.34 billion for the quarter, compared to the consensus estimate of $7.17 billion. During the same period in the prior year, the company posted $1.03 earnings per share. The company’s quarterly revenue was up 6.8% on a year-over-year basis. Research analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend was Tuesday, September 30th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.50. U.S. Bancorp’s payout ratio is 47.60%.

Insider Transactions at U.S. Bancorp

In other news, EVP James L. Chosy sold 26,909 shares of U.S. Bancorp stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $46.86, for a total value of $1,260,955.74. Following the completion of the sale, the executive vice president directly owned 226,375 shares in the company, valued at $10,607,932.50. The trade was a 10.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Andrew Cecere sold 140,445 shares of the business’s stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $46.34, for a total transaction of $6,508,221.30. Following the transaction, the chairman directly owned 1,360,414 shares of the company’s stock, valued at $63,041,584.76. The trade was a 9.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

USB has been the topic of a number of recent research reports. TD Cowen upped their price objective on shares of U.S. Bancorp from $59.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, October 20th. Weiss Ratings restated a “buy (b-)” rating on shares of U.S. Bancorp in a research note on Wednesday, October 8th. Morgan Stanley reaffirmed a “positive” rating on shares of U.S. Bancorp in a research report on Friday, October 17th. Bank of America boosted their target price on U.S. Bancorp from $54.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, October 17th. Finally, Oppenheimer cut their target price on U.S. Bancorp from $67.00 to $66.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 23rd. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $54.55.

About U.S. Bancorp

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.