28,265 Shares in U.S. Bancorp $USB Purchased by AGF Management Ltd.

AGF Management Ltd. acquired a new stake in shares of U.S. Bancorp (NYSE:USB) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 28,265 shares of the financial services provider’s stock, valued at approximately $1,279,000.

Other large investors also recently modified their holdings of the company. Nuveen LLC bought a new position in shares of U.S. Bancorp during the 1st quarter worth approximately $138,183,000. Vanguard Group Inc. raised its stake in U.S. Bancorp by 1.7% during the first quarter. Vanguard Group Inc. now owns 141,230,279 shares of the financial services provider’s stock worth $5,962,742,000 after acquiring an additional 2,393,383 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of U.S. Bancorp by 17.4% during the first quarter. American Century Companies Inc. now owns 10,070,174 shares of the financial services provider’s stock valued at $425,163,000 after acquiring an additional 1,493,318 shares during the period. Nordea Investment Management AB lifted its holdings in shares of U.S. Bancorp by 192.0% during the second quarter. Nordea Investment Management AB now owns 1,994,993 shares of the financial services provider’s stock valued at $90,752,000 after acquiring an additional 1,311,746 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in shares of U.S. Bancorp by 10.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 11,012,635 shares of the financial services provider’s stock valued at $464,953,000 after purchasing an additional 1,045,509 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other U.S. Bancorp news, EVP James L. Chosy sold 26,909 shares of the company’s stock in a transaction on Monday, October 20th. The shares were sold at an average price of $46.86, for a total transaction of $1,260,955.74. Following the completion of the sale, the executive vice president owned 226,375 shares in the company, valued at approximately $10,607,932.50. The trade was a 10.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Andrew Cecere sold 140,445 shares of the stock in a transaction on Monday, October 20th. The shares were sold at an average price of $46.34, for a total value of $6,508,221.30. Following the completion of the transaction, the chairman directly owned 1,360,414 shares in the company, valued at approximately $63,041,584.76. This trade represents a 9.36% decrease in their position. The SEC filing for this sale provides additional information. 0.23% of the stock is currently owned by insiders.

U.S. Bancorp Price Performance

Shares of USB stock opened at $47.62 on Wednesday. The firm has a market cap of $74.02 billion, a price-to-earnings ratio of 10.90, a PEG ratio of 1.25 and a beta of 1.10. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $53.98. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.10. The stock has a 50-day moving average price of $47.91 and a 200 day moving average price of $45.99.

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

U.S. Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were paid a $0.52 dividend. 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. This represents a $2.08 dividend on an annualized basis and a yield of 4.4%. U.S. Bancorp’s payout ratio is 47.60%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on USB. Bank of America increased their target price on shares of U.S. Bancorp from $54.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. UBS Group boosted their price target on shares of U.S. Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a research report on Tuesday, October 7th. Evercore ISI raised their price objective on shares of U.S. Bancorp from $49.00 to $54.00 and gave the stock an “in-line” rating in a report on Tuesday, September 30th. Oppenheimer cut their target price on shares of U.S. Bancorp from $67.00 to $66.00 and set an “outperform” rating for the company in a research note on Tuesday, September 23rd. Finally, Citigroup boosted their target price on U.S. Bancorp from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, U.S. Bancorp presently has a consensus rating of “Moderate Buy” and a consensus 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.