BI Asset Management Fondsmaeglerselskab A S Boosts Holdings in U.S. Bancorp $USB

BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of U.S. Bancorp (NYSE:USB) by 12.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 92,263 shares of the financial services provider’s stock after purchasing an additional 10,214 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in U.S. Bancorp were worth $4,459,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of USB. Norges Bank purchased a new stake in shares of U.S. Bancorp during the second quarter worth approximately $971,285,000. Davis Selected Advisers lifted its stake in shares of U.S. Bancorp by 29.8% in the second quarter. Davis Selected Advisers now owns 19,331,637 shares of the financial services provider’s stock worth $874,757,000 after buying an additional 4,442,623 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in U.S. Bancorp by 1,589.4% during the second quarter. Arrowstreet Capital Limited Partnership now owns 3,472,252 shares of the financial services provider’s stock worth $157,119,000 after acquiring an additional 3,266,724 shares during the last quarter. AQR Capital Management LLC grew its stake 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 valued at $129,205,000 after acquiring an additional 2,227,103 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of U.S. Bancorp by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 143,269,275 shares of the financial services provider’s stock worth $6,482,935,000 after purchasing an additional 2,038,996 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Stock Up 2.8%

Shares of U.S. Bancorp stock opened at $60.74 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $60.91. The company has a market capitalization of $94.42 billion, a P/E ratio of 13.15, a P/E/G ratio of 1.06 and a beta of 1.06. The company has a 50 day moving average of $54.57 and a 200 day moving average of $49.86.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.07. The business had revenue of $7.92 billion for the quarter, compared to analyst estimates of $7.31 billion. U.S. Bancorp had a net margin of 17.66% and a return on equity of 13.48%. The company’s revenue was up 5.1% on a year-over-year basis. During the same period last year, the business earned $1.07 EPS. As a group, research analysts forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend was Wednesday, December 31st. U.S. Bancorp’s dividend payout ratio is currently 45.02%.

Wall Street Analyst Weigh In

USB has been the topic of a number of analyst reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of U.S. Bancorp in a research report on Wednesday, January 21st. Royal Bank Of Canada increased their price target on shares of U.S. Bancorp from $57.00 to $59.00 and gave the company an “outperform” rating in a research note on Wednesday, January 21st. Citigroup upped their price objective on U.S. Bancorp from $65.00 to $70.00 and gave the company a “buy” rating in a report on Friday, October 17th. Argus lifted their target price on U.S. Bancorp from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Finally, Evercore upped their target price on shares of U.S. Bancorp from $60.00 to $65.00 and gave the company an “in-line” rating in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $58.90.

U.S. Bancorp Profile

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.