Great Lakes Advisors LLC Raises Stake in U.S. Bancorp $USB

Great Lakes Advisors LLC raised its stake in shares of U.S. Bancorp (NYSE:USB) by 288.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,303 shares of the financial services provider’s stock after buying an additional 14,331 shares during the quarter. Great Lakes Advisors LLC’s holdings in U.S. Bancorp were worth $933,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of U.S. Bancorp in the second quarter worth $971,285,000. Davis Selected Advisers grew its position in U.S. Bancorp by 29.8% during 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 increased its stake in U.S. Bancorp by 1,589.4% in the 2nd 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 raised its holdings in shares of U.S. Bancorp by 354.5% in 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 position 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 valued at $6,482,935,000 after acquiring an additional 2,038,996 shares during the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on USB shares. Wolfe Research downgraded shares of U.S. Bancorp from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 7th. Deutsche Bank Aktiengesellschaft raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $52.50 price target on the stock in a report on Thursday, October 23rd. Morgan Stanley reiterated a “positive” rating on shares of U.S. Bancorp in a research report on Friday, October 17th. UBS Group increased their target price on U.S. Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a research note on Tuesday, October 7th. Finally, Evercore ISI set a $60.00 price target on U.S. Bancorp in a research note on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $58.19.

U.S. Bancorp Stock Performance

U.S. Bancorp stock opened at $56.09 on Monday. The firm has a fifty day simple moving average of $53.54 and a two-hundred day simple moving average of $49.45. 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 twelve month low of $35.18 and a twelve month high of $56.70. The company has a market capitalization of $87.18 billion, a PE ratio of 12.14, a P/E/G ratio of 1.01 and a beta of 1.06.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $1.26 EPS for the quarter, topping the consensus estimate of $1.19 by $0.07. U.S. Bancorp had a return on equity of 13.48% and a net margin of 17.66%.The firm had revenue of $7.92 billion for the quarter, compared to the consensus estimate of $7.31 billion. During the same quarter in the previous year, the business earned $1.07 earnings per share. The company’s quarterly revenue was up 5.1% 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Wednesday, December 31st. U.S. Bancorp’s dividend payout ratio is 45.02%.

About U.S. Bancorp

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.