Aviva PLC Has $45.05 Million Stake in U.S. Bancorp (USB)
Aviva PLC cut its holdings in shares of U.S. Bancorp (NYSE:USB) by 12.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 900,577 shares of the financial services provider’s stock after selling 124,040 shares during the period. Aviva PLC owned approximately 0.05% of U.S. Bancorp worth $45,047,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of the company. SFE Investment Counsel boosted its holdings in U.S. Bancorp by 20.6% in the 2nd quarter. SFE Investment Counsel now owns 41,785 shares of the financial services provider’s stock worth $2,090,000 after buying an additional 7,145 shares during the last quarter. CT Mason boosted its holdings in U.S. Bancorp by 51.0% in the 1st quarter. CT Mason now owns 46,665 shares of the financial services provider’s stock worth $2,357,000 after buying an additional 15,765 shares during the last quarter. Providence Capital Advisors LLC boosted its holdings in U.S. Bancorp by 49.6% in the 1st quarter. Providence Capital Advisors LLC now owns 37,654 shares of the financial services provider’s stock worth $1,902,000 after buying an additional 12,488 shares during the last quarter. Alecta Pensionsforsakring Omsesidigt boosted its holdings in U.S. Bancorp by 12.2% in the 2nd quarter. Alecta Pensionsforsakring Omsesidigt now owns 4,140,000 shares of the financial services provider’s stock worth $207,041,000 after buying an additional 450,000 shares during the last quarter. Finally, Bank of The West boosted its holdings in U.S. Bancorp by 28.4% in the 1st quarter. Bank of The West now owns 6,587 shares of the financial services provider’s stock worth $333,000 after buying an additional 1,455 shares during the last quarter. Hedge funds and other institutional investors own 73.54% of the company’s stock.
Several equities research analysts recently issued reports on USB shares. Morgan Stanley lowered their price objective on U.S. Bancorp from $61.00 to $57.00 and set an “underweight” rating on the stock in a report on Thursday, April 19th. Susquehanna Bancshares set a $57.00 price objective on U.S. Bancorp and gave the stock a “hold” rating in a report on Monday, April 23rd. Citigroup upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and set a $58.00 price objective on the stock in a report on Friday, May 11th. ValuEngine cut U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, May 22nd. Finally, Wedbush reiterated a “neutral” rating on shares of U.S. Bancorp in a report on Monday, July 23rd. Five equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company’s stock. U.S. Bancorp has an average rating of “Hold” and an average price target of $58.45.
U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, July 18th. The financial services provider reported $1.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.01. The business had revenue of $5.64 billion for the quarter, compared to analysts’ expectations of $5.64 billion. U.S. Bancorp had a return on equity of 14.66% and a net margin of 26.96%. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.25 EPS. analysts expect that U.S. Bancorp will post 4.05 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, July 16th. Stockholders of record on Friday, June 29th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.27%. The ex-dividend date was Thursday, June 28th. U.S. Bancorp’s dividend payout ratio is currently 35.09%.
In other news, Vice Chairman John R. Elmore sold 58,924 shares of U.S. Bancorp stock in a transaction that occurred on Monday, July 23rd. The shares were sold at an average price of $51.71, for a total transaction of $3,046,960.04. Following the sale, the insider now owns 98,371 shares of the company’s stock, valued at approximately $5,086,764.41. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.43% of the company’s stock.
About U.S. Bancorp
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. The company operates through five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.
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