Cohen Lawrence B lessened its holdings in shares of U.S. Bancorp (NYSE:USB) by 3.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 73,525 shares of the financial services provider’s stock after selling 2,329 shares during the period. U.S. Bancorp comprises 2.7% of Cohen Lawrence B’s holdings, making the stock its 9th largest holding. Cohen Lawrence B’s holdings in U.S. Bancorp were worth $3,853,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in USB. Northern Trust Corp lifted its stake in U.S. Bancorp by 0.9% in the 1st quarter. Northern Trust Corp now owns 20,320,154 shares of the financial services provider’s stock valued at $979,228,000 after purchasing an additional 190,324 shares during the last quarter. Geode Capital Management LLC lifted its stake in U.S. Bancorp by 7.5% in the 4th quarter. Geode Capital Management LLC now owns 18,322,754 shares of the financial services provider’s stock valued at $835,766,000 after purchasing an additional 1,285,265 shares during the last quarter. Daily Journal Corp lifted its stake in U.S. Bancorp by 9,900.0% in the 2nd quarter. Daily Journal Corp now owns 14,000,000 shares of the financial services provider’s stock valued at $7,336,000 after purchasing an additional 13,860,000 shares during the last quarter. Janus Henderson Group PLC lifted its stake in U.S. Bancorp by 2.4% in the 2nd quarter. Janus Henderson Group PLC now owns 13,382,530 shares of the financial services provider’s stock valued at $701,230,000 after purchasing an additional 310,818 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its stake in U.S. Bancorp by 1.8% in the 1st quarter. Clearbridge Investments LLC now owns 11,207,103 shares of the financial services provider’s stock valued at $540,070,000 after purchasing an additional 195,579 shares during the last quarter. Hedge funds and other institutional investors own 75.55% of the company’s stock.

USB opened at $52.83 on Wednesday. U.S. Bancorp has a twelve month low of $43.14 and a twelve month high of $57.81. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.83 and a current ratio of 0.84. The business’s fifty day moving average price is $54.13. The firm has a market capitalization of $83.19 billion, a PE ratio of 12.89, a PEG ratio of 1.75 and a beta of 1.06.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $1.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.02. U.S. Bancorp had a net margin of 26.70% and a return on equity of 15.45%. The company had revenue of $5.58 billion during the quarter, compared to analysts’ expectations of $5.73 billion. During the same period in the prior year, the company posted $1.02 earnings per share. U.S. Bancorp’s revenue for the quarter was down 1.1% compared to the same quarter last year. On average, equities research analysts anticipate that U.S. Bancorp will post 4.31 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.80%. The ex-dividend date was Thursday, June 27th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 36.10%.

U.S. Bancorp announced that its board has approved a share repurchase program on Thursday, June 27th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the financial services provider to purchase up to 3.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

Several equities analysts recently commented on USB shares. Macquarie downgraded shares of U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $59.00 price objective for the company. in a research note on Thursday, August 1st. Wedbush increased their price objective on shares of U.S. Bancorp from $46.00 to $49.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Deutsche Bank set a $59.00 price target on shares of U.S. Bancorp and gave the company a “hold” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. upgraded shares of U.S. Bancorp from an “underweight” rating to a “neutral” rating and upped their price target for the company from $52.50 to $57.00 in a research report on Wednesday, July 31st. Finally, Bank of America upgraded shares of U.S. Bancorp from an “underperform” rating to a “neutral” rating and upped their price target for the company from $49.00 to $55.00 in a research report on Thursday, July 18th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $56.92.

In other news, Vice Chairman Shailesh M. Kotwal sold 20,000 shares of the stock in a transaction on Monday, July 29th. The shares were sold at an average price of $57.33, for a total transaction of $1,146,600.00. Following the completion of the sale, the insider now directly owns 65,959 shares in the company, valued at $3,781,429.47. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Vice Chairman Gillern Jeffry H. Von sold 9,428 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $55.25, for a total transaction of $520,897.00. Following the sale, the insider now owns 94,658 shares of the company’s stock, valued at $5,229,854.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 40,414 shares of company stock valued at $2,297,215. 0.24% of the stock is currently owned by corporate insiders.

U.S. Bancorp Profile

U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in 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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Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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