Cambiar Investors LLC Grows Stake in U.S. Bancorp $USB

Cambiar Investors LLC grew its holdings in U.S. Bancorp (NYSE:USB) by 6.1% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 948,423 shares of the financial services provider’s stock after acquiring an additional 54,841 shares during the quarter. U.S. Bancorp comprises 1.8% of Cambiar Investors LLC’s investment portfolio, making the stock its 24th biggest holding. Cambiar Investors LLC’s holdings in U.S. Bancorp were worth $42,916,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. IMG Wealth Management Inc. purchased a new position in shares of U.S. Bancorp in the 2nd quarter valued at about $25,000. Saudi Central Bank purchased a new position in shares of U.S. Bancorp in the 1st quarter valued at about $26,000. YANKCOM Partnership increased its holdings in shares of U.S. Bancorp by 59.4% in the 1st quarter. YANKCOM Partnership now owns 698 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 260 shares during the last quarter. Cornerstone Planning Group LLC increased its holdings in shares of U.S. Bancorp by 118.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 776 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 420 shares during the last quarter. Finally, Activest Wealth Management boosted its position in shares of U.S. Bancorp by 846.5% in the 2nd quarter. Activest Wealth Management now owns 814 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 728 shares during the period. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Price Performance

U.S. Bancorp stock opened at $46.71 on Friday. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $53.98. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.82 and a quick ratio of 0.82. The business has a 50 day simple moving average of $48.14 and a 200-day simple moving average of $45.54. The stock has a market capitalization of $72.69 billion, a PE ratio of 10.69, a price-to-earnings-growth ratio of 1.25 and a beta of 1.06.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.22 EPS for the quarter, topping the consensus estimate of $1.11 by $0.11. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.The business had revenue of $7.34 billion during the quarter, compared to analysts’ expectations of $7.17 billion. During the same quarter in the prior year, the business earned $1.03 earnings per share. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. Equities analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.5%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.50. The ex-dividend date was Tuesday, September 30th. U.S. Bancorp’s dividend payout ratio (DPR) is currently 47.60%.

Wall Street Analyst Weigh In

USB has been the subject of a number of research analyst reports. Weiss Ratings reissued a “buy (b-)” rating on shares of U.S. Bancorp in a research report on Wednesday, October 8th. Citigroup upped their target price on U.S. Bancorp from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, October 17th. DA Davidson upped their target price on U.S. Bancorp from $57.00 to $59.00 and gave the company a “buy” rating in a research report on Friday, October 17th. TD Cowen upped their target price on U.S. Bancorp from $59.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, October 20th. Finally, Deutsche Bank Aktiengesellschaft raised U.S. Bancorp from a “hold” rating to a “buy” rating and set a $52.50 target price for the company in a research report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $54.55.

Insider Activity at U.S. Bancorp

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

U.S. Bancorp Profile

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.